For you RVM watchers there was a very nice long setup on the 5
and 15 min via no long legged doji candles that provided an easy
long trade. On the 15 min an easy 6 point trade on
ES.
I missed the trade myself though due to helping my wife with
something at that time
depends - if the candlewick is too tall where the entry would
not be idea from risk/reward, I will place an order somewhere in
the middle of it sometimes, I don't bother using the top of the
wick if it's too high, only if it's short. And that's why you
want to look at other time frames, you will generally find a better
looking candle on a different time frame, that's why I cover the
gamut with the 3, 5, 10, 15, 20, 30, 60 etc.
there's a lot more about the candlesticks that I could mention
here, tricks I've learned, ones that I look for, ones I avoid, but
I don't have time or the examples at the moment to show.
If you have the monitor real estate space, just have the charts
in front of you laid out so you can easily see them setup, here's
two of my monitors showing ES 3, 5, 10, 15, 20, 30, 60, 120 daily
charts, all I have to do is glance. The blog is right under
them
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RVM trades on ES
Posted by matt on 19th of Jan 2016 at 10:29 am
For you RVM watchers there was a very nice long setup on the 5 and 15 min via no long legged doji candles that provided an easy long trade. On the 15 min an easy 6 point trade on ES.
I missed the trade myself though due to helping my wife with something at that time
Hi matt, the trigger is
Posted by cuqui69 on 19th of Jan 2016 at 10:33 am
Hi matt, the trigger is the top of the doji candle however since is a long tail doji candle , where should we put our stop?
depends - if the candlewick
Posted by matt on 19th of Jan 2016 at 10:42 am
depends - if the candlewick is too tall where the entry would not be idea from risk/reward, I will place an order somewhere in the middle of it sometimes, I don't bother using the top of the wick if it's too high, only if it's short. And that's why you want to look at other time frames, you will generally find a better looking candle on a different time frame, that's why I cover the gamut with the 3, 5, 10, 15, 20, 30, 60 etc.
there's a lot more about the candlesticks that I could mention here, tricks I've learned, ones that I look for, ones I avoid, but I don't have time or the examples at the moment to show.
If you have the monitor
Posted by matt on 19th of Jan 2016 at 10:32 am
If you have the monitor real estate space, just have the charts in front of you laid out so you can easily see them setup, here's two of my monitors showing ES 3, 5, 10, 15, 20, 30, 60, 120 daily charts, all I have to do is glance. The blog is right under them