The Price Action Journal

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Quote from SusanaDT:

Personally, I let it go, you can see the "No Fills" annotations I do.

If I missed it, there is no way I will chase it, because this causes increased risk.

Not sure how the great ST does it, maybe one day the phantom of the opera pops in.

Susana
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Susana, I myself just enter at my trade signal, ie, one tick above/below the high/low of the 3rd bar in the pattern (like seen in my charts) do you do the same?
 
Quote from amitman:

Susana, I myself just enter at my trade signal, ie, one tick above/below the high/low of the 3rd bar in the pattern (like seen in my charts) do you do the same?
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I do it like ST does it, unless the PA is exceptional then I just do 1 car @ confirmation and might miss the 2nd.

Susana
 
Quote from SusanaDT:



If I missed it, there is no way I will chase it, because this causes increased risk.


Susana
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Took me YEARS to be able to this. Chasing and fading used to account for 90% of my losses. Pretty much avoid both now, except in extreme cases (which are completely subjective).

I just let a lot of trades go. The markets are not going anywhere. they will be there tomorrow.
 
Quote from Jayford:

Took me YEARS to be able to this. Chasing and fading used to account for 90% of my losses. Pretty much avoid both now, except in extreme cases (which are completely subjective).

I just let a lot of trades go. The markets are not going anywhere. they will be there tomorrow.
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Yes!

Susana
 
This is just great! Right when I think I've finally kicked the habit, along comes a thread like this...one that actually makes some sense. The "Sirens" are calling me back again.
Really is a very informative thread. Thanks for sharing.
 
Quote from Lucrum:

Quick question for the guys using a "3 bar reversal" how are you counting the bars?
IOW which bar is bar one?

TIA
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Lucrum,
The 3 bar reversal, also known as "3 bar Fractal" or "Market Structure (Low or High)", is identified as easily as extending and then pointing your 3 middle fingers either up or down; that is the sign of a perfect 3 bar reversal. You should take into account the 4th bar since it serves as confirmation (acceptance or rejection) of that pattern.
Here's a link on Fractals (or whatever we'd like to call them) that I thought would come in handy for those of you who are interested:
http://www.enthios.com/Primer_buildingblocks.htm

Regards,
Tex
 
Quote from CaptainObvious:

This is just great! Right when I think I've finally kicked the habit, along comes a thread like this...one that actually makes some sense. The "Sirens" are calling me back again.
Really is a very informative thread. Thanks for sharing.
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agreed, by far the most informative in a long long long time.

KUDOS to SusanaDT
 
guys, do you a draw a trendline at every reversal?

I tried that today on msft, i obviously ended up with a lot of lines.

I also saw some lines where there was significant pressure just because of previous reversals.
 
Quote from ggoyal:

guys, do you a draw a trendline at every reversal?

I tried that today on msft, i obviously ended up with a lot of lines.

I also saw some lines where there was significant pressure just because of previous reversals.
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I got nothing against them, a powerful tool for many but I personally, do not use trendlines.

Susana
 
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