cowpip

Long @ 204.73... This will probably retest the base, which will stop me out again and erase all of my profits... we'll see...

Misjudged this... stopped for -40. Flat currently.

Closed +81. Long @ 204.05

Moved stop back a little higher to give this some breathing room. 4-hour formed an inside bar. It may retest the upper-side of this bar before choosing a direction.

I totally understand, Wasp. No problem.

Moved stop to b/e... entry is above resistance (barely), so we'll see if this hourly candle is just a stop hunt (which it probably is given how early in the hour it dropped), or if there is real intent. I'd prefer to cash in down around 203.87.

No problem. I think I can see what you're doing now. I appreciate your help. I would be interested in your pip tallies though, and the levels you switched directions at (if you might be kind enough, when you have the time - even if just pm'd to me).

Thanks very much. Have a good night over there wherever your castle is, good king!

Wasp, in your chart, do the shorter term S/R lines (those that formed during the last day or two) have the same weight as the longer-term lines? I guess what I'm trying to figure out is this: what happens when price tests but fails to close above one of the shorter-term S/R lines?... do you short off those lines as readily as off the main S/R lines? I would imagine you would, but am curious if you have any set criteria.

Last question - does this method use an automatic SAR if you're wrong on the direction, or is that discretionary?

It looks like R/R is somewhat similar to your 4-hour method (perhaps a tad reduced on the reward side). Do you keep stops at your standard size, or haul them in a bit?

How do you handle this at night? You don't get up every hour to manage your trade, do you?

Much obliged, sir! That's crystal clear now.

Short-term is probably wise given that this is going to consolidate soon (if it hasn't already begun). Can you help me decipher what it is I'm looking at? The triangles are?.... the numbers are pip counts?... I recognize the S/R easy enough, but I'm not sure by the triangles how you intend to play them.

Ahhhh... But it FEELS so gooooood to blow your load! :o Sorry... couldn't resist.

Trading what? Right now... I'm trading my money for losses! Woo hoo! Everyone should play this game! I don't like the direction this trade is taking.

:rofl: Crap! I was looking forward to seeing you :boxing: some sense into you!

:rofl: Crap! I was looking forward to :boxing: some sense into you!

In the end, it may be the most brilliant thing too... depending on the outcome. :\

Dude, that's either the funniest thing, or the dumbest thing, I've ever heard (depending on where the truth lies).

This landed square on my S/R line. The stiff rejection higher is the signal for my short.

Crap... it won't go higher... Short @ 204.89...

Looking for a better price given where I'd like my stop...

Precisely.

Ditto for +84. I need a win to feel some semblance of normality.