Lost in translation... a discretionary traders' memoir

[Jalarupa]

I have been around for what seems like a long time... I have taken lessons from the greats on this forum, tasted success and failure...

Now it seems its my time to be baptized in this fire of accountability to my actions, profitable or not.

So I'm going to try and discuss some form of process driven approach that allows me to skew odds of success in my favor of a positive outcome... In other words, trying to trade when conditions are most conducive to a successful outcome...

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My thinking is we can breakdown here...

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If we can end up in and stay in the green area then I feel like we going lower... Big time...

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I can imagine that the best place to be long is here... I'll be looking for That position but on the downside... This constraint will keep me out of the trade until such a time as that criteria is met...

Let's see what happens...?

[LeMercenaire]

I have been around for what seems like a long time... I have taken lessons from the greats on this forum, tasted success and failure...

Now it seems its my time to be baptized in this fire of accountability to my actions, profitable or not.

So I'm going to try and discuss some form of process driven approach that allows me to skew odds of success in my favor of a positive outcome... In other words, trying to trade when conditions are most conducive to a successful outcome...

1.png

My thinking is we can breakdown here...

1.png

If we can end up in and stay in the green area then I feel like we going lower... Big time...

1.png

I can imagine that the best place to be long is here... I'll be looking for That position but on the downside... This constraint will keep me out of the trade until such a time as that criteria is met...

Let's see what happens...?

Good stuff! I look forward to following along.

[Jalarupa]

Longer time frame price / trend dynamics...

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IF we breach bottom trendline in upward channel we need to see a pullback to trend; touch and release...

Here is another way of looking at it...

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[Jalarupa]

Traded Short off an area which I feel 'works' targeting the Long Fat cat's and their stops...

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I'll look to add IF/WHEN we end up reaching my targets

[Jalarupa]

Longer time frame price / trend dynamics...

2.png

IF we breach bottom trendline in upward channel we need to see a pullback to trend; touch and release...

Here is another way of looking at it...

2.png

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[Jalarupa]

I have been around for what seems like a long time... I have taken lessons from the greats on this forum, tasted success and failure...

Now it seems its my time to be baptized in this fire of accountability to my actions, profitable or not.

So I'm going to try and discuss some form of process driven approach that allows me to skew odds of success in my favor of a positive outcome... In other words, trying to trade when conditions are most conducive to a successful outcome...

1.png

My thinking is we can breakdown here...

1.png

If we can end up in and stay in the green area then I feel like we going lower... Big time...

1.png

I can imagine that the best place to be long is here... I'll be looking for That position but on the downside... This constraint will keep me out of the trade until such a time as that criteria is met...

Let's see what happens...?

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Yellow horizontal lines were my initial targets for longs off cone lows (lower part of the range) - These subsequently became breakouts that failed their retest (zlines)

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None of the trend lines were changed (angle or otherwise from the initial post) - This goes to show that the bias was correct and this in all honesty was based off of the previous post's ascending wedge formation which is inherently bearish if the bottom trend is not respected or the top trend is not broken out of)