Master one trick only

[manishchan]

the 4th trade (short),could have been avoided

look at the price movement from support to resistance,it took only 3 candles to cover the distance, where as earlier it took >10 candles on both the occassions
it shows the strength behind the move,i should have avoided the short and would be looking for long post breakout,above the resistance
but i think the pin bar caught me

Thanks anvy, yes, 3 candle thing was good way to observe. But like u said, the pin bar made us blind (me for sure)

 

[avny]

TODAYS TRADES,

1: BOF buy
2: reverse to short
3: revere to long,exit half at upper resistence
4: reverse to short,,exit all at TSL
5: BOF short
6: reverse to long
7:reverse to short,

 

[manishchan]

TODAYS TRADES,

1: BOF buy
2: reverse to short
3: revere to long,exit half at upper resistence
4: reverse to short,,exit all at TSL
5: BOF short
6: reverse to long
7:reverse to short,

Hi Anvy, if you can share your thought on 1st trade plz. I took it wrong thinking :
1. First candle of the day down ..meaning weak. Look for short.
2. Second cand breaks the 3 min (first candle) support so i was waiting for retracement to enter short and entered as soon as it reached the 3min support line.
3. I was also convinced that price is below BRN 6200 which would be good resistance. But ofcource, to my dismay, i was swimming against the current.

 

[avny]

Hi Anvy, if you can share your thought on 1st trade plz. I took it wrong thinking :
1. First candle of the day down ..meaning weak. Look for short.
2. Second cand breaks the 3 min (first candle) support so i was waiting for retracement to enter short and entered as soon as it reached the 3min support line.
3. I was also convinced that price is below BRN 6200 which would be good resistance. But ofcource, to my dismay, i was swimming against the current.

dear u r jumping ahead the trade,rather wait for the setup to complete

i am sure,at the end of day,u can see that there was no short set up

when a strong bear bar is followed by same strong bull bar,it is a two bar reversal set up,because if look at the higher T/F(5min),it will be shown as pin bar
even if u look at 1 min T/F,there was no short set up,there was a bearish pin bar at resistance,but even the low of that pin bar was not breached
so if u want an early entry,go to lower T/f and look for signals

 

[notherwork]

What are those dotted lines.

how to get the support and resistance !

 

[manishchan]

dear u r jumping ahead the trade,rather wait for the setup to complete

i am sure,at the end of day,u can see that there was no short set up

when a strong bear bar is followed by same strong bull bar,it is a two bar reversal set up,because if look at the higher T/F(5min),it will be shown as pin bar
even if u look at 1 min T/F,there was no short set up,there was a bearish pin bar at resistance,but even the low of that pin bar was not breached
so if u want an early entry,go to lower T/f and look for signals

Hmm.. very valid points. Thanks Anvy !!

 

[avny]

What are those dotted lines.

how to get the support and resistance !

there are two dotted lines,one is previous day close and other is today's avg price,these are plotted automatically by terminal

for support/resistance,i am using high/low of 1st 3 min bar

furthur support/resistance can be obtained by joining the swing high/low(the point from where price take major turns)
google it for more details

 

[notherwork]

thank you anvy !

and all the seniors...

Can you post the trades as soon as possible..so learners like me can check it in live market for trade/paper trade.. (before we can afford to setup on own )

 

[manishchan]

thank you anvy !

and all the seniors...

Can you post the trades as soon as possible..so learners like me can check it in live market for trade/paper trade.. (before we can afford to setup on own )

Anvy posts his traded chart for all of us. I suggest you go through this thread from beginning, read the YTC book, and try to identify/paper trade in the live market. At end of the day, you can compare to see how anvy did vs you did.

 

[avny]

thank you anvy !

and all the seniors...

Can you post the trades as soon as possible..so learners like me can check it in live market for trade/paper trade.. (before we can afford to setup on own )

posting in real time is not posssible for me,as it creates a distraction and once i have an open position,i keep my all attention there
2nd thing is,if i post live,then it becomes a call for somebody,and i want people to learn rather than follow a call
once u understand the price action and setup and how it works,than u dont need anybody,u can manage yourself
from last 4 months i am posting my trades daily with charts,so one can understand the concept and use it in his own way
hope u understand
thank