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adaseb wrote:newscalper wrote:ES - could you comment on this please. It might help some who are struggling with this. I have to admit that sometimes I do too with price not coming to my area or seeing PA on the small TF that agrees with my analysis on the larger but then still blows through. Imagine this is a larger timeframe chart, I know this is 1m so it's crazy but you get the picture, there are very often multiple lines/areas within a momo breakout where price may come back to and then continue:
There's even more lines than I've added if close under/close over is included.
I know why the yellow line - because that's where price turned. But the thing is, depending how far left you look ahead of time, you can draw a line practically anywhere. Also if we a re supply/demand traders (like Seiden) the breakout on the lower timeframe chart would have been at one of the lower three lines, we would never have seen an entry - this is what happens to me a LOT).
the yellow line is resistance and it might be support in that area. Where you drew those lines is fine also.
The point is that you have no idea where price dip too, and thats why you draw a range of lines and watch it on the lower TF and enter when it looks like its supported in those areas.
maybe es/pip can comment more.
on my phone so cant see the chart all that well, but i remember looking at it this morning i just didnt have time to respond to it
i will look at it again later tonight or over the weekend
but it is basically what adaseb said
i dont know where it will stop i just watch the smaller charts into the areas and then make a decision
if i am watching m5 i am looking at m1 to get in
if i am watching m15 h1 or whatever i am looking at m5 and m1 still
other wise it would just be a guess if it holds or not
sometimes i bid offer the area if it is on consecutive bars ---- most times i dont do that though
i just watch how it comes in and then make a decision whether or not to get in
maybe it has some feel to it as well i dont know
aftr you watch how things move for long enough you just tend to get a feel for if it is going to hold or not based on how the PA come in
Bend over and assume the position for another 4 years of hope and change.