Hi,
A couple of weeks ago I started a thread about entries. It was a good thread but now I have expanded the horizon a bit more.
I want to create something here I’ve never noted, maybe there is an old thread that looks like this one, or maybe not, I don’t know but I’ll give it a try.
The idea behind it is this:
In small (or large) consolidations after impulse moves we have many signals, often they signal entry to the wrong direction, so I want to see how I can reason, in order to not get whipsawed as often as I do.
So, my idea is this.
I post a chart where I have deleted the price actino AFTER the consolidation (showing entry either long or short) and you will tell we if you would have gone LONG, SHORT or stayed OUT.
Also, you would tell where you put your SL, and WHERE you would have entered. I.e if you would have entered immediately after the candles close, maybe a limit order - I don’t know, tell me your style!
But please, try to not look at your own chart and see if the market went up or down, just give your honest opinion. Everyone of us makes mistakes and the mother of success is failure!
Also, you can give ideas on TP. Do you use measured moves, or maybe you have a smart idea of multiplying the last impulse move with a fibonacci ratio (****, gonna try this out, maybe this is the holy grail… it just hit me :p:D).
The first pictures are down low, they are A,B,C,D. I will continue with more.
Give us all of your ideas, this is in order to learn. As we all need to do!!
Genesis!
