Here comes the Wash & Rinse. I was posting that we will bounce at the Centerline. My timing was off for a couple days. But here it comes: The move today makes sense. First, we had news which where somehow not ultra bad. But the market flushed big, leaving a GAP in the intraday chart (See the screenshot and my tweet). They washed the stops to the downside, and...
This is how retailers get washed & rinsed. Expanding Pivots (or Swings in higher TF's), can be a killer for your trading account! If you got cleaned today, print this picture and put it on your Monitor! This is one of my most hated and loved patterns. First it leads to losses...sometimes a couple in a row (...yes, I know, very frustrating). But then, when I...
Visible on 5min chart... My Approach will B2: Open small LONG position NOW @5314 100x Leverage SL: $5300 Have 2 SHORT Limit Orders placed above Wash zone equal to height of wash cycle zone. 1_Medium size SHORT order in RED Scalp Zone (2%) 7-25x Leverage 2_ Larger SHORT Limit Order in Liquidity Zone (5-10%) 10x-33x Leverage Place STOP Loss in the...
So, it looks like they just washed everybody hiding the stop behind the round number .27 level. The actual movement looks similar violent like the one to the left and is a good Short opportunity for me. As we know, price is going to the centerline over 80% of time. And this is my target, but managing "on the flow". P!
Watch this - I've posted it many times. I learned this from my mentor Shane many years ago. Stalking the long if price action confirms. P!
After the large up move from A to B price has started to consolidate. Rather than find support at the lows at C, price has blown through those lows and the .382 retracement. Median line theory tells us that if price passes through one line of a median set, it will likely reach the other. Since there seems to be no end in sight to the down move, since we are...