Hello all, first published idea, here.
TL;DR This is my intuitive chart and what I would enter a more extended charting session looking at and developing. I did not use fib etc--Just the current trading range and visual/intuitive-quick steps on a bearish attempt down.
Been out of the game for a minute. Coming back, however, this chart screams indecision. I'm no OG, but from what I do know about algos and probability, this is a moment when the human hand comes back into play, considerably. Now, first off, I commend all those that will publish their Plan A as their "idea," but if you've been trading this instrument and the indices, in general, this year, then you know that these moments are 50/50; or, if you know some more, trade that.
Having a Plan A is crucial to positioning and awareness in the market environment. Indelible to success, a contingency plan kicks in when things do not go as planned (in Plan A). Plan B, Plan C, et al. are crucial assets and will save one's arse when one's trades turn sour. That being said, this chart obviously skews to the downside. What happens above, I do not know. Drawing with crayons is fun, though.
I'm neutral because COVID+J-Pow+Greed+Fear. Honestly, I like 50/50 moments as a budding price action trader because that's where the fun (read: decided volatility) happens.
Trading with HFT algos is lame. Let's go get that Green!!!
TL;DR This is my intuitive chart and what I would enter a more extended charting session looking at and developing. I did not use fib etc--Just the current trading range and visual/intuitive-quick steps on a bearish attempt down.
Been out of the game for a minute. Coming back, however, this chart screams indecision. I'm no OG, but from what I do know about algos and probability, this is a moment when the human hand comes back into play, considerably. Now, first off, I commend all those that will publish their Plan A as their "idea," but if you've been trading this instrument and the indices, in general, this year, then you know that these moments are 50/50; or, if you know some more, trade that.
Having a Plan A is crucial to positioning and awareness in the market environment. Indelible to success, a contingency plan kicks in when things do not go as planned (in Plan A). Plan B, Plan C, et al. are crucial assets and will save one's arse when one's trades turn sour. That being said, this chart obviously skews to the downside. What happens above, I do not know. Drawing with crayons is fun, though.
I'm neutral because COVID+J-Pow+Greed+Fear. Honestly, I like 50/50 moments as a budding price action trader because that's where the fun (read: decided volatility) happens.
Trading with HFT algos is lame. Let's go get that Green!!!
Grains of salt, my friends.