Hi Jim~ Yes the ambush was an intraday of the 12:15bar. I used the high of the 11:45am bar (+0.02) to get my entry, but I got hit and it reversed right away :-(
Yes, I see that. It is very subtle, but the downward momentum in the 11:30am bar was the fly in the ointment (IMO). After that relatively impulsive move into the 38% level, it needed a full test of the 50% level (not fully tested in the 12:00 bar) and some basing/range action before attempting another up move.
POT, I think Jamie would say the an exhaustion run, esp 6 green bars. Maybe that's a 5 min "let's only trade POT chart, and catch it at the open" for a living since it's so volatile.
Not sure I understand your point bl. I see a lot of Jamie's trades in which the first 6-8 bars are solid green and then a retreacement to the 50% line and the move continues in the original direction. See Jamie's trade on 6/19 for FUQI. Are you saying not to trade POT except at the open? Thanks,
You will get back into the swing of things any day now. I am normally a little rusty after vacation, too. It takes me a while to get back to where I was.
POT2-Anarco just reread for my understanding, Jamie@Ambush(abx 21May)= --Fib's at PDL/PDH, or last leg, retrace to .5-62fib, bot 5/15" hammer, close 1/2 at PDH, 1/2 .5fib--. That's my understanding. I don't understand pot as an ambush trade, also hit resistance, fib#, reversed. For my own understanding let me know. Prev leg Fib retracement, where? Thanks
The ambush setup is versatile and can be used intraday as well as on the longer timeframes to spot buy/sell points. But, in general it works best when the stock makes a decisive move in one direction and a decisive move back to the ambush zone 50-62%. So the POT trade made a decisive move up, but the move back into the ambush zone was a little choppy. The consolidation of offsetting bars can occur in the ambush/retracement zone, but too much chop on the way to the AZ, can throw things off. On my blog see POT May 27 as a good example of how Anarco wanted to trade this and CELG daily setup June 17 - notice the decisive moves up and down.
Looks like APAC was an ambush type: rally up, retraces to 62, marubozu 11:20 b/o 10" chart. 15" offsetting bars. Earlier 10"/15" hammers too. Tiny fighter type in a down day
14 comments:
Hey Anarco,
Tough breaks. I'm not immediately seeing the ambush trade in POT. Was it an 'intraday ambush' off of the 12th 15min bar?
Hi Jim~
Yes the ambush was an intraday of the 12:15bar. I used the high of the 11:45am bar (+0.02) to get my entry, but I got hit and it reversed right away :-(
Yes, I see that. It is very subtle, but the downward momentum in the 11:30am bar was the fly in the ointment (IMO). After that relatively impulsive move into the 38% level, it needed a full test of the 50% level (not fully tested in the 12:00 bar) and some basing/range action before attempting another up move.
Always appreciate your feedback Jim! Thank you.
POT, I think Jamie would say the an exhaustion run, esp 6 green bars. Maybe that's a 5 min "let's only trade POT chart, and catch it at the open" for a living since it's so volatile.
Not sure I understand your point bl. I see a lot of Jamie's trades in which the first 6-8 bars are solid green and then a retreacement to the 50% line and the move continues in the original direction. See Jamie's trade on 6/19 for FUQI.
Are you saying not to trade POT except at the open?
Thanks,
Anarco,
You will get back into the swing of things any day now. I am normally a little rusty after vacation, too. It takes me a while to get back to where I was.
I hope you had a better day today.
Tyler
Thank you Tyler! Yes, today was a better day :-)
Hope you had a good one!
Cheers,
POT-point taken...trade at will.
POT2-Anarco just reread for my understanding, Jamie@Ambush(abx 21May)= --Fib's at PDL/PDH, or last leg, retrace to .5-62fib, bot 5/15" hammer, close 1/2 at PDH, 1/2 .5fib--. That's my understanding. I don't understand pot as an ambush trade, also hit resistance, fib#, reversed. For my own understanding let me know. Prev leg Fib retracement, where? Thanks
BL and Anarco,
The ambush setup is versatile and can be used intraday as well as on the longer timeframes to spot buy/sell points. But, in general it works best when the stock makes a decisive move in one direction and a decisive move back to the ambush zone 50-62%. So the POT trade made a decisive move up, but the move back into the ambush zone was a little choppy. The consolidation of offsetting bars can occur in the ambush/retracement zone, but too much chop on the way to the AZ, can throw things off. On my blog see POT May 27 as a good example of how Anarco wanted to trade this and CELG daily setup June 17 - notice the decisive moves up and down.
Ok, so ambush zone is 5-62Fib retracement of a meaningful intra day move, inner day PDL-PDH, or longer term move...and orderly/decisive.
Looks like APAC was an ambush type: rally up, retraces to 62, marubozu 11:20 b/o 10" chart. 15" offsetting bars. Earlier 10"/15" hammers too. Tiny fighter type in a down day
Thanks Jamie for the explanation!
Regards,
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