Ups and downs trading

[Alfing]

good point

that huge up bar does not look right. nothing technical just a feeling that something is not right.

the target is very optimistic one....

hammers are often retested so even that huge hammer may be tested,obvious things in market should be taken with a pinch of salt

also the breakout from a trading ranges may often give rather unpleasant surprises

it is nice to trade something else apart from forex after 10 years

No kidding. You got to say more about that up bar that you did not like. On M5 it had three (3!) gaps. Was it closing the gaps? What else?

Also, why did you choose 2781 and not 2782.75 as your R&L?

 

[padutrader]

On M5 it had three (3!) gaps.

i was watching 5 min ..there were no gap in my chart.
but what do i not like about that bar?

You will become a world class trader because you do not hesitate to ask what others may think is a stupid question: always ask stupid questions that is the way to learn;if you are shy to ask others ASK YOURSELF. SORRY FOR THE SERMON

well the market was forcing you to buy high.

it was the biggest up bar in 35 bars and it did nothing !!!!!!!!!! did not even break a high so conclude that it was bar in a trading range.

but even then it was a mistake to sell:the 4th bar after the big bar had a breakout failure and that is always a good sell.

R&L?

what does that stand for?

 

[padutrader]

The bottom line is that big bar was in a corrective move and big bars in corrective moves always have to be faded so i did just that.

 

[Alfing]

i was watching 5 min ..there were no gap in my chart.
but what do i not like about that bar?

You will become a world class trader because you do not hesitate to ask what others may think is a stupid question: always ask stupid questions that is the way to learn;if you are shy to ask others ASK YOURSELF. SORRY FOR THE SERMON

well the market was forcing you to buy high.

it was the biggest up bar in 35 bars and it did nothing !!!!!!!!!! did not even break a high so conclude that it was bar in a trading range.

but even then it was a mistake to sell:the 4th bar after the big bar had a breakout failure and that is always a good sell.

what does that stand for?

"Preach on!"

S&R - Support and Resistance level.

If I give you a print screen, can you point all the bars that you are talking about. Do not mind the foreing language.

 

[Alfing]

To post today's trades, I need to give a bigger picture. Here is what I noticed on M30.

 

[Alfing]

So, today I was trying to trade this trending range. Four trades in total: a good trade, a bad one, a stupid one, and another good one. The first three,

 

[Alfing]

And the last one,

 

[padutrader]

S&R - Support and Resistance level.

i do not think in those terms....

 

[padutrader]

First day impression of US 500 /emini

just lovely...planning to trade /scalp 5 min.

it moves about 5 times as fast as any forex pair-i thought i was watching M1 [instead of M5] by mistake.

 

[padutrader]

sold gbpjpy 148.69 stop 149.051 target 1: 145.07 target 2:143.19