Master one trick only

[avny]

Characteristics of a 2-Bar Reversal:
The characteristics aren’t as strict as other trade setups, that’s because as long as when the two bars are morphed together they form a pin bar it counts as a 2-bar trade setup. There are some things that you can look for that will make one trade setup better than another. Below you will see those things:
The bigger the two bars are the better, just like bigger the pin bar the better
For a bullish setup it is better if the 2nd bar is more bullish than the 1st candle is bearish. So that means that the 2nd candle closes above the 1st candles open price (Better explained below)
Short wicks on the side you want to the trade to go and long wicks on the side you don’t want it to go (Also explained better below)

 

[avny]

 

[avny]

 

[avny]

got this while surfing


Consider:

• Humans have an unfortunate tendency of to overemphasize our most recent experiences. We draw from what has just happened, rather than deduce based on what is occurring right now.

• Following that idea, the analyst community is typically too bullish at tops, too bearish at bottoms. They extrapolate from the most recent data to infinity or zero. Hence, they miss the inflection points.

• Sentiment is a justification of recent actions. Very often, equity buyers describe themselves as bullish after their purchase. The comments they make can are often an attempt to reassure themselves.

• Changing viewpoints is a gradual process. Flipping from bullish to bearish and vice versa is difficult. We remember what most recently rewarded us, and internalize that. After a period of economic expansion, we are slow to grasp the change for the worse. At the tail end of an ugly recession, we find it hard to imagine an imminent improvement.

• Investors develop the equivalent of Muscle memory. During a bull market, every dip that was bought made us money. When the cycle changes, we are slow to perceive it. Bulls become out of phase with what is taking place, buying on the way down in a bear market.

• The reverse takes place after a long Bear market. Selling rallies made us money, preserved capital during the downturn. When the sell off ends and a new bull cycle begins, the bears have a similar hard time getting back into sync with the market. Since it was so rewarding to sell into prior rallies, it becomes difficult to flip towards the positive perspective.

• Excuse making rationalizing the missed turn becomes endemic. We get conspiracy theories (the Fed is buying SPX minis!), complaints about the artifice of the market, Fed bashing, etc. They all have their roots in the missed turn. I even suspect some of the Goldman bashing (deserved tho it may be) is also partly rooted in this issue.

 

[avny]

 

[harisundar86]

Very True.. Hope things change in a positive way :thumb:

 

[avny]

Bof,buy set up in nf

bof,sell in tatamot

 

[avny]

Bof,buy set up in nf

bof,sell in tatamot

NF 1st tgt done,SL triggered at B/E,reversed the position

TATAMOT 1st target done,holding with SL now at B/E

 

[avny]

NF 1st tgt done,SL triggered at B/E,reversed the position

TATAMOT 1st target done,holding with SL now at B/E

NF 1st tgt done ,holding with B/E SL

out from TATAMOT at TSL

 

[Vertigo_1985]

gave short wipro, though i shorted it earlier...