Ability to see Signals

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Trader Question
Posts: 709
Joined: Thu Oct 09, 2008 7:31 am

Ability to see Signals

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ES 4000T appears to be playing out D ET & M ET. Daily Dotted line looks strong (at the moment). While the weekly is over the E Top its trying for congestion down.

So I anticipate the 4000T to hold (yes). At 11.30 the two previous bars looked like 'yes' with resistance holding and the flow shifting. Of course until we pass through the DoT its not really 'confirmed'. The current bar is giving me trouble ....OK....its closed as I write this resistance held on close.

I'm more confident seeing 3 bars close in resistance (and have been pinging short). However the first one I miss timed and got slapped around a bit subsequent ones OK. (as an aside I guess pinging should strictly speaking be done on focus not LTP?). I am reviewing (and re-reviewing) *&( on Yes/no and lessons on flow. I'm slowly improving but even with the narrative in the lessons some of the yes's look like no's a bar before and vice versa.

And there you go the 4th bar (4000T) breaks resistance I would have thought making things a No. I still anticipate a turn here somewhere. Keep pinging I guess. Though we are putting new highs.

I always try and keep sight of the HTP context however eventually you need to drop down to the LTP and be proved right or wrong.

N.A.
pldot
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Posts: 779
Joined: Sun Apr 27, 2008 10:52 pm

Re: Ability to see Signals

Post by pldot »

==of course if it was completely clear, there would be no place for any of us since the opportunity would instantly disappear. Your skills in seeing the flow will develop over time. But.. guard against perfectionism.
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