Why do i keep buying at the wrong time?

[schizo]

trying to figure out if there is some faulty programming that makes me see something that is not there.
I got caught in this exact type of chart pattern more than i can count. So obviously there is something in that chart that is making me think that its a good entry point.

Where chart cuts off is where i bought. Thinking that it will have another run up.
The price seemed to have a strong push upward wirh alot of green order walls coming through.
The volume was good.
And then it reversed and buying pressure just died.
I dont want to mention the ticker yet because i want to see what other people see when looking at that chart.
Is there a trap that im not seeing in this move?
Can yall tell me wha you see on this chart?
I want to compare it to what i see and maybe find the fault in my thinking

Let me quickly get you back in the loop. Trading, in the larger scheme of things, is rather simple. It only involves 3 phases: UPTREND, SIDEWAY, and DOWNTREND.

In an uptrend, you buy the dip. In a downtrend, you sell the rip. In a sideway chop, you play ping pong. With that said, which of the three do you think is the most important? That's right, it's the sideway chop because it bridges the trends together. Rarely do you see a trend reverse, especially in an uptrend, without some form of sideway action.

 

[hilmy83]

Let me quickly get you back in the loop. Trading, in the larger scheme of things, is rather simple. It only involves 3 phases: UPTREND, SIDEWAY, and DOWNTREND.

In an uptrend, you buy the dip. In a downtrend, you sell the rip. In a sideway chop, you play ping pong. With that said, which of the three do you think is the most important? That's right, it's the sideway chop because it bridges the trends together. Rarely do you see a trend reverse, especially in an uptrend, without some form of sideway action.

Technically you only need to know if the momentum is up or down. Even in sideway move, you can play a side instead of both.
This way, your analysis can be simplified to deciding between two options, instead of three

 

[Zwaen]

Believe it or not, a part of this is psychological. You should try to reverse your trades in your directional trading, go long when you want to short, vice versa. Do this with some real money (amount meaningful to you). You will be surprised how your timing will be - as evenly - off as before.

 

[Zwaen]

Let me quickly get you back in the loop. Trading, in the larger scheme of things, is rather simple. It only involves 3 phases: UPTREND, SIDEWAY, and DOWNTREND.

In an uptrend, you buy the dip. In a downtrend, you sell the rip. In a sideway chop, you play ping pong. With that said, which of the three do you think is the most important? That's right, it's the sideway chop because it bridges the trends together. Rarely do you see a trend reverse, especially in an uptrend, without some form of sideway action.

I disagree with this, in indices, bottoms seem to be more spikes than accumulating areas. Though must say this is from a time chart, not volume

 

[mute9003]

I left out more info on purpose,
I want to get feedback on what you see on that chart based on that. Without bias on what happened after.
Its easy to break break down chart when it already happened.
I want to compare your thinking to my thinking.
So i can see why i get stuck buying at exactly same spot

Is there a noib trap in this chart pattern where i would think that this will go up again?

What i saw is strong buying pressure with those last green bars it was number 3 on top 10 volume that day.
Alot of tape action.
And then suddenly buying volume disappeared and red orders started coming in.
i thought it was a pullback,
But it kept pulling back more and more

The ticker is NVOS

 

[deaddog]

Indicator?? Lol what? EW is a method based on statistics. Have you not seen me chart 6 months out in the future? My entries and exits are months out always. I was buying JAN19 16 calls back in Sept months before the move. I've had this chart drawn in since A...and price is now approaching X...or completed X heading down to A for the double ABC correction.

If it breaks the .50 fib then likely headed down to A, if not then we could be headed up to X. If it blows through X then we are off to the races after a single correction.

LOL I rest my case!!
Price has to move before you draw the waves.
Likely and could are not definite calls. You could say that the price will likely go up or it could go down or it might stay in a range. Then when something happens you can take credit for a correct call.
I'm glad I didn't take your advise on NVO

 

[wxytrader]

trying to figure out if there is some faulty programming that makes me see something that is not there.
I got caught in this exact type of chart pattern more than i can count. So obviously there is something in that chart that is making me think that its a good entry point.

Where chart cuts off is where i bought. Thinking that it will have another run up.
The price seemed to have a strong push upward wirh alot of green order walls coming through.
The volume was good.
And then it reversed and buying pressure just died.
I dont want to mention the ticker yet because i want to see what other people see when looking at that chart.
Is there a trap that im not seeing in this move?
Can yall tell me wha you see on this chart?
I want to compare it to what i see and maybe find the fault in my thinking

Divergence is your friend.

Also, no RSI for relative strength?

View attachment 341802

 

[wxytrader]

LOL I rest my case!!
Price has to move before you draw the waves.
Likely and could are not definite calls. You could say that the price will likely go up or it could go down or it might stay in a range. Then when something happens you can take credit for a correct call.
I'm glad I didn't take your advise on NVO

What are you talking about?

Definite calls? lol. Anybody who loads the boat on a "definite call" is gambling lol. I have plotted the possible outcomes based on statistics, including time frames, and price levels lol. Until certain levels are reached there is no way to know if its going to be a single or a double correction. All it means is how many shares I can accumulate as I will be legging in at certain levels...levels I am aware of months in advance!

What NVO advice? When did I ever give advice lol.

 

[deaddog]

What NVO advice? When did I ever give advice lol.

Elliott wave charts & predictions thread that you started
post #99

 

[deaddog]

All it means is how many shares I can accumulate as I will be legging in at certain levels...levels I am aware of months in advance!

WE will see how that plays out as you post your BITI and BITO trades.