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Not sure if this forum is still frequented, but would love to share ideas and talk about the concepts of the blog. I have been working at the blog and concepts for close to a year and still missing some key things as far as what is important or significant in a move/leg. Will happily share details that I have picked up along the way and look fwd to chatting.
I also have studied the blog for a bit. I usually don't get on here as I have a skype group to discuss trading with friends . But if you enjoy discussing the blog and trading I'll discuss it with you. What did you have in mind to share?
From the way you put things into words, im sure your understanding is much better than mine of the blog and concepts within but i find targeting to be an issue for many that read or have read the blog. For instance, if retracing a leg down and you hit a leg untested from a valley on the left, what should you target? The previous peak to your left, the candle to the left of its high, its high wick is support that was gained correct? Also one issue i face is knowing what can not be gained or lost within a move, or you know it is going to the leg start? At whst time do you know with certainty that a new low or high will be made? What exactly do you pay attention to as far as a specific candle or area/congestion within a move? Hopefully some of what i asked makes sense, some of these concepts are hard to put into words.
Biggest thing is fitting the legs together from the significant high/low . Start at the bigger and work ur way in. And zoom out. Peeps always wanna zoom in to much. If you can see each individual candle ur zoomed in to far
Regarding your question about targeting, if you were going up a leg down you should be focusing on the peaks, what that peak lost. Not the valley . Valleys are important yes, but InContext, when you smack you turn around and follow the move up that Brought you to where you smacked and find what you gained on that move up, then look left to the primary leg for context.
Good point !!! I am guilty of that one. It is to easy to get sucked in to the little details in trying to perfect things. Part of the learning curve I suppose. I appreciate the quick responses, you seem like you know what your talking about. Am busy tonight but will attempt to post some charts on this application with some questions possibly tomorrow. I will try and think of some specifics. past price action of course. Not looking for handouts just wanting to learn.
so it hit the leg start, hit what the previous low had to gain and failed but recaptured it on the second try. If it had not recaptured that 1977.5 the down move would have continued. So something I am working on is knowing what can or can not be gained or lost so I am on the right side of a trade. Why I like to pay attention to lows and what they had to gain and highs what they lost. Also picking up on moves where say you go short at what a high lost but you are in a strong up trend and price pushes past and your stopped out above the high. Price typically comes back to what that high lost and pops hard to continue its up move. Also the same for a down trend and you go long at what a low gained but it pushes through. It often pops back up to what the low had to gain then drops hard to continue its down move. I feel that I am paying attention to the right spots, but feel free to correct me if I am not understanding completely. Thank you in advance for your responses.
and while its still fresh in my mind, if your in a down trend and you take that long at what the low gained but price pushes through, makes a new low but comes back to the low where you initially took the long, that gets the test of that significant area out of the way, so when trend eventually reverses, that area is already tested and will likely bypass it momentum pending. Have a great wknd , talk with you soon.
First , always start from the bigger . Always! And you will the significance of 1968 and why we ripped . It's a weekly level and former leg start. So a new weekly high was on tap.