YM Charts

[mgabriel01]

Quote from 1a2b3cppp:

Can you identify the hammers in that chart? I see a lot of bullish hammers but that whole chart was bearish.

I agree.
There were no significant reversals all day - just one long down trend

I didn't place trades on the hammers-as-bullish-reversals because it appeared to be a day when they were meaningless

I just shorted and rode the downdraft



FWIW- I circled the hammers that one might think 'should' have indicated a bullish reversal --- they just didnt work on this particular day

 

[1a2b3cppp]

Quote from mgabriel01:

I agree.
There were no significant reversals all day - just one long down trend

I didn't place trades on the hammers-as-bullish-reversals because it appeared to be a day when they were meaningless

I just shorted and rode the downdraft



FWIW- I circled the hammers that one might think 'should' have indicated a bullish reversal --- they just didnt work on this particular day

I was just curious what signal you used for your short entry.

 

[mgabriel01]

Quote from 1a2b3cppp:

I was just curious what signal you used for your short entry.

no signal
every bullish reversal I know of, which appears to work sometimes, was failing

so I just shorted and rode the wave

keep in mind -- Im trading the TOS paper-trading system