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Did you buy anywhere between bar 1 and 19? Where did you buy? Where did you put your stop, how did you manage and where did you exit?
As a stop order trader, on days like these I find cases for buying and also cases for standing aside. If bought, I find managing such trades a nightmare.
For example, case for buying:
- Bars 1, 2 bullish, both closing near their highs, possible buy the close.
- Open gap above 2 high, body gap above 1 high.
Against buying:
- Bar 1 is a doji and bar 2 had a conspicuous tail above, telling me straightaway TR environment ahead.
- Far above the MA, on the day after a buy climax.
- Not a strong leg, rather a leg in a TR. Constant pauses: bear bar 3, 6. Bar 7 goes below bar 6 low. Big doji bar 8, and then scary pullbacks at 12 and 20-21. Yes, stop order bears didn't make money until bar 21, but do you really want to hold long through all this?
Thanks.
Hi PB,
I did. There were three entries that i took, the HL and short position were negatives as far as profit, but H2 recovered it all and some
[EDIT] Reversed to short because of the LH and follow through
on the day after a buy climax
Isn't it the most common outcome after a buy climax day to get FT buying in the first hour(so 12 odd bars) and then a TR for 1-2 hours(12-24 bars)?
but do you really want to hold long through all this?
No, you enter above the ii and take your profits when the parabolic W appears. You look for longs once again after the market has seen 2 legs sideways so probably above 26 again.
