I wonder if I am interpreting the lectures correctly?
Posted: Thu Jan 12, 2023 8:46 am
The lectures changing the way how I analyse the charts.
I like the proces, but also sometimes unsure if I am to carefull or over analyse the chart and see to many obstacles to skip the trade. I wonder if I am interpreting the lectures correctly?
Yesterday 11 Jan 2023 I saw this F2ES in a Trading Range and I skipped this for several reasons.
• We have Yellow Channel a Break and we found support after the retest of the pullback. We look out for the Retest of the Yellow Channel.
• The Prices are above and under the EMA so sign for a Trading Range and there are some Key Levels in play (numbers 1, 2, 3 & 4).
• After seeing the big bull bar (arrow 1) hitting the Kel Level 4 (can be magnetic move) and has no follow through.
• Prices move back to Key Level 2 and HL formed with 1 tick wick on top under EMA so I skip.
• A bigger Bull bar (arrow 2) and stopped 1 tick under Key Level 4 and no follow through again.
• 3 inside bars are followed and the 3rd is a Failed Second Entry Short with no room to Key Level 4.
• At this point Key Level is holding strong for multiple times and entry is middle of possible Trading Range.
So I skipped.
Is this to much thinking?
Thanks in Advance
I like the proces, but also sometimes unsure if I am to carefull or over analyse the chart and see to many obstacles to skip the trade. I wonder if I am interpreting the lectures correctly?
Yesterday 11 Jan 2023 I saw this F2ES in a Trading Range and I skipped this for several reasons.
• We have Yellow Channel a Break and we found support after the retest of the pullback. We look out for the Retest of the Yellow Channel.
• The Prices are above and under the EMA so sign for a Trading Range and there are some Key Levels in play (numbers 1, 2, 3 & 4).
• After seeing the big bull bar (arrow 1) hitting the Kel Level 4 (can be magnetic move) and has no follow through.
• Prices move back to Key Level 2 and HL formed with 1 tick wick on top under EMA so I skip.
• A bigger Bull bar (arrow 2) and stopped 1 tick under Key Level 4 and no follow through again.
• 3 inside bars are followed and the 3rd is a Failed Second Entry Short with no room to Key Level 4.
• At this point Key Level is holding strong for multiple times and entry is middle of possible Trading Range.
So I skipped.
Is this to much thinking?
Thanks in Advance