REVERSAL DAYS(CONT)
APR 1ST:V-PATTERN on the 15 and 30....no pivots.Of course we have our 2 bar back stop at 4742,but the 60 giving us a clear cut pattern entry earlier at 4734.
MAY 12TH:A horrid day....short below BAR 1 at 4954,covered at 4975 + 7=4982.....Long at 4982,sold at 4930......short at 4930,cover at 4977....Long at 4977,add at 4997,sold at 5037.......still day ends with losses.Few things:Not taking the reversals would have put you in great profits this one day.....and led to great pain on other reversal days.We got a pivot on 15,and a reversal signal on 60.......going through this day and "learning" from this day,and then never taking reversal points on the 60 is even more detrimental than taking the losses for this day.......It is on these days that one hears wise crack statements taking into account this one day and forgetting that this one day is just one in many many many days.
Another thing:Look at the pattern on the 12th of May.....a breakdown bar(BAR 6),a Wide Range Bar on high Volume,making new lows and then unable to close in new lows...a failed breakdown and an exhaustive last ditch bid by bears to push price downwards.Next bar is a bullish bar.Go long the high of that bar,in this case at 4970+7=4977
MAY 13TH:The 14 moving filter kept us out of the long trade for 7 bars before getting us into a short from the next bar......Easy and clear cut.
Jumping a few months to a few difficult days:
OCT 7TH:14 mov filter keeps us out of Move 1 of the day.....Shorts in place after that,and BAR 5 on the 30 ends up as bottoming tail bullish candle.No pivots on the 15min.Stop loss brought to the high of BAR 3.Move 3 up does not take our stops off,and then a fall to newer lows.......and then we have that pattern again.BAR 8 ends as a WRB on high volumes and closes at the low point of the bar.Watch for the next bar.......bullish as expected.Reverse above the high of that bar.
OCT 8TH:A clear cut day......Short below the low of the 1st bar.At BAR 5,stops at high of BAR 3,......REVERSE to longs and hold.
OCT 10TH:First move had a visually clear pivot on the 15min.....at 3320.Although the breakout candle did not go to new highs of the day,closed higher than the previous candles,and then no follow through.Failure to go to new highs......tighten stops to low of that breakout candle...3342 - room.......Short at 3335,covered at 3336.....above the 60min HH.After that,a long and sell at around the same areas.
All the best!
Saint
APR 1ST:V-PATTERN on the 15 and 30....no pivots.Of course we have our 2 bar back stop at 4742,but the 60 giving us a clear cut pattern entry earlier at 4734.
MAY 12TH:A horrid day....short below BAR 1 at 4954,covered at 4975 + 7=4982.....Long at 4982,sold at 4930......short at 4930,cover at 4977....Long at 4977,add at 4997,sold at 5037.......still day ends with losses.Few things:Not taking the reversals would have put you in great profits this one day.....and led to great pain on other reversal days.We got a pivot on 15,and a reversal signal on 60.......going through this day and "learning" from this day,and then never taking reversal points on the 60 is even more detrimental than taking the losses for this day.......It is on these days that one hears wise crack statements taking into account this one day and forgetting that this one day is just one in many many many days.
Another thing:Look at the pattern on the 12th of May.....a breakdown bar(BAR 6),a Wide Range Bar on high Volume,making new lows and then unable to close in new lows...a failed breakdown and an exhaustive last ditch bid by bears to push price downwards.Next bar is a bullish bar.Go long the high of that bar,in this case at 4970+7=4977
MAY 13TH:The 14 moving filter kept us out of the long trade for 7 bars before getting us into a short from the next bar......Easy and clear cut.
Jumping a few months to a few difficult days:
OCT 7TH:14 mov filter keeps us out of Move 1 of the day.....Shorts in place after that,and BAR 5 on the 30 ends up as bottoming tail bullish candle.No pivots on the 15min.Stop loss brought to the high of BAR 3.Move 3 up does not take our stops off,and then a fall to newer lows.......and then we have that pattern again.BAR 8 ends as a WRB on high volumes and closes at the low point of the bar.Watch for the next bar.......bullish as expected.Reverse above the high of that bar.
OCT 8TH:A clear cut day......Short below the low of the 1st bar.At BAR 5,stops at high of BAR 3,......REVERSE to longs and hold.
OCT 10TH:First move had a visually clear pivot on the 15min.....at 3320.Although the breakout candle did not go to new highs of the day,closed higher than the previous candles,and then no follow through.Failure to go to new highs......tighten stops to low of that breakout candle...3342 - room.......Short at 3335,covered at 3336.....above the 60min HH.After that,a long and sell at around the same areas.
All the best!
Saint
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