newark18 wrote:Sort of the same deal. Am I disregarding something (like the general trend being up)? MO stated that we should not trade against CC. But I am not sure what that means considering we are trying to predict reversals and we enter at extremes. That usually means we are trading against the CC, no?
The confusion comes from all of these traders who want to trade my methods on small charts.
If you have a 3day CC long and the single TF daily candles start pushing against the CC (wick doll) then you are trading off of daily+ lows in the direction of the CC, no?
Do not assume that, because a trade failed, you did something wrong.
Did you trade off of daily+ highs/lows?
Did price close over a line?
Did you start building a larger position with an average entry beyond S&R?
Ok, then you did everything right!
Sometimes it doesn't work and you lose 4.5%
Sometimes it works and you make 20, 45, 70, or even 135%+.
-You have core methods and you also have a brain.
-You know that price moves in waves and that the corrections are the smaller waves.
-Are you trading the correction (trend later?) or the trend (trend now).
Do What Matters is not about randomly picking a high TF chart to look at.
You should sit down with the DWMY (I print them out) and then mark out everything significant ahead of time.
Price is moving toward something significant, here is what it looks like on the smaller chart, here is the reaction in this area:
IF ----> THEN
IF ----> THEN
IF ----> THEN
It is all about making comparisons.