MyPivots
Sign In
TO
TonyC
Rep: 99
Posts: 471
GLOBEX swinging wide.

MR
mreiserer
Rep: 110
Posts: 2,220
884.25/50 if anyone wants this
MR
mreiserer
Rep: 110
Posts: 2,220
well, look at that
MR
mreiserer
Rep: 110
Posts: 2,220
I hate them when I'm short :)
MR
mreiserer
Rep: 110
Posts: 2,220
this is it right here
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, but a regular drone usually hits things where we expect, as roofer has shown so many times, so we wouldn't likely be short when they hit.
MR
mreiserer
Rep: 110
Posts: 2,220
if this turns around here at the ABCD it will hit the upper // with an ABCD circa 889
JI
jimkane
Rep: 3,058
Posts: 33,089
So, are you still holding a partial short on this? The bulls are very weak on this push up. If they can't ramp off this 'retest' ABCD here, I think they are toast.
JI
jimkane
Rep: 3,058
Posts: 33,089
That program pop was a godsend to get back on that short side.
MR
mreiserer
Rep: 110
Posts: 2,220
no, I wish I had, but I had to respect context
JI
jimkane
Rep: 3,058
Posts: 33,089
Watch the .886 'retest' here.
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.