Hey Sive,
Thanks a lot for your analysis.
I got a question for you.
I've seen you write numerous of times that you are NOT a breakout trader. This means that you probably knew to avoid the past couple of weeks consolidation which was very hard to trade. And, as DiNapoli says, "Loss of opportunity is preferred to loss of capital".
My question is, how are you able to determine WHEN price action is/will be consolidating like it has been? Also, when you say you are NOT a breakout trader, does this mean you don't JUST rely on the context, but ALSO wait for a true breakout for more confidence?
Context changed daily the past couple of weeks. Determining context is one thing but how are you able to determine it will be in consolidation? What I mean by that is that I am able to look at my timeframes and determine what kind of patterns are available, what trend is, where K-levels are to enter in direction of the context but how will I know it will be consolidating?
Is the only way to avoid trading in consolidation to wait for a true breakout everytime?
There were many, many stop-grabbers and butterflies the past couple of weeks which gave us context but in the end, due to consolidation, it was very hard to trade.
Thanks a lot, Sive! I appreciate your daily analysis and I look forward to your reply.
Thanks a lot for your analysis.
I got a question for you.
I've seen you write numerous of times that you are NOT a breakout trader. This means that you probably knew to avoid the past couple of weeks consolidation which was very hard to trade. And, as DiNapoli says, "Loss of opportunity is preferred to loss of capital".
My question is, how are you able to determine WHEN price action is/will be consolidating like it has been? Also, when you say you are NOT a breakout trader, does this mean you don't JUST rely on the context, but ALSO wait for a true breakout for more confidence?
Context changed daily the past couple of weeks. Determining context is one thing but how are you able to determine it will be in consolidation? What I mean by that is that I am able to look at my timeframes and determine what kind of patterns are available, what trend is, where K-levels are to enter in direction of the context but how will I know it will be consolidating?
Is the only way to avoid trading in consolidation to wait for a true breakout everytime?
There were many, many stop-grabbers and butterflies the past couple of weeks which gave us context but in the end, due to consolidation, it was very hard to trade.
Thanks a lot, Sive! I appreciate your daily analysis and I look forward to your reply.