CanOz
Home runs feel good, but base hits pay bills!
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The transition to Futures trading
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tech/a
No Ordinary Duck
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Classic
another short at 42
Stop above---a fair way above.
You should be able to spot it!!!
another short at 42
Stop above---a fair way above.
You should be able to spot it!!!
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Appreciate the response.
Very ironic you used that example as I actually took a trade during that time! (see chart marked below).
I'm a little confused with your explanation, are you suggesting the area's marked with a '?' you would steer clear of entering a trade?
Below is the 1m chart of the trade I entered with my thoughts as to why. Would this not have been a trade you would have entered? V. interested in your thoughts!
tech/a
No Ordinary Duck
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Kid will answer later. But in general I would not be confident that there was a fade trade in those volumes and bars.
Woke this morning to see all positions exited at 6483
Net 30 ticks.
Not particularly good trading but when you work my hrs
right now I have to adapt.
Woke this morning to see all positions exited at 6483
Net 30 ticks.
Not particularly good trading but when you work my hrs
right now I have to adapt.
Trembling Hand
Can be found on the bid
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I would say no. Its a grind lower over a very long time. If that pattern was more compressed you would possibly look to fade dips but its taking forever to go anywhere and all the time making lower highs. This traps a lot of longs.
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cheers guys.
My 2 cents worth - I wouldn't have looked for a fade trade in that area you circled simply because there wasn't enough of a sell off - just a lot of chopping and ranging price action. I don't use volume in my analysis so I can't comment from that perspective but for me, the action after the missile report would have caught my eye. Hindsight is 20/20 of course!
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FTSE just one way traffic at the moment, great if you got on at the bottom, hard to get on now!
CanOz
Home runs feel good, but base hits pay bills!
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Same as the DAX, waiting for a PB...rate decision later...non event IMO
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Example of a trade I took tonight, are you guys more comfortable with this fade? My thoughts on the chart.
CanOz
Home runs feel good, but base hits pay bills!
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Awesome rally of yesterdays VWAP
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Hey guys, one more before i call it a week. Wasn't trading this last night just studying it this morning. my thoughts on what I would have done are marked on the chart.
I'm interested to see if you guys would have taken the fade initially and secondly whether the break out trade was a strong option.
I still think the fade sets up pretty well, my only concern is that realistically we didn't actually bounce very much after the strong push down which is a pretty bearish sign. That being said I think the set up is pretty good and obviously the perfect set up can still be a loser, its just about repeating the process over and over.
Once again perhaps I'm not recognizing the context as well as I should be - an area I'm still working on.
I'm interested to see if you guys would have taken the fade initially and secondly whether the break out trade was a strong option.
I still think the fade sets up pretty well, my only concern is that realistically we didn't actually bounce very much after the strong push down which is a pretty bearish sign. That being said I think the set up is pretty good and obviously the perfect set up can still be a loser, its just about repeating the process over and over.
Once again perhaps I'm not recognizing the context as well as I should be - an area I'm still working on.
Kid,
Take this as encouragement to keep going and not criticism, remember to try and shoehorn your setups into whatever the conditions are; e.g. the last time we talked yesty you were bullish, so in hindsight it ran 55 (points?) from lowish to highish in the direction of your original bias, did you place a long trade?
Again, to clarify for everyone reading, I'm not trying to put your trade down or anything like that at all, just encouragement.
You read the scenario right from open but didn't capitalise on your original bias (may be a myriad of reasons, I don't know) so just keep going, don't throw in the towel
Take this as encouragement to keep going and not criticism, remember to try and shoehorn your setups into whatever the conditions are; e.g. the last time we talked yesty you were bullish, so in hindsight it ran 55 (points?) from lowish to highish in the direction of your original bias, did you place a long trade?
Again, to clarify for everyone reading, I'm not trying to put your trade down or anything like that at all, just encouragement.
You read the scenario right from open but didn't capitalise on your original bias (may be a myriad of reasons, I don't know) so just keep going, don't throw in the towel
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There are some patterns I've noticed with currencies, but it could just be in my head and not sure if equities do the same.
See how the market is rolling over to the downside, I kind of like for the rounded tops to stop or rounded bottoms to start before I fade, for me that roll over and break pattern 'usually' means continuation, until the rollover starts to stop, if that makes sense...
Also, I need to see what is below me if I am planning to fade (long), I don;t like to fade into levels that I consider more likely to break like I posted in my previous post, I like to fade into space, will post a couple of pictures what I mean in a few mins, I see support and resistance in reverse
CanOz
Home runs feel good, but base hits pay bills!
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Note I stole these images from Domino at forexfactory rather than have to draw them myself
I see the support and resistance in the gaps between the levels, not at the levels themselves. I like to fade when there is a lot of space between the level that has just broken and the next one.
So a fade short here I like as there are no levels close above:
It also works in reverse, I like to trade into levels with little space between the levels.
So this ones looks better to me than than the one above because of the compressed levels below it that I am trading into:
edit 1, I like to see the up move starting to level out or rollover as mentioned in the previous posts than just being a straight trendline like the picture above. I like to see the trendline get less steep
2, Some fades I will take if there are no levels I am trading 'into'. This will usually be a quick and extended spike, so there will be no levels, but it has happened far enough and quick enough that a 'vacuum effect' is still in play The typical fade the stop-run kind of play
I see the support and resistance in the gaps between the levels, not at the levels themselves. I like to fade when there is a lot of space between the level that has just broken and the next one.
So a fade short here I like as there are no levels close above:
It also works in reverse, I like to trade into levels with little space between the levels.
So this ones looks better to me than than the one above because of the compressed levels below it that I am trading into:
edit 1, I like to see the up move starting to level out or rollover as mentioned in the previous posts than just being a straight trendline like the picture above. I like to see the trendline get less steep
2, Some fades I will take if there are no levels I am trading 'into'. This will usually be a quick and extended spike, so there will be no levels, but it has happened far enough and quick enough that a 'vacuum effect' is still in play The typical fade the stop-run kind of play
CanOz
Home runs feel good, but base hits pay bills!
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Exactly, just added in an edit to include that after reading you post, because sometimes the stop-run type plays will not have the levels below it to trade into that I have shown in the pics
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One more pic, more to show off my mspaint skills than anything else
If I have one of those high volume spikes I am looking to fade (short), I like to see the rounding on the top, not on the bottom. In the picture I like the setup on the right.
The one on the left is running into limit orders on the retrace
The one on the right is running into limit orders on the retest
If I have one of those high volume spikes I am looking to fade (short), I like to see the rounding on the top, not on the bottom. In the picture I like the setup on the right.
The one on the left is running into limit orders on the retrace
The one on the right is running into limit orders on the retest
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