Son of If You Can Draw a Straight Line . . .

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At last, a legitimate excuse to stop. These allergies are making it impossible for me to focus. I even had to draw the lines just to stay on track (boo hoo).

Not a great day. First trade was a loser, always a nice way to start the day. Wound up with 4 trades, 2 winners and 2 losers, 65t on the plus side, 13 on the minus. First trade at 0941 (whoops, already said it was a loser; oh, well).
 
Silver is back in the hinge. All this non action in the larger bar interval is tiring me out. Perhaps, others are also getting tired and beginning to move away to better moving instruments. In any case, we'll have to see again which way the hinge resolves. Price could always just continue to just drift out of the hinge.

These trend less times have their value but it comes at the cost of continuing to fold (Rule #1). It's getting easier but I am not there yet. Maybe I also need a proper journal to iron these kinks out. Although nothing is worse than sitting on a loss. Sitting peacefully and just observing has its charm.

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Gringo
 

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This was the way I saw the market today, still not taking failures or trades before the break of S/D line.

This is also posted in my journal, but it does not have the same rating as this, so I will keep it there for personal reasons, but will post here as well from now on, unless told otherwise.

1. After finding S at 13, and breaking the downtrend around 9:15, price started making HHs and HLs, at the open sellers pushed but were rejected by buyers. As can be seen the entry is at the H of the last bar. There was a RET at prelim R at 20 (PDH), but it held so the trade was kept open until the break of DL

2. My reading was LH and DL break around PDH, so I placed a short, this one did not work out well. And I am not sure about how to Stop and Reverse so I just waited for more information.

3. The RET stopped ticks away from DL and I took the long, Kept it until DL was broken.

4.This is where it gets tricky, I had the LH and the break of DL at R (above to be precise), It took the short but it did not work, my first reading after this is chop (bias to work on), here it was what happened

5. Sellers tried to break out of the chop, but failed and were sucked back into it. And then came the perfect entry that I was unable to get it. Dunno how!

6. I was expecting a RET but the LL in the bar was not what i had in mind so I passed. Guess i am still thinking in bars. Have to remember that price is a movie.

7. RET around S, finally failed and called it a day.
 

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Quote from Gringo:

Silver is back in the hinge. All this non action in the larger bar interval is tiring me out. Perhaps, others are also getting tired and beginning to move away to better moving instruments. In any case, we'll have to see again which way the hinge resolves. Price could always just continue to just drift out of the hinge.

These trend less times have their value but it comes at the cost of continuing to fold (Rule #1). It's getting easier but I am not there yet. Maybe I also need a proper journal to iron these kinks out. Although nothing is worse than sitting on a loss. Sitting peacefully and just observing has its charm.

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Gringo
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Another perspective:

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Quote from niko:



6. I was expecting a RET but the LL in the bar was not what i had in mind so I passed. Guess i am still thinking in bars. Have to remember that price is a movie.

7. RET around S, finally failed and called it a day.
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If you don't take the best entry, then the second best is going to be messy if not fail altogether. You got your retracement at 6, but not if you were focused on bars. If you were watching in real time, you saw that price retraced from the "low" to the "close". That's a retracement, and would be obvious if you were watching a 30s or 15s chart, but neither are necessary if you're watching price move. If you had entered there, then the mess at 7 would be irrelevant and you could take it in stride, so to speak.

As for the chop, you appear to have stayed out of it. Congratulations.
 
Quote from dbphoenix:

If you don't take the best entry, then the second best is going to be messy if not fail altogether. You got your retracement at 6, but not if you were focused on bars. If you were watching in real time, you saw that price retraced from the "low" to the "close". That's a retracement, and would be obvious if you were watching a 30s or 15s chart, but neither are necessary if you're watching price move. If you had entered there, then the mess at 7 would be irrelevant and you could take it in stride, so to speak.

As for the chop, you appear to have stayed out of it. Congratulations.
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I am trying to widen my view, leaping from patterns to PA but still have a hard time commiting at the right edge. Will include that as part of my things to look for.

As for the chop, doing my best, cant deny I am still tempted to place a limit sell at R and a limit buy at S, but i know better :)
 
Quote from desperados:

7. RET around S, finally failed and called it a day.



Which Support do you mean?

thnx
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My preliminary S/R level was 20, buyers paused there after the open and then sellers test it from the upside. Perhaps the fact that it has been crossed at the open takes some strength out of it, or i was just dead wrong from the begining and that is not really an important level.
 
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