Posted by frtaylor on 12th of Jul 2012 at 11:14 am
This is a great point, Steve, about different scenarios.
Helping keep me grounded. With the 60 min chart yesterday, I
was focused on either bouncing off the trend line and then a move
higher (I thought it
did, as of the close yesterday - I went long but was
stopped out this morning), or slicing through and heading down
(which it did today).
The difficulty now is putting on a short. I'm using your
approach - a retest of the uptrend line and then a third bar lower.
I'm using a 15 min chart; is that what you use?
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
This is a great point,
DOW Daily
Posted by frtaylor on 12th of Jul 2012 at 11:14 am
This is a great point, Steve, about different scenarios. Helping keep me grounded. With the 60 min chart yesterday, I was focused on either bouncing off the trend line and then a move higher (I thought it did, as of the close yesterday - I went long but was stopped out this morning), or slicing through and heading down (which it did today).
The difficulty now is putting on a short. I'm using your approach - a retest of the uptrend line and then a third bar lower. I'm using a 15 min chart; is that what you use?