but what the hell, I thought I would post it - pretty much a running commentary of the thoughts in my head - I change my mind a lot - I'm wondering if any of the more experienced traders have this sort of train of thought or am I simply adapting to what I see?
In the image - the 3 was at the high with the check mark -and then came back down - was looking for a play off of support following the big moment up push up
- support formed at 115. with wicks towards losses - in at 115. 20 - out at 60
Another big momentum bar just formed and closed - will look for a few things - will fall a bit and consolidate and resume its upward path - look for downward momentum to stall - there will.. be some wicks - hopefully a one will form - or price will plummet
If price falls by 30 -will buy it - Z line trade - in for one candle only - hugging the momentum candle. It fell buy at 115.59 - 20 pip sl - bought a lower red line - close - 74 - 15 pips
Price started to fall - seemed to find support at previous high - long wick high where the 3 was - candle closed town - but momentum was decreased compared to previous bear candle- continued falling though - zeroed out the break out candle - dont get too excited - im thinking that we will see another run at the high and will play off that second run (in retrospect this did not happen, as you will read below)
The bars right now coming off the 3 have some good range to them - so i dont think I'm seeing a real consolidation and a turn down yet - there was probably a good entry on a lower time frame, but i'm not looking at that - i'm also not seeing enough of a push against the 116 level to go for a long ride down - will look for some long bull bars that don't break the res line before i consider shorting
Starting to see some wicks at the 115.30 area short if price hits 115.20 - previous bull candle had no momentum - 5 period low. short hit @ 115. 20 - target is 114.55 - Sl is 115.30 - Running into some support @ 115.xx area
Candle closed in my favor - new low on next candle at 115
Next candle was a small bull candle - closed at 15.18 - +2 pips - would have closed if it hit - 10
trade going my way again - new 5 period low...........
Falling - a new 13 period low at 85 time to bail - 45 pips - getting bored
I will let simulator run - see if my target gets hit - but no - it wont count in my total...
Practice total - three trades - 40 - 15 - 35 pips - 90 total
Any comments on my thought process - would love to hear it. Am I flip flopping too much or waiting for the market to express itself? I'm not sure myself, unless I keep up the 100 pips in under 3 hours routine - despite me looking for a bigger push down - price did travel 200 pips in the time i played - 100 up and 100 down.......
