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bobs qwest to attain consistency
Started:March 10th, 2011 (11:09 AM) by bobarian Views / Replies:33,658 / 666
Last Reply:19 Hours Ago (05:10 PM) Attachments:741

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bobs qwest to attain consistency

Old February 6th, 2012, 05:27 PM   #301 (permalink)
Market Wizard
whitestone, new york
 
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VinceVirgil View Post
Nicely done on the video. i see what you are looking at, and it I get what you are seeing. i took that trade on the candle at 9:10 as an early entry. The doji candle at the bottom I saw as a spike down, and the momentum on the bar is really, to me , a bull bar in reverse. I watched it real time come off the low, and unpaint the bear bar. Think about it. If the bar closed at the bottom, it would have been a long bull bar, which flew throough the close of the previous bear climax(which confirms an overshoot) so I took the trade fairly close to the close of that doji. Held on for the bear doji, and on the trade when it broke the EMA with authority.

I find the long bull tails on the bear bars are a little tricky. The overlap of the bars is a concern, because it tells me bulls and bears are evenly matched, even when it is on a slow trend down. The bull bar at 10:40 was a clue. I looked at that as a failure of the bears to take the market lower. Your oops looked like a second failure for the bears to take it lower, and for me, I would be thinking reversal. After 2 failures, I looked for it to do the opposite. I was also aware of the support from yesterday. Wasnt the best setup long for me, because of the overlapping bars prior. But, I would definately think short if that doji was a bear that closed lower and broke that resistance from yesterday. But those long bull tails...

See that...same chart, 2 different opinions...

Why didnt you take the trade at 9:10?

Regardless, nice work on this.

thanks Vance.the trade at 9:10 i just missed it.I saw it afterwards, as i am still getting used to the 5 min.I agree, tho, it is obvious.The entry for me would be a tick above the doji hi.I am a little confused on some of als descriptions of good reversal candles.This week, im hoping some clarity will creep in, as the i min has been difficult to look at.When i had the 4 range,and the 1 min, the confusion caused hesitation.Now ,the 1min and the 5 min is kinda doing the same thing, and i find myself not trusting the 1 min like i did.Is it me, or did the cl change in the last month?Regardless, last week, and today, the 1 min has just been confusing.Maybe i need new glasses!lol............Also, that trade at 11:10 was a scalp attempt...I thought we would douub bot, but we got a HL...which made sense..2 reasons..1st, strong reversal bar..2nd, strong support level


Last edited by bobarian; February 6th, 2012 at 05:58 PM.
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Old February 7th, 2012, 12:25 PM   #302 (permalink)
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2/7/2012
tuesday
5 trades
-13 ticks net.
today, the 5 min cash ch indicated that we would fill the gap.With that said, if im going to trade the grinding channels, i need to trade with the grind trend, which should be with the trend.I had 2 trades that i thought were decent, however, 4 out of 5 trades today were shorts...thats not good.Bar 12 and 14 were such big long candles, i should have stopped shorting...so, the 4th trade was a mistake.And watch for those ema crosses.The 4th trade bounced off the asc 21ma, even if i didnt take a long, a short wasnt smart,basically being a 2 leg pb.
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Old February 7th, 2012, 02:18 PM   #303 (permalink)
Market Wizard
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i did my review, of my review, and decided another video would be necessary.The traps that i am mentioning, will probably be a 10 tick target, and they happen every day.The ema crosses seem to work nicely off a trap...we will keep watching.Imight just stick with shorts below 21 ma, longs above, unless a valid reason for a ct .

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Old February 7th, 2012, 05:12 PM   #304 (permalink)
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bobarian View Post
2/7/2012
tuesday
5 trades
-13 ticks net.
today, the 5 min cash ch indicated that we would fill the gap.With that said, if im going to trade the grinding channels, i need to trade with the grind trend, which should be with the trend.I had 2 trades that i thought were decent, however, 4 out of 5 trades today were shorts...thats not good.Bar 12 and 14 were such big long candles, i should have stopped shorting...so, the 4th trade was a mistake.And watch for those ema crosses.The 4th trade bounced off the asc 21ma, even if i didnt take a long, a short wasnt smart,basically being a 2 leg pb.
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I liked your commentary.

" I thought that was a big candle, till I saw the one up here! "

Gotta love those 65 tick candles....but only when you are on the right side of them.

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Old February 7th, 2012, 05:32 PM   #305 (permalink)
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VinceVirgil View Post
I liked your commentary.

" I thought that was a big candle, till I saw the one up here! "

Gotta love those 65 tick candles....but only when you are on the right side of them.

Thanks Vance, today was just another learning day....counter trades gone silly.I feel the trades were there(as usual),but i see them in recap..so, if i keep plugging away, and reviewing the videos, over and over...maybe,i will see it in real time!!
*************

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Old February 7th, 2012, 06:02 PM   #306 (permalink)
Market Wizard
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upon further review of the 4th trade...The pb coiled off the asc 21 ma,if i would have observed the desc trendline of those tops, and traded with the trend, the entry was just above the desc trendline, or a tick above the prev freen candle(that coiled off the ma)I was thinking of that trendline, and they blew right through it.Either way, the counter trend trades today werent smart..Again...should we look for longs above ma/shorts below,Just to stay simple?

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Old February 7th, 2012, 06:30 PM   #307 (permalink)
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bobarian View Post
upon further review of the 4th trade...The pb coiled off the asc 21 ma,if i would have observed the desc trendline of those tops, and traded with the trend, the entry was just above the desc trendline, or a tick above the prev freen candle(that coiled off the ma)I was thinking of that trendline, and they blew right through it.Either way, the counter trend trades today werent smart..Again...should we look for longs above ma/shorts below,Just to stay simple?


That's the way I trade. Above MA long, below the MA short, that's it. SIMPLE!!! I gave away enough of my account by not keeping it simple.

Rick

"If you're going to panic during a trade............. panic early."
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Old February 7th, 2012, 07:33 PM   #308 (permalink)
Market Wizard
Toronto, Canada
 
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bobarian View Post
upon further review of the 4th trade...The pb coiled off the asc 21 ma,if i would have observed the desc trendline of those tops, and traded with the trend, the entry was just above the desc trendline, or a tick above the prev freen candle(that coiled off the ma)I was thinking of that trendline, and they blew right through it.Either way, the counter trend trades today werent smart..Again...should we look for longs above ma/shorts below,Just to stay simple?

I have seen many trade that way above MA above long, below short. At least, they are aware of it in relation to the PA, and they dont take it unless there is a compelling reason(s).

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Old February 7th, 2012, 08:14 PM   #309 (permalink)
Market Wizard
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VinceVirgil View Post
I have seen many trade that way above MA above long, below short. At least, they are aware of it in relation to the PA, and they dont take it unless there is a compelling reason(s).

Its become apparent, that, at times , im seeing the leaves, and less of the forest.I have no desire to be a countertrend treader, as it took alot of effort to kick that habit.If there is a compelling reason, thats ok.I think , in its basic form, looking at the ma in this fashion will save me 1 or 2 mistakes a day.Also, in the focus that ive had lately, the ma is almost invisible to me, because when i was still trading the 1 min, i started disregarding the mas(almost alltogether at times.So, i have a feeling this will help.The ma crossovers are of interest ,also.

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Old February 7th, 2012, 08:54 PM   #310 (permalink)
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bobarian View Post
Its become apparent, that, at times , im seeing the leaves, and less of the forest.I have no desire to be a countertrend treader, as it took alot of effort to kick that habit.If there is a compelling reason, thats ok.I think , in its basic form, looking at the ma in this fashion will save me 1 or 2 mistakes a day.Also, in the focus that ive had lately, the ma is almost invisible to me, because when i was still trading the 1 min, i started disregarding the mas(almost alltogether at times.So, i have a feeling this will help.The ma crossovers are of interest ,also.

Hello @bobarian,

Just curious....................I've noticed you use a 5min chart for your time frame. Have you ever tried a tick chart? Say a 500t or 1000t chart on the CL. I found tick charts help me define the price action. The candles seem easier to follow with less strain on the eyes.

Just my 2 cents worth,

Rick

"If you're going to panic during a trade............. panic early."
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