Hey Eric,
I had a question about first entries that are with trend that move for 4 ticks or more. Does this make the second entry have a higher chance to succeed? I've seen you mention watching for first entries that move for a point throughout the lectures and only started spotting it during my recent reviews of 2019 replays.
What about a first entry that only moves a tick, does that influence the second entry?
Any additional insight would be greatly appreciated!
1st Entries
Re: 1st Entries
Nice observations.
The point of counting and measuring is to see whether there are imbalances, how much of an imbalance exists, and the intensity of those (or not).
If the movement of a retracement is strong, you are looking to see when this energy will dissipate. Why, because it is easier to move upwards when one isn't fighting gravity. Just ask any astronaut. Channels and trendlines help to measure this intensity through width and angle.
If you extrapolate the above across a few charts, I think you'll see the answer to your question
.
Hopefully helpful and good trades to you!
The point of counting and measuring is to see whether there are imbalances, how much of an imbalance exists, and the intensity of those (or not).
If the movement of a retracement is strong, you are looking to see when this energy will dissipate. Why, because it is easier to move upwards when one isn't fighting gravity. Just ask any astronaut. Channels and trendlines help to measure this intensity through width and angle.
If you extrapolate the above across a few charts, I think you'll see the answer to your question
.Hopefully helpful and good trades to you!
Re: 1st Entries
Thanks for the feedback Eric.
The gravity analogy is nice, reminds me of the comment from the lectures about everything needs to take a breather/rest.
The gravity analogy is nice, reminds me of the comment from the lectures about everything needs to take a breather/rest.