Hey Jamie. Yes that base within the base actually threw me off a bit as I did not know if I should enter there or not :-( Would you have entered when the 13:40 bar broke the high of that mini-base (at 179.42)? Thank you!
I took a partial on the black line of my chart, which is the high of the previous day (a natural resistance area). My charting software calculates that automatically and paints the line on my charts. I use eSignal now.
Hey Jim. Yes, it feels good to have a winner on POT after last Friday :-) I am still figuring out the bear/bull traps, but I am just starting to learn that having a narrow range consolidation with low volume before the BO is key and tends to diminish the chances of traps. Now I need to continue practicing. Are you taking a little break from trading now? Your posts and insights are missed. Ohhh... I also remember you telling me about your email address. Something that I have done for my trading is set up an account with gmail. Not only is free, but also includes free forwarding to another email (which is something yahoo used to charge for). So in my case I do have a job, and since I have my work email account always open, I have the trading forwarded to my work. That is very convenient and useful for me, so I do not have to log on to the web email page every time I want to check my mail. Cheers,
Good observations on the range and volume contraction leading up to a high quality BO. I caught an afternoon BO in FCX that had those features. It was an explosive type move.
Thanks for info on gmail. I currently have two email addresses associated with work and do not want to attempt to manage a third.
Yes, I have reduced my trading significantly. Between work and preparing a child for college, I currently do not have the time to post. Hopefully I will have more time in a month or so.
10 comments:
Nice job Anarco!
I see a base within a base here. That is, just prior to the trigger bar, there was a narrow range price consolidation on low volume.
where did you take your partial , i.e. how did you calculate that black line and what does it represent?
Thanks
J
Hey Jamie.
Yes that base within the base actually threw me off a bit as I did not know if I should enter there or not :-(
Would you have entered when the 13:40 bar broke the high of that mini-base (at 179.42)?
Thank you!
Hi J~
I took a partial on the black line of my chart, which is the high of the previous day (a natural resistance area). My charting software calculates that automatically and paints the line on my charts. I use eSignal now.
Cheers,
Anarco,
Sometimes I do enter on break of mini base. That way if the bigger base fails, I have plenty of time to exit before a loss.
Thank you Jamie!
Hey Anarco,
Good job. You made up for the bear trap (in POT) from last Friday.
Hey Jim.
Yes, it feels good to have a winner on POT after last Friday :-)
I am still figuring out the bear/bull traps, but I am just starting to learn that having a narrow range consolidation with low volume before the BO is key and tends to diminish the chances of traps. Now I need to continue practicing.
Are you taking a little break from trading now? Your posts and insights are missed.
Ohhh... I also remember you telling me about your email address. Something that I have done for my trading is set up an account with gmail. Not only is free, but also includes free forwarding to another email (which is something yahoo used to charge for). So in my case I do have a job, and since I have my work email account always open, I have the trading forwarded to my work. That is very convenient and useful for me, so I do not have to log on to the web email page every time I want to check my mail.
Cheers,
Anarco,
Good observations on the range and volume contraction leading up to a high quality BO. I caught an afternoon BO in FCX that had those features. It was an explosive type move.
Thanks for info on gmail. I currently have two email addresses associated with work and do not want to attempt to manage a third.
Yes, I have reduced my trading significantly. Between work and preparing a child for college, I currently do not have the time to post. Hopefully I will have more time in a month or so.
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