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Thanks Silverter,gio and taj for the feedback in the thread over here . I'm following along and see now how powerful the reversal bars can be . I went short at 1300 est , I see a reversal bar at 1255 and the 1300 bar closed lower , I took off 3 pts on the 1st car and am letting the rest trail , thanks for the insight .
Can you help answer these questions from other members on NexusFi?
excellent trade, very well done. not sure about the reversal bar. I might look at a reversal bar different than others. for me a bearish reversal bar has open and close on the lower part of candle. I like to take these kind of trades after an up or down move with increased volume. perfect example is at 11:25. down move with high volume and then bullish reversal bar. these are good indications for me for a trend change.
just for grins - try this lil trick next time when ur fixing to put on a trade and looking for support or where to get long
using fib 1.272 u can find an isosceles triangle (gann crap)
use ur fib extension time tool thingy and anchor from previous low to swing high and find square time of fib 1.618
and also use ur fib extension tool thingy to find price square from the same pivots (u just created an isosceles triangle and squared price and time - how bout em apples)
price is going to have a tuff time getting thru this level - it cud happen but its going to be real tuff
some guys call this a fancy name such as harmonic trading but down here in the farm we just call it horse trading
one last trade. good example for bullish reversal bar with higher volume. unfortunately missed target by 1 tick and then stopped out at + 4 ticks. not complaining, win is a win.