More charting. This one with price moving up and down the SMA to practice a ranging example. I think I'm starting to see it.
The yellow lines are the BO lines for the reversal; wait for price to break to finish the reversal, and then trade the continuation when it happens, which should be the next line. Long triggers when the SMA is sloping up, short triggers when it's sloping down.
I spent some time on the second short to understand how it worked, but I think that counts as a failed continuation. Instead of forming a bearish continuation, it 'mutated' into a reversal pattern, which then gave a continuation pattern to the long.
Am I getting closer?
Scalping: 3LZZ DSR
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Re: Scalping: 3LZZ DSR
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A crooked one and a textbook entry.
1st trade is a crooked one, about 3 R.
2nd trade is a textbook, about 9 R.
Can you see the reversals and continuations? Some of the trades were not taken due to low scores in trade grading.
Go out. Play.
A crooked one and a textbook entry.
1st trade is a crooked one, about 3 R.
2nd trade is a textbook, about 9 R.
Can you see the reversals and continuations? Some of the trades were not taken due to low scores in trade grading.
Go out. Play.
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Re: Scalping: 3LZZ DSR
I took that one and marked it up as an excersise to keep practicing the chart progression on candles.
I see:
1) Continuations.
2) Failed continuations morphing into reversals that make small trends.
3) Failed continuations morphing into reversals that don't make a trend, and then goes in the original direction.
Maybe I'm being repetitive or obvious, but every reversal starts as a failed continuation pattern, no?
Question, am I being to loose in how I'm drawing the lines or the chart? Going from candles to lines means merging certain moves on the candles, so I don't know if I'm missing some or I'm 'over-drawing' and need to space out the swings a little bit.
I see:
1) Continuations.
2) Failed continuations morphing into reversals that make small trends.
3) Failed continuations morphing into reversals that don't make a trend, and then goes in the original direction.
Maybe I'm being repetitive or obvious, but every reversal starts as a failed continuation pattern, no?
Question, am I being to loose in how I'm drawing the lines or the chart? Going from candles to lines means merging certain moves on the candles, so I don't know if I'm missing some or I'm 'over-drawing' and need to space out the swings a little bit.
Re: Scalping: 3LZZ DSR
Drawing it live is similar but it has some nuances when drawing the moves.
If I use every candle it can get harder to follow, but then I can be missing some information.
I imagine there's some subjectivity involved. The runs still would look 'similar', but with either fewer triggers / failed continuations / reversals.
If I am more specific with the candles it might look like this:
If I use broader moves it might look like this:
If I use every candle it can get harder to follow, but then I can be missing some information.
I imagine there's some subjectivity involved. The runs still would look 'similar', but with either fewer triggers / failed continuations / reversals.
If I am more specific with the candles it might look like this:
If I use broader moves it might look like this:
Re: Scalping: 3LZZ DSR
More charting. I started backtesting to start practicing as price moves with the strategy tester on mt4. I know tick data isn't super reliable but I just use it to know which side of the swing came first (as there are some candles that wouldn't give me the entire story).
This a random date from this month before my session, but the moves are there. There might be other triggers earlier, but I took 4 trades, 4 winners. Going for 1:1s for now.
The last one took a bit to play out. But really there was a reversal forming in there. In cases like that would it be a good idea to reduce the loss when a pattern 'morphs'? Or just let it play out?
This a random date from this month before my session, but the moves are there. There might be other triggers earlier, but I took 4 trades, 4 winners. Going for 1:1s for now.
The last one took a bit to play out. But really there was a reversal forming in there. In cases like that would it be a good idea to reduce the loss when a pattern 'morphs'? Or just let it play out?
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Re: Scalping: 3LZZ DSR
A couple more 'live backtesting' (if that's even a thing lol ).
Using the SMA as bias:
Only taking longs when the SMA is sloping up.
Only taking shorts when the SMA is sloping down.
I consider it a 'fail' if it fails to make at least the distance of the last swing (like if it fails to make a 1:1).
9 or 10 winners (depending if I take the first long as the SMA was just turning), 3 losers.
The PA was a bit spiky when the longs came up, but the moves were there still. It gets a bit messy drawing these lines specially on MT4 were it snaps vertically to each bar. Or maybe I should use less lines
Detail of the messy area:
Using the SMA as bias:
Only taking longs when the SMA is sloping up.
Only taking shorts when the SMA is sloping down.
I consider it a 'fail' if it fails to make at least the distance of the last swing (like if it fails to make a 1:1).
9 or 10 winners (depending if I take the first long as the SMA was just turning), 3 losers.
The PA was a bit spiky when the longs came up, but the moves were there still. It gets a bit messy drawing these lines specially on MT4 were it snaps vertically to each bar. Or maybe I should use less lines
Detail of the messy area:
Re: Scalping: 3LZZ DSR
Playing around in M1 now (at not the best market hours lol) to keep up the chart practice as it happens, still works!
Re: Scalping: 3LZZ DSR
I thought I had a GU chart. Well it still works
Could it be that I'm finally starting to follow price?
Could it be that I'm finally starting to follow price?
Re: Scalping: 3LZZ DSR
UJ. The only reason I'm moving pairs is because I want to practice seeing the bars/candles as moves and figured this one might move better in Asian session, hence why I'm drawing everything. But it still works.
Re: Scalping: 3LZZ DSR
Ok more charting on the EU. Between MT4's trendlines snapping and my own charting it looks like a rabid cat mangled the crap out of my charts. But again, I'm trying to get used to the patterns and their crookedness
Didn't take the shorts because bias was still long, but just following price and waiting for stuff to happen.
Tomorrow I'll go back to GU and see how my session plays out with this new knowledge
Didn't take the shorts because bias was still long, but just following price and waiting for stuff to happen.
Tomorrow I'll go back to GU and see how my session plays out with this new knowledge
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