A fresh start! Doji's Trading Journal

[trojoh68]

Sorry. I'm trying to figure out how to post the screenshot.

[MightyOne]

Don't worry, it is very easy to understand...

for_trojoh68.png (102.28 KiB) Viewed 4026 times

[MightyOne]

It is normal to see a sell off that is just shy of a price level...

traders will then usually buy it back lower and take it to the price level.

GBPAUDM15.png (39.59 KiB) Viewed 4019 times

[trojoh68]

Thanks for your reply, MO.

I held my initial long position (because I was low leveraged, it was the midpoint of a 2 hour Mighty Zone, and because I was sick of exiting again amid chop) and closed with a 28 pip profit. Of course, I closed right where you identified the sell-off would occur just short of my target (1.6729). Unsurprisingly, I guess that makes me part of the infamous herd!

Question: The buy line that you identified in your pic, is that because of the close of the 10:15am blue candle above the price line?

[MightyOne]

Thanks for your reply, MO.

I held my initial long position (because I was low leveraged, it was the midpoint of a 2 hour Mighty Zone, and because I was sick of exiting again amid chop) and closed with a 28 pip profit. Of course, I closed right where you identified the sell-off would occur just short of my target (1.6729). Unsurprisingly, I guess that makes me part of the infamous herd!

Once you get the gist of what people are doing then it will take no additional effort to understand sheep.

for_trojoh68.png (48.87 KiB) Viewed 3998 times

It is normal to see a sell off that is just shy of a price level...

traders will then usually buy it back lower and take it to the price level.

for_trojoh68_2.png (4.69 KiB) Viewed 3998 times

[trojoh68]

Sorry MO, I had to step away from my computer for awhile. Thanks for the quick reply.

If I'm understanding this correctly, since bearish traders are exiting their short positions in the same line/area again and again, then it is only a matter of time before other bullish traders have accumulated enough long positions that price will reverse and head toward the held profit of the remaining bearish traders who have not exited. Am I in the ballpark?

I am trying to conceptually comprehend what you and the other successful traders here are seeing. I think that the different horizontal lines used by all of you are visual representations of your mental framework when reading the chart. For those of us that are learning/struggling, I think that the lines mean something different to us than they mean to you.

Anyway, thanks again for your help.

[tom7ak]

Breakout.png (17.06 KiB) Viewed 3967 times

zones and trades are great. Im a little confused, did you alter the ind...the dots are on the wrong end of the candles.?

doji

If Sema is a breakout - we either wait for a return to a pattern or if this doesnt happen and a new pattern is created (1st cycle) we go with it. do i remember correctly, that Sema is highest price of X amount of candles?

Thank you doji, i think revisiting fibs was a good idea

[Mira]

Thanks for your reply, MO.

I held my initial long position (because I was low leveraged, it was the midpoint of a 2 hour Mighty Zone, and because I was sick of exiting again amid chop) and closed with a 28 pip profit. Of course, I closed right where you identified the sell-off would occur just short of my target (1.6729). Unsurprisingly, I guess that makes me part of the infamous herd!

Once you get the gist of what people are doing then it will take no additional effort to understand sheep.

for_trojoh68.png

It is normal to see a sell off that is just shy of a price level...

traders will then usually buy it back lower and take it to the price level.

for_trojoh68_2.png

As for the midpoints?

Thanks MO

for_MO.png (11.81 KiB) Viewed 3941 times

[MightyOne]

As for the midpoints?

Thanks MO

Now you see it, now you can't unsee it.

GBPAUDM15.png (57.17 KiB) Viewed 3894 times

[Jalarupa]

Crazy we all took the same trade... I put this on last night before bed...

Rationale ***

Cone High will resist PA going higher --- Therefore Trade in the direction of MOMO

So placed a stop order to sell and boom!

#Keepitsimple