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Hey all,
I have some questions about the emini yesterday. Ive watched the analysis of Joseph, but still have some questions.
The ioi on bar 6 for one. I know ioi in TTRs should be ignored, so that might be a reason why Al didnt have it marked as an entry. However, at this point despite of the overlap I viewed the open as a bull flag. And you can take an ioi in a bull flag. Like for example bar 11 on thursday also was an ioi continuation pattern, or bull flag. And there was also alot of overlap there too.
Could the reason for not taking it, being that the open should be looked at as something unique, with slightly different PA rules than normal?
What I mean by that is, the open is more prone to TTR so be more careful when you see signs of this? And dont treat it as a flag as easily, as you would do later in the day?
Another entry question. Is about the bear OB bar 15. Yes the bears are stronger at this point, but youre selling low in a TTR just above the EMA. So seems quite risky right?
Love to hear your thoughts!
Some realisation I have, the ioi appears to have formed in possible bull leg in a big trading range. Big up big down vs yesterday. We still havent broken above that major high, so that might be reason not to enter. Bar 11 ioi on Thursday was also at the top of bigger TR though....
Joseph pretty much answered your first question. It was a gap up open, but that gap was a weak bull channel if you look at how it got to that point on the overnight session. Perhaps if that gap open was the result of a strong spike, that would be a bull flag, but that wasn't the case here, so better to assume the TTR rules.
The OB 15 is not one that I would take personally. I'd wait for the breakout.
Thanks bud. I know Joseph looked at the Globex indeed, but I remember a vid from Al saying you don't need to, cause all patterns are clear enough on RTH. So I downplayed the importance of that reasoning from Joseph a bit..
If you did happen to take that trade as a bull flag, you had a lot of opportunity to get out with a small loss or breakeven after it was clear that the trade wasn't going higher like expected. If I took that trade and saw the bear bar (bar 8) right after entry, I would have exited break even on bar 9. And by the looks of it, a lot of traders did that with that tail on the top of bar 9.
Where to find Joseph's analysis?Hey all,
I have some questions about the emini yesterday. Ive watched the analysis of Joseph, but still have some questions.
The ioi on bar 6 for one. I know ioi in TTRs should be ignored, so that might be a reason why Al didnt have it marked as an entry. However, at this point despite of the overlap I viewed the open as a bull flag. And you can take an ioi in a bull flag. Like for example bar 11 on thursday also was an ioi continuation pattern, or bull flag. And there was also alot of overlap there too.
Could the reason for not taking it, being that the open should be looked at as something unique, with slightly different PA rules than normal?
What I mean by that is, the open is more prone to TTR so be more careful when you see signs of this? And dont treat it as a flag as easily, as you would do later in the day?
Another entry question. Is about the bear OB bar 15. Yes the bears are stronger at this point, but youre selling low in a TTR just above the EMA. So seems quite risky right?
Love to hear your thoughts!
In the daily blog of yesterday
