I’m in my first full pay month in Sniper, it been like drinking from a fire hose with all that’s going on. I’m working to get funded with Leeloo. It’s been struggle mentally but I’m making progress this is my first real effort to get help. I’ve listed several screenshot links which represent winners and losers of recent days for critique. Thanks in advance.
Hi there. The two bars prior-- leading up to the set up bar --were alternating, down and then up with, which constitutes coil chop IF the next bar was a set up bar for a short, so off the bat this was a trade you would have wanted to avoid. Otherwise this wouldve been a fine trade!
In any case, I wouldve personally put my stop loss above the deviation level.
This was perfect! nicely done.
I think you got lucky with this one! Im biting my nails just looking at it. But it was going against DR, and there was no OD divergence. You made money! But don’t let it happen again UPDATE: took a second look at this… this was actually just a losing trade. DR was opposing your trade, but OD divergence said take it, so I was wrong.
Nice work calling this one! OD divergence by a lot… increasing the likelihood of a profitable trade
Good job on this one
This one is also very sexy.
Great example of a good set up being a bad trade every once in a while. This one just didn’t work out. Smart move moving your stop down!
Yeah. I wouldn’t have because of DR. Was there something on the chart that told you to go long, even though DR was red? I personally wouldve avoided long trades while DR’s red, but what did you see that made it okay to go long? I ask truly because I know there are times when it’s ok to go long on red DR, like when OD divergence goes down on higher high or lower low. What was the reason behind this trade?
also, I noticed a short set up right before it, Did you take that trade? DR was green, but OD divergence was wayyyyyy less than 50% between the last two highs. I hope you took it!
Which template is this? I don’t see a blue trapped order in the box. In any case, if this did in fact have a trapped order in the box then it was just another example of the right set ups leading to a bad trade. Again, I would get out the moment I recognize coil chop (thebars before and after set up bar both closed up).
And another trade that just wasnt profitable. Did it stop right at 16 ticks? That looks pretty close to the recommended take profit.
Another good set up gone bad! There wouldve been no reason to not take this trade. I personally wouldnt have only because you had some real powerful levels all around… that wall seemed to pull the market back up against you! UPDATE: I actually remember watching a video the other night where Darrell said that he would not take any trades going against the overall trend of the market, even enhanced ones, when the market is trending strong (barely any wicks)… which is exactly what your chart looked like on the uptrend. Id take the overall trend into account before going into a trade, even enhanced ones. Thanks to Darrel’s video, going forward ill really be analyzing the market and the indicators to get a definitive OKAY before placing even enhanced trades against a market that isnt just trending the other way, but just straight up FLYING smoothly.
I dont see a blue trapped order in this box. Is this a different template? There should always be a blue trapped order inside the box. Again I’m not sure what template this is, or if trapped orders look different on other sniper templates, but ifthere was in fact a trapped order in here then this wouldve just been another bad trade, which DID go into coil chop (the bars before and after the setup bar closed down. i wouldve gotten out the moment the downclose bar after the setup bar finished forming… which i’d know, based on the close of its direction, to mean coil chop).
Take my advice for what it’s worth, with a grain of salt! I’m new and just started learning, but some take aways I can offer are:
SHUN coil chop like the plague. And if it forms after you’re in, get out or leave stop where it is or move it to BE if possible (easier said than done… god knows I need to learn to take my own advice )
pay attention to DR (and OD divergence for extra opportunities!) and don’t take any naked xbox trades against it, unless OD divergence says its safe to do so.
Be super cautious around Dynamic magnet levels, walls, and settlement! Those are like MM on steroids.
Please feel free to explain anything you might not agree with! I also need to learn every single thing I can
@CNG13 Thank you for responding. I’m glad some of my setups looked valid and but just lost. Your conclusions lead me to improving my all round chart vision ESPECIALLY when comes to coil chop developing after entry. One thing I did right away was change the border color for trapped orders to light contrasting color to make them stand out more. I’ll be re-watching the tutorial videos this weekend.
No problem! And good! I was afraid for a moment there that there went any trapped orders.
Main thing is don’t move your stop thinking all it needs is breathing room to retrace a bit before moving in your trades direction… and again, Ive been guilty of doing this, but I think everyone can agree that it’s whats behind more loss than gain.
and yes, if, for example, you see a set up to go short, but the two bars prior were literally a downclose and THEN an upclose, then its a short trade you shouldnt take as that would constitute 3 bars alternating direction, which is a coil chop pattern.
I’m happy to help! Please don’t hesitate to ask away.