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PrymeTyme
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zzzz... wassup ?
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any plans on a HL , DBL bottom , , Dog that didnt bark ? or a break ?
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next up..
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watch..
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First of all , iam not saying that this is a winning strategy !! .. but a frame work where u can start to build a plan based upon... yea , i guess its not the answer u where looking for.. but noone can help u find ur answer of beeing profitable/consistant/ and comfortable trader ,thats all upon u!!!! Extremes are , support/resistance.. or AMT wise the outer limits where price gets rejected as unfair.. (high or low) that is..(Sup/Res.) where price reversed more then one time.. it can be a straight horizontal line.. or a diagonal line.. ie- a channel.. a channel is nothing more then a diagonal trading range... an extreme can happen during an intraday session aswell . like u mentioned.. but in the end an extreme is an extreme no mather what timeframe u r looking at.... u know what i mean ? cheers
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i encourage everyone to set your focus on the extremes.. for example.. if price trades towards a "resistance" level.. what could possible happen ? right either price reverses or its breaks out... thats all there is to it.. now , we all have been there .. as soon as u enter a reversal trade.. based on a broken DL and a retr. which even forms a LH .. but price pretty much goes nowhere.. just drifts along your entry at best... most get nervous... and are like WTF... but u can give price some room at the extremes.. even if it goes the otherway at worst u make a small loss.. so what... u will get a chance for a re entry eitherway.. ie. a breakout+ pullback .. or a rev. and if the next entry again doesnt work out (fakeout)(shakeout).. so what.. 2 small losses in a row... oh my.. just step aside.. and wait till u get a clear view... no one has to be in the markets all the time... wait till everything is in its place..
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if ya trading, its a never ending task.. there is always something wich could be mastered better.. but the question is ... are u reverse optimizing ? ... (dead end cycle) u know , u cant be correct all the time.. but if u have a sound knowledge and a plan.. which in the end is profitable.. and gives u the feeling of consistence.. ie.. making profits in the long haul.. there is no need.. to improve every entry / decision... ... even if u backtest .. and see something which isnt quite what u are looking for.. ie.. it worked X times but then all of a sudden it doesent seem to fit in your perspective..ie. doesent work out as expected.... so what .. anything can happen! even more so.. if u trade live and make decisions.. as it happens... u can only make decions based on your experience.. but keep in mind.. that anything can happen.. both ways.. either propell ur profits.. or.. ( a small) loss ... u need to find peace with it... else u r running in circles
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well the TA implys just that! if 1.3700 has been the fair price since 2009 .. and its Now an unfair price (rejectet) .. in terms of to expensive... .. aswell as . the fact that we made LH LL .. before th fair price got tested ....,,,aswell as the selling pressure is higher atm.... its almost obvious that we might test the lows of 1.1900 ... before we go any higher by now
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uhhh yea ! thats surfing .. my alltime fav. quote : the surfer: The best explanation of a plan is "the surfer" who goes surfing. Goes down to the sea. Checks the weather conditions. Is the surf up?. Is the breeze on-shore or off-shore?. If the conditions are right, jumps on the board and paddles out 300 meters. And waits. Waits for the right wave. There are many waves. The key is to pick the right wave. Don't want to pick one too soon or too late. The choice of wave comes from seasoned experience. Not a surfing plan. A surfer does not go out surfing with a surfing plan in mind. The conditions of the moment on the day will dictate the play. Depending on the conditions, what was a good wave yesterday might well be a poor wave today.
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Sorry Couldnt resist ! It works . . .
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[ame=http://www.youtube.com/watch?v=G0HvpwTS1xc]Ezra Furman and the Harpoons "Take Off Your Sunglasses" - YouTube[/ame]
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gotta be prepared .. 15 Min HLF
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ooops Daily: Hourly:
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i dont think iam doing anything wrong here guys.. just some exerpts of the OG wyckoff course .... .
