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Niko

Niko´s Log

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Yes it probably will, now, as I said before, oil is not really that respectful of S/R levels, it ussually overshoots so we will have to wait and see as always.

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Is inventories day, so I wont trade this market today.

 

In the daily we seem to be forming the RET after the BO, after finding R at the MP of Feb-March TR.

attachment.php?attachmentid=36923&stc=1&d=1377695802

In the hourly we finally broke the DL after midnight and are in the process of making a LH which is bearish.

attachment.php?attachmentid=36924&stc=1&d=1377695802

In the 5 min after a strong downswing buyers were unable to break above the MP of the downmove, bearish as well.

attachment.php?attachmentid=36925&stc=1&d=1377695802

 

At the open sellers pushed for a LH and got what they wanted.

 

Buyers beware

5aa711fc0a244_CL10-13(1440Min)29_08_2013.jpg.88245d5868d5f8976ce5d9fee2b20b3d.jpg

5aa711fc12f8e_CL10-13(60Min)28_08_2013.jpg.48742d7c0b91bd34ccc43df34a49f02f.jpg

5aa711fc186ed_CL10-13(5Min)28_08_2013.jpg.0a49680e91dd82fdc2261bc4f11e9ebc.jpg

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Couldn't post yesterday.

 

In the daily today looks like we are in the RET that follows the BO of a hinge.

 

attachment.php?attachmentid=36933&stc=1&d=1377868457

 

In the 60 min we are still in a downtrend, but we are facing buyers at 107 and 7.50. Besides we are still above the up trend line from aug 21.

 

attachment.php?attachmentid=36933&stc=1&d=1377868457

 

In the 5 min we started the day in the chop, and S as appeared around 75.

 

attachment.php?attachmentid=36934&stc=1&d=1377868457

 

As always, avoid the chop, waiting for a BO of the TR that formed between 75 and 8.15.

5aa711fc3adbb_CL10-13(1440Min)31_08_2013.jpg.fcd47450133d9da29029ddf8b339f25a.jpg

5aa711fc4094b_CL10-13(5Min)30_08_2013.jpg.7be4bad754c299f9e143e5e3dab0f3d1.jpg

5aa711fc46139_CL10-13(60Min)30_08_2013.jpg.80599f8efbbdfbf30ae756aa1e5bae28.jpg

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Trade recount:

 

5 min chart

 

attachment.php?attachmentid=36937&stc=1&d=1377882235

 

1 min chart

 

attachment.php?attachmentid=36938&stc=1&d=1377882235

 

1. After prices exited the chop at 10:10 I waited for a test of 20 as S, when there was a strong rejection from buyers at the top of the TR i took the long at 23. But buyers failed to gain a following and prices faded prompting an exit.

 

2. I knew I was in the chop, but sellers had failed to make a LL so i decided to jump in at 06. As I thought 20 could be conflicting i decided to close half my trade at the first sign of danger and leave the rest open at BE. The first half was exited at 13, and the second at 7.

 

3. As sellers failed to get a following I decided to take the next RET in the 1 min, but it failed to break above 20 and then I closed the whole position.

 

4. As buyers had failed to break above 20 and the DL was broken in the 5 min I decided to take the short at 8.00, it proved to be the best decision of the day. Closed half at the break of SL in the 1 min and the other half at the first sign of REV in the 5 min, I could have stayed a little longer for the test of SL in the 5 min but I had to go. Perhaps I should stay a little longer next time :)

5aa711fc50fad_CL10-13(5Min)30_08_2013-2.jpg.a1827deaf8860e4d9b462947b3f8a0e0.jpg

5aa711fc55c74_CL10-13(1Min)30_08_2013.jpg.548a4302146d289278f6db6f2de4ea6a.jpg

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I would say that the great mistake of the day was not taking the REV off 560, buyers tried to find followers above the PML and failed, this also meant that the traders who where looking an exit above the hinge got trapped. The strong downwave is the view of the heard rushing for the exits.

Analysis.jpg.5322034791b3de84172a20b0335af98e.jpg

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So it was lack of patience my mistake today, Db stated that it was better to wait for a test of the extremes but somehow I resist to sit on my hands all morning and get creative.

 

If it wasn't for scratching and the fact that I can restrain myself from making stupidities better than before It could have been a messy day. Things to recall and to take into consideration was that I could keep my cool and focus all morning, no matter how boring it was.

 

I guess my regret was not taking that long of the bounce of 39, but then I think It would have reinforce a bad habit, so is a give and take. And always remember, better days (trend days) will come and will make it up for you.

5aa7121dc01e3_NQ06-14(60Min)30_04_2014.jpg.f1b971503f59a86b2711563abe869dcd.jpg

5aa7121dc6693_NQ06-14(1Min)30_04_2014.jpg.92e092d5bf1f2e016e53f4ca45aa826b.jpg

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Prep-work

 

We are still inside the TC we were yesterday. Seems, as Db mentioned we are on our way to 90.

 

ON traders couldn't find trades above 85 nor 73

 

This thread has been moved to SLAMTZEN in the Wyckoff Forum. In case anyone cares :(

5aa7121dea42a_NQ06-14(60Min)01_05_2014.jpg.39ea89f825ec3975c193fb38627137df.jpg

Edited by Niko

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hell yes we care! we'll see you around, Good trading

 

Hehe, see you around, good trading to you too. What has happened to your journal?

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