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Thanks trippen for the additional tips. Yes, Big Mike's videos are Great! He definitely did a great job in clearing up my HH/HL myth. Thanks again Big Mike!
Beth
Can you help answer these questions from other members on NexusFi?
I rated their probability of success in ()strictly based on my instinct and nothing else. Appreciate additional tips/ideas/comments to enhance my PA learning. Thank you!
LOL, sorry - you've got nothing to be embarrassed about, if I was happily married still I'd be posting about it too It's quite an accomplishment these days.
It's another baby Green morning. I did a 1-contract one because my earlier attempts (at better prices) did not get filled. It's another Open Drive "down" morning and I was unable to identify a short entry based on Perry's 4-Range set-up. When the Lower VPOC 1161 got touched (no rejection), I spent some minutes to locate the next one. Should have it handy - lesson learned.
The next VPOC is 1154 and price went close enough to touch it @1154.75. Considering the time lost in finding it, I missed entering a long at a more favorable price. Actually my first long attempt was around 1157.50, then 1158 .. ..
At the time of writing, it's moved back to the previous day's value area (2nd 30-minute bracket). It may try to get as far as up to the Top VPOC (also yesterday's POC) at 1170.75 or simply trade within today's IB (it's over 10-point range). Well, just my expectation and forecast LOL!
Goals Accomplished:
1. Followed the Trade Plan (back to MP and Perry's set-up).
2. No Over-trade.
Confession: I did look at an ES Naked chart for price action occasionally .. haha ..
Have a Great day.
Beth (Thanks Mike for including a Photo Album link to his post. You are welcome to have glimpses of 2 "big" kids who are always young at heart .. smile ..)
Instead of finding the next VPOC, I could have traded with the Initiative Selling since no rejection and no responsive buyers on the drop!! It's just too early and I prefer having the first 10 minutes getting a feel ... Well, Perry's set-up did have a great short aligning with the MP Gaps Initiative Selling trade set-up (first big blue ellipse).
Funny that we had an Open Drive down pre and during market open, yet I can only identify long trades on the enclosed .. based on my limited PA knowledge!?
When I checked them against Perry's 4-Range set-up, both aligned.
ES went all the way up to the Top VPOC (also yesterday's POC) at 1170.75 with acceptance. Then proceeded to yesterday's VAH @1173.75 and stopped at 1173 with more selling.
I practised my MP set-up (Fade the Extremes) and sold 2 @1170.75 (tried higher price and did not get filled). It's lunch time and more uncertainty I've found. Got the first PT 4 ticks and tried to realize more with the second contract. It touched 1169.25 (my second PT) a few times without filling me. I moved SL to a tick in my favor and closed with another 4 ticks profit.
Done with my MP practice for the day. It's not an official sim trade LOL!
I'm glad that I have started seeing more in view of my limited exposure and knowledge. Well, I don't need to trade a lot .. a few high probability trades or even one will be Great!!