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

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Quote from redbox:

My plan says yes.

A bounce at the midpoint through the SL and a retrace, so yes I would enter here.
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So you have to do it, if you ask other people they will probably tell you that is not the place to enter because their plans are wired differently, if that happens then you may end up avoiding a good trade that was in your plan.

If it does not work, then you just review your trading day and if necessary make adjustments to your plan.
 
Quote from niko:

So you have to do it, if you ask other people they will probably tell you that is not the place to enter because their plans are wired differently, if that happens then you may end up avoiding a good trade that was in your plan.

If it does not work, then you just review your trading day and if necessary make adjustments to your plan.
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Thanks Niko
 
Quote from dbphoenix:

:D
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Ok, so as we are in the chop, the next course of action is to wait for things to clear out.

Here comes another thing that has to be defined through testing: Does the Break happen at (1)10:40 or at (2)10:49.

If the answer is 1 (not so sure) then the order is placed at the pink square if 2 then one does nothing up until the last bar plotted.

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Quote from dbphoenix:

I can't tell where it's coming from, but it's not likely to be of any importance given that we're only 100pts away from the long-term channel.
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I should point out here that we're only 30-40pts away from the ES upper channel.
 
Here's my take on this method (paper trades) for today's ES starting at about 10:pm MT.
Blue dots are trade exits. Yellow line is previous wave 50% point.
Any comments are welcomed.
thnx.
 

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Quote from Liverless:

Here's my take on this method (paper trades) for today's ES starting at about 10:pm MT.
Blue dots are trade exits. Yellow line is previous wave 50% point.
Any comments are welcomed.
thnx.
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Not bad. And I can see your getting out of a long, if any, at the break of the demand line if you have fear issues. But there's no short there by any means. You're in an uptrend. So there's no short until after 1300 (this is more easily seen on a time chart -- I assume these are CVBs). And your 50% level is incorrect.

But you have the right idea, and that's at least half the battle, if not more.

Try replotting this from the open with a 1m bar and see how it looks.
 
Thanks Db,
I can see now I was too eager to short after the break of the fanned demand line, specially in a strong uptrend, but the 12:58 short was entered after three failed tries to break out of the previous high and a break of the demand line so I don't get why you're dismissing it.
Is there something else I am not considering?
 
The research for the edge is done in hindsight but after you train the eye, don't lie to yourself, if you did not see it live, you did not see it, regardless of how easy looking back looks like.
 
Quote from Liverless:

Thanks Db,
I can see now I was too eager to short after the break of the fanned demand line, specially in a strong uptrend, but the 12:58 short was entered after three failed tries to break out of the previous high and a break of the demand line so I don't get why you're dismissing it.
Is there something else I am not considering?
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Did you draw these in real time?
 
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