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Okay, I am confused. I thought it wouldn't let me post with an attachment, but it looks like it posted my attachment after all. Anyway, here is what I had originally written for this post:
I would like some feedback on my attached chart. I am looking at the 6E from today. I still am relatively new to your methodology here and this is just basic stuff like from the early posts of your journal. I know there are some more advanced things covered in later posts, like trendlines off of trendlines, but I just want to start at the beginning and see if I am clear on this much.
I am using a 400 tick chart and I chose to use the 55/144 moving averages.
I have marked up the chart accordingly:
The little blue diamonds are marking the reference points where I determine the midpoint between moving averages to draw my trendlines.
The red arrows are my entries (red arrow=short)
The green trendline and green horizontal line are connected - they are taken from the first diamond, which is my first low after the MA cross.
The blue trendline and blue horizontal line are connected - they are taken from the second diamond, which is a new low that was put it.
pj -your assesment -is right on -its my belief that you understand what your seeing- watch the breakout trades off the first trendline off the first low -you see how price stacked up and then popped the trendline
:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
if anyone is interested -we can skype trade thur Feb 21th -i will share my screen -and you can watch or play along - just looking for 1 slightly new trader -thankyou
we will be short hop trading -small moves -so you can understand to stay on the correct side of the trend
creekboy111 on skype
:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Thank you for all of your posts. I began from the beginning and read about 25 pages and have subsequently jumped towards the end (Please forgive me, but wanted to see what was happening)
I have a few questions:
1. I see that you are now using 3 ma's together. Do you wait for the 3 of them to cross then plot the t/l?
2. How long do you keep the t/l on the chart for?
3. With regard to entry, are you looking for either a break through the t/l or a test and then a continuation to the same direction? What is it dependent upon?
4. Will you be doing another skype trading day anytime soon?
Sorry for the rather simple questions but am just a beginner.
1- there are 2 ma,s and a fib/balance line that the trend line follows,the plotting starts on the lower or upper cross of the ma,s and the trendline stops on the high or low point of the center balance line
2- it can be remeoved at any time ,unless your looking for cluster areas
3- watchin for continuation ,or a break with the last high or low being the risk
:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
NQ - i dont recall ,i adjust them every 10 days or so , if i have a couple of weak days i start looking for the adjustment, did you try blowing the pic up to see, also what is the post # for that day and time.
thansk
:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005