Thanks for sharing. So you only use fib retracement and extensions on the daily chart?

Reversals vs. CounterTrend Trade

Ok, so your idea is before going long from a trend reversal (timeframe depends on preference, I use 3 min chart intraday entrys) is to wait til a key resistance is broken and NOT the choppy support and resistance (or back and forward we seee down ...

Reversals vs. CounterTrend Trade

I agree with you. But I struggle with shorting resistance.

Reversals vs. CounterTrend Trade

url Lets talk about this chart here for a moment. I am picturing this on a lower frame intraday chart. Cause its really good example. For me I see range bound from left to right. Then failure to breakout of the range. Look at the last leg about ...

Reversals vs. CounterTrend Trade

Very good chart for some examples 1. Would you have short, after price failed to hold confluence support? 2. Your buy signal, I would go long would good trade management.

Reversals vs. CounterTrend Trade

Thanks, What I would like to do is get better at trading the trend on that day rather then focusing on a reversal. I notice my most losing days are on big down days where I missed the short or don't get enough entry to go short. Then price comes to ...

Reversals vs. CounterTrend Trade

Exactly my point. Countertrend trading with full evidence and manageable stops is decent risk. I trade the ES, but the concept is the same. But I notice my most losing days (paper trading) is when I trade against the trend in hopes of a reversal. ...

Reversals vs. CounterTrend Trade

Yes, I do struggle with trend. Thanks for help. What does PA mean? I could be wrong but the way I look at trend is determine trend of the moment. By this I mean, I look at my 15 min chart in the morning (i day trade only), if the direction of the ...

Reversals vs. CounterTrend Trade

Thanks for the comments. So in other words, the simple approach is to the buy support with enough evidence and let the market make the decision on rather to reverse the current trend or continue. I just here people say don't counter trend trade, ...

Reversals vs. CounterTrend Trade

Thanks for your example. But it is still a bit confusing. Because from your picture, buying the while the trend is downward is coutertrend. Buying when the trend is down is the same buying the reversal. Countertrend and reversal is the same. Maybe I ...

Reversals vs. CounterTrend Trade

I agree. I don't mind the losses. I can live with the predetermined loss I have set. What frustrates me is mistakes. Rather the mistake be moving the stop back for bigger loss or exiting the trade to early for smaller profit, or just missing the ...

Just how well do you deal with loss?

I trade the /ES so 2 points is good enough. Far as solid entry plan, it varies, sometimes I get a good entry, and sometimes I don't. Right now my focus is making sure I am headed in the right direction with price and taking action.

Opinions on My Trade Plan

Thank you 60minuteman for responding. I strongly agree with you. For nearly 1 year, I have done nothing but break even. Cause all trades are not discipline trade ( move the stop back a bit, the one more catch the bottom trade, etc) I agree fully. ...

Opinions on My Trade Plan

Here is my exact entry plan 1. What way is price moving up or down? Lets say its up for this example 1.a. I like to get in on the first (or second retrace) if price is trending up (or down). 2. I wait for price to get above some resistance level or ...

Opinions on My Trade Plan

Hello, Lets start with some simple things first. 1. Do you plan to obtain a college degree and work full time at that career? If so, do you plan to trade part time? I would focus on obtaining a good paying job that will pay you well for 8 hour a day ...

seeking advice for next steps... a bit lost

Thank you kindly for the book. I downloaded Trading_Price_II. Should I be reading the first book? If so, is their a link to the first book. Thank you

''Trading Price II'' by PhAnti - have fun

Hello, I think bar vs candlestick depends on what makes sense to the trader. I per candlestick because that is what I used the past two years of trading.

Anyone else prefer bar charts to candlesticks?