GLOBEX swinging wide.
MR
mreiserer
Rep: 110
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One thing is for sure. They are reacting to news again. Globex just hit key area at 890, 1.27 DT and key line
MR
mreiserer
Rep: 110
Posts: 2,220
having a heck of a time today (not in a good way). Every setup is garbage, maybe because there is no real setup. all around the globex low
JI
jimkane
Rep: 3,058
Posts: 33,089
I have a ton of stuff in the 880ish area on the higher timeframe. We'll see.
JI
jimkane
Rep: 3,058
Posts: 33,089
I also have some stuff right here, so it may bounce, or that could be it. Have to see what it does.
JI
jimkane
Rep: 3,058
Posts: 33,089
Watch this 1.460 at previous swing high with an offset line and sliding // from some key sets, though. May be it, or may be a bounce and roll to the 880ish area. Just some scenarios.
JI
jimkane
Rep: 3,058
Posts: 33,089
The bulls do seem to lack that bold nerve they've had lately to ramrod every dip with reckless abandon...
MR
mreiserer
Rep: 110
Posts: 2,220
I understand what you're saying, T.
I guess my comment was referring to traded timeframe and management.
If one were to trade this as a DT at a key line and 447 the traded timeframe should be a 120min chart.
Based on that it produced three minor bars that, imo, are inconclusive either way.
I didn't take the trade because just a trigger off the PTA wasn't good enough for me. For a daytrade I wanted to see a nice Wave 2 type pullback to get in (which it ultimately still might produce on the traded timeframe). It didn't give me that so I stood aside.
I guess my point is that I have often mismanaged trades in the past because I got caught up on lower timeframes where everything is magnified. while I find it important to see what goes on there and it has helped me understand price action better I have also found it misleading at times.
Like you said, you have the experience to tell the difference on a lower timeframe.
For me it's a work in progress.
I guess my comment was referring to traded timeframe and management.
If one were to trade this as a DT at a key line and 447 the traded timeframe should be a 120min chart.
Based on that it produced three minor bars that, imo, are inconclusive either way.
I didn't take the trade because just a trigger off the PTA wasn't good enough for me. For a daytrade I wanted to see a nice Wave 2 type pullback to get in (which it ultimately still might produce on the traded timeframe). It didn't give me that so I stood aside.
I guess my point is that I have often mismanaged trades in the past because I got caught up on lower timeframes where everything is magnified. while I find it important to see what goes on there and it has helped me understand price action better I have also found it misleading at times.
Like you said, you have the experience to tell the difference on a lower timeframe.
For me it's a work in progress.