And about your homework..
1. trade is flip on support which was created after opening bell
2. maybe double bottom, but I think it's a bit risky because of the double top on the low of previous day
3. reverse on 70% VA and EMA 4300
4. some part of your system I hope
5.,6.?? DMI is under 25 so it shows market in chop, don't it? (or maybe the trend is not strong enough so you can take trade on support..)
I'm really lookin forward to your explanation!!
Lets seee
1:Correct, and also the 30min and 10min was on your side.
And DMI was comfirming the move.
2:That was a valid buy, price retraced on low volume , so no heavy selling, it was slow selling from those who bought it lower. And still the stochastic was on our side, and this place was also the support level. And when price breaks out with that high volume it usualy does not come back and take our previouse resitance that now acts as support.
3:This one had nothing to do with the Value are, the reason for this short was this.
Price will in most cases bounce of the yellow EMA, as its a strong resitance. And even if 30min stoch is going up we can short it. But you also see that the 10min stoch was looking weak and flattening out, this was also a good indication.If both the stoch was still going strong , might have been more concerned. But as a rule, 30min stoch is going up, but 10min stoch looks weak or overbought, you can always short that level, and expect a bounce of it. Regardsless you get you first target pretty easly.
4:The trade was valid, u see that this same level was previouse support (previouse swing ) and u also see there is a 20ema there(from 3min cahrt) and that gives confluence of support. SO that was a good buy, and 30min was still on your side.
As long as 30min is on your side you can easly take these type of trade, as long as you buy or sell them at S/R levels.
5:This trade was risky , you are right, if you wanted to play it safe you wouyld not have taken this trade. As DMI is weak and. But the 30min is stillon your side, but usualy the 3 test of support dont really make the market go any higher, and you see that it was a weak bounce. So this is a risky trade.
6:This last trade was only based on the fact that price will always bounce of the yellow ema, as that is strong support or resistance. And the 30min was at that time also with me. But remeber the second test of a yellow lines usualy break, so you can use it only once, not twice.
I will explain more in the video.
With kind regards
bashir Naimy
