turnip15 replies to: Plan the Trade

I think it’s easy to over-complicate things. Looking at the 300T chart again, if we concentrate on just the obvious peaks and troughs (not every nook and cranny), it’s easy to keep an eye on what we had to the left.

From then on, it’s all about matching scales. The large Supply marked to the left of the chart below, is overall trend down, but the inbetween trend was Long. It had a huge area of ‘blue sky’ back up to that level, thus, we look for pullbacks to previous Demand zones on the way up. Once the level is reached, it’s time to go Short, or at least expect a large enough pyllback for safety (the gap close -red line, was closed perfectly for the drop).

Once trend has reversed, it’s time to label all of the prior Supplies and look for reactions to occur there on the way down. By choosing the more obvious ones, the risk is small, probability of a reaction (as minimum) is higher, but ideally, we should look for trend continuance (thus fresh lows if Shorting etc)…

Attached Image (click to enlarge)

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