i think we are going to drift lower during the overnight session and using the job number as a catalyst to push through this area. what you think?
IchibomB's stuff - Page 20
I don't know. I have a certain setup where I fade at the very end of the close if my requirements are met.
They weren't so I didn't trade that.
price is inside daily rotation so it's very possible it drifts back to the POC.
hope it doesn't go much lower than that. I have 15 as my bottom rotation which would put me
-12 handles...little more risk than I like. Holding for now though.
POC support on mulitiple time frames between 17-20
I try to trade the trend as much as possible but I never hit the high or low so I don't use a stop. In my experience price will come back to you if given enough time. I got burned a short time ago because I didn't realize that expiration was near. A rookie mistake.
I go all in, scale out.
I typically have 2 targets and then I let the last lot ride to maximize profits.
simple trendline breaks
exhaustive moves e.g. you are long on a breakout and price has moved 2 or more standard deviations
away from the POC, volume is not coming in at the new level/or a new poc is being established...i'll take one off.
If it's a range trade, I will be fading price and the first target will be the poc, second will be the bottom
of the range (my custom vah or val).
Nice ZN short if you held, Bob!
I'm just writing some thoughts out for myself...
One of the keys to trading is identifying a pattern that occurs
over and over again. A pattern that goes the same way
a high percentage of the time. It's taken me 6000 hours
of trading to find just 1 of these. It's not a holy grail but
when you find something that you can count on,
the next step is to increase your size.
Don't increase your size until you find a pattern you can count on.
Otherwise you are putting yourself at unnecessary risk, wasting
precious capital that you will need for the long haul. It's a ride.
A long hard ride.