I put some back on after trading aggressively today. I
sold most of my hedges as the gap was so large (and this is not a
wave 3 decline) on that massive move down so wanted to
redeploy some after the nice bounce. The market structure is
a mess so just making sure I lock in some gains when the market
obliges - I still have some longs that are performing so some
hedging is appropriate for me. Trade your plan
Please rephrase your question as it's extremely confusing to me
. See 30 minute channel and related comments. Have a plan in
place that corresponds to YOUR OBJECTIVES
Hi Steve - what I meant is that you shared you didn’t hold your
hedges as this was NOT a wave 3 acc to the charts - is there any
other way to also determine whether a gap down / gap up will be a
trend day or a gap and crap - for those of us who are not EW
experts ….
Replying to your question- Most all breakaway gaps will
transpire in W3s after a lower high or higher low is formed.
Currently price remains in an uptrend channel.
Not really but a simple premise to consider for 3rd waves are to
watch for a the initial lower high or higher low to form - many
come into trading and think magically they are going to make a
bunch of money without having any experience and a proven approach
and unfortunately it takes years to learn and establish (me
included) . What you should be spending time on is developing
an approach that suits you vs asking others about where price is
going day to day which is hard to predict consistently. We
will do our best to assist by providing some tools to incorporate
into developing an approach. Lastly, keep reviewing
newsletters for such assistance.
This is really helpful context for me Steve. I didn't line up
the waves with what I was trading, though I will be considering it
the next time for when something like that happens. I did
reposition on the dip and did fine as the day progressed, though
certainly didn't sell the majority as I thought maybe we would have
a gap and go type day to the downside and particularly thought my
one instrument would as it is so extended.
When the low held, I still could have sold more even if the
price was a bit higher as I trailed. Shows how powerful being
convinced of an outcome can be. Really tough to do in real time. I
am set up really well risk/reward wise for the coming week again
with my trading. Can't complain really as I had an ok day and
learned something today. I learn a lot being here. Thank you and
the community.
Shout out to Arun for helping me with a chart while I was on the
move in the airport. Really glad to be here supporting my friend
and his family during this time.
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I put some back on
Chance to redeploy hedges?
Posted by steve on 5th of Aug 2022 at 04:12 pm
I put some back on after trading aggressively today. I sold most of my hedges as the gap was so large (and this is not a wave 3 decline) on that massive move down so wanted to redeploy some after the nice bounce. The market structure is a mess so just making sure I lock in some gains when the market obliges - I still have some longs that are performing so some hedging is appropriate for me. Trade your plan
Hi Steve - can you
Posted by anjali25 on 7th of Aug 2022 at 01:06 pm
Hi Steve - can you elaborate on this - how do you know which gap down will trend vs which will fill - any and all insights valuable
Please rephrase your question as
Posted by steve on 7th of Aug 2022 at 02:17 pm
Please rephrase your question as it's extremely confusing to me . See 30 minute channel and related comments. Have a plan in place that corresponds to YOUR OBJECTIVES
Hi Steve - what I
Posted by anjali25 on 7th of Aug 2022 at 08:10 pm
Hi Steve - what I meant is that you shared you didn’t hold your hedges as this was NOT a wave 3 acc to the charts - is there any other way to also determine whether a gap down / gap up will be a trend day or a gap and crap - for those of us who are not EW experts ….
Replying to your question- Most
Posted by steve on 8th of Aug 2022 at 08:05 am
Replying to your question- Most all breakaway gaps will transpire in W3s after a lower high or higher low is formed. Currently price remains in an uptrend channel.
Not really but a simple
Posted by steve on 7th of Aug 2022 at 09:31 pm
Not really but a simple premise to consider for 3rd waves are to watch for a the initial lower high or higher low to form - many come into trading and think magically they are going to make a bunch of money without having any experience and a proven approach and unfortunately it takes years to learn and establish (me included) . What you should be spending time on is developing an approach that suits you vs asking others about where price is going day to day which is hard to predict consistently. We will do our best to assist by providing some tools to incorporate into developing an approach. Lastly, keep reviewing newsletters for such assistance.
This is really helpful context
Posted by fundamentalvalues on 6th of Aug 2022 at 07:30 am
This is really helpful context for me Steve. I didn't line up the waves with what I was trading, though I will be considering it the next time for when something like that happens. I did reposition on the dip and did fine as the day progressed, though certainly didn't sell the majority as I thought maybe we would have a gap and go type day to the downside and particularly thought my one instrument would as it is so extended.
When the low held, I still could have sold more even if the price was a bit higher as I trailed. Shows how powerful being convinced of an outcome can be. Really tough to do in real time. I am set up really well risk/reward wise for the coming week again with my trading. Can't complain really as I had an ok day and learned something today. I learn a lot being here. Thank you and the community.
Shout out to Arun for helping me with a chart while I was on the move in the airport. Really glad to be here supporting my friend and his family during this time.