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NAVEEVIa
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Everything posted by NAVEEVIa
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Here are my levels , nothing of note on the upside ,also NQ is approaching demand line.
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I fully agree with what you are saying, buying/selling because price is at potential S/R does not appeal to me though one can do that with a tight stop. I am watching a 10 tick chart & price bars to see rejection or confirmation of price.
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Long again at 1765.75 , expecting middle of todays range 1770.stop at BE Stopped out
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I was long at 1765.5 out at 1775.5, went for a 10 point target instead of a beak of TL or high volume since only my second day trading NQ. Got lucky i guess.
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We had a steep ascent since bouncing from 1650, with price already hovering above midpoint of that long congestion zone between 1740 to 1780. Just wait & watch mode for me.
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Heres the chart. Once these levels are there i would pay more attention to boxes & swings high/lows for the day & how market reacts there.
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Please address me a Naveen thats my name. Well i did see those flips of S/R on the chart i posted but did not deem them as important. Why i asked this question was price did find S there & then a buying wave started. Here is my understanding of S/R as DB teaches. 1. Price areas where lots of trades have taken place , so the congestion boxes we draw , the midpoint will represent lot of activity & lot of traders will go green/red in their positions. 2. Areas where traders are unable to find trades which will be swing highs/lows. I would not put 1680 in 2nd category, since price went thru that level first down & then up, contrast this with 1730 which clear must be low volume area. Please correct me if this is wrong
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Db i have CVB chart with 1680 marked , could you please explain why you would consider it important
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This is an example of breakout at R with continuation. The second chart shows how trader would have seen first bar at R. Dax is instrument. How does a trader reckon going long since V has enterd at R , would you callthe congestion a springboard.
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Current chart of TY, it did find support at 24, i have long at 26 on demo but i dont know whether PA tells me about rejection, can anyone point me to right direction.
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NQ & TY Levels I will be watching today.
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I will be watching these levels on NQ. Can i post for other instruments like TY
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Db, I am also interested in knowing whether these price boxes, their edges & mid points as potential S/R is something you have integrated in Ws methodology or did W talk about it in his course.
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Db, I am starting fresh with wyckoff & have have forgotten all about VSA , market statistics etc. The simplicity of Ws approach appeals to me. I remember in your post 3 here http://www.traderslaboratory.com/forums/f131/dbs-cajas-famosas-3882.html You did say to take a long entry if R is broken ( The context of the chart in that post i am ignoring so forgive me for that) I understand that breakouts do take place at extreme & a successful one has little drawdown.
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Db I understand that midpoint of ranges represent equilibruim & lot of trades & hence potential S/R. What i have difficulty & many traders have is buying at R or selling at S. e.g the current wave is buying wave & price reaches R & forms a congestion area & the i see a long upbar bar on the upside , we maybe looking at possible exhaustion above us but does Wyckoff recommends buying at R or selling at S if all evidence if buying/selling pressure is manifest there as per price action. Say NQ reaches 20 & forms a range with rejection at upper part of range & then a long downbar towards ,a sell would be consistent with W or not.
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Db I have qusetion regarding attached chart. I have my levels marked before open. Today i had 1765 1750 as R & 1740 1736 1720 as S. Market rejects 50 i did not trade it rejects all S after confidence data except 1720 Now should i look for trading opportunities at centre of these boxes or not. Once a session starts should i still be looking for S/R from days back or should i consider the congestion area that form in current session like the 3 boxes here. I have not read all material so maybe you have answered this. Thanks, Naveen
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I am demoing NQ . Attached will be levels i will be watching. Good Trading Naveen
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DB i am confused regarding swing pts & low/highs, since these are an important part of trend( mainly that uptrend is intact even if lower low is there but Last swing point is not violated), Can you please explain these points in one of your charts i have attched where you touched on this subject.
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here is what i was trying to say 1. i use line charts to find out trend, a small dip at around 12:10 , i marked it as lower high/Lower low on same bar & was subsequently stopped out 2. Candlechart has all pts marked as red dot can somebody explain swing pts & lows/highs on these charts
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Whats the difference between Swing points & highs/lows An uptrend is intact if lower high is not lower than last swing pt., whats the difference between the two A chart will help greatly Thanks
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At support /resistance levels is it better to switch to volume charts i.e. push-pull will be better reflected with volume charts
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So by judging price movement on unitary volume you can observe this resistance.? Can you please elaborate on this
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Questions 1. How to identify a swing point in real time? I can think of only one method that aswing point will usually be accompanied by a volume peak.
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Plan not followed. Rule no. 1 now is to stop trading after 2% loss . Here are the trades