PA, S/R, ZL, EXTREMES & MOMO

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es/pip
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Postby es/pip » Mon Feb 14, 2011 1:36 pm

karol wrote:Got my ass spanked this time.

First I entered short, as situation looked bearish (especially on 15min), but candle breaking up (one before my long entry) got me change position to long. Not sure why I haven't noticed that the resistance is obviously holding - now seems so clear when I look at it...

Result: -28

Image


yeah that was right back into res.

both those two momo down m15 bars provided good shorts

its easy to look too much inside and lose track of what is really happening on the larger time frames

the m5 can change your mind if you focus on it too much------- just trading the m5 i can see being long there( not looking at anything else), but when they pushed that high and closed below it--- have to at least pull stop in if not just get out all together

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Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Mon Feb 14, 2011 3:42 pm

traded that 2nd m15 momo short in the pic above

the orange lines are r turns s on the daily ( 1st pic)

on the m5 you can see the first move out of the daily support tested the m5 res.--- so it cleared out those sellers for the next move up


then if it holds it is just a matter of trading PA back into the next res. area ( upper orange line) for + 42
Image

Image



GU

h1 extreme doesnt hold----- trade PA back to res.--- which in this case was the left shoulder

took two losers on the GU trying to get in that trade -6 and -5 then + 45

then trade short off that shoulder based on the m5 entry( momo) back to support ( the break out or ZL ) for +25

done for the day

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Bend over and assume the position for another 4 years of hope and change.

karol
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Postby karol » Mon Feb 14, 2011 3:57 pm

This is how I traded it es (my target was also around 97):


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Need to pay more attention to higher TF next time and should be better..

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es/pip
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Postby es/pip » Mon Feb 14, 2011 4:22 pm

risking 10 to make 50

may have issues at the grey line

have to see

in off m5 shoulder


-----

stop in under 97 now

-3 or + 50







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Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Mon Feb 14, 2011 4:24 pm

really should have been in at a better price

+ that was an h1 increase in momo down, but it closed above extreme


not really a superb setup, but good RR
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Postby es/pip » Mon Feb 14, 2011 5:42 pm

out with +22

m5 dbl top


also took 18 on the EU


done now


back tomorrow

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Bend over and assume the position for another 4 years of hope and change.

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scratty
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Postby scratty » Mon Feb 14, 2011 6:42 pm

never believe es when he is saing that he is done for the day :-D
Lose professionally!

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Postby scratty » Mon Feb 14, 2011 6:44 pm

very nice to see your charts again. It is realy helpfull for me. What tool do you use to draw these lines with price labels?
Lose professionally!

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es/pip
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Postby es/pip » Mon Feb 14, 2011 6:52 pm

hahahah

i am really done for the day this time

i use the fib tool

remove all the lines except for just one of them i use 0

in description put %$
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Postby poltergeist » Mon Feb 14, 2011 7:51 pm

Thanks es/pip for your trades here... I look at them everyday :)

I have done something like this today:

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first trade finished with loss, and when I noticed price was going down I entered again at previous SL level. But I am not sure if I correctly marked S&R levels...

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