8-5-2014

Pre Trading Notes:

1.  Besides the standard 2nd entries at trend channel lines and the EMA I am focusing on another trade.  It is where you wait for price to break out of the channel (if price was heading up) to the downside.  It seems to retrace to the EMA or at least to a support area and will form 3 or so candles.  This is when you get long near the bottom of it.  Do the opposite for when in a down trend.  After price makes the new high then look for it to reverse.  Do not take 2nd entries until price has tried to make a new high after breaking out of the trend channel and then you would more than likely be looking to go short b/c price is probably going to sell off.
2.  If price breaks out of the channel far away, for example if price is going lower and breaks out of the channel even further to the downside then look for a big correction to happen soon when price moves back up or even a new trend to the upside.

Post Trading Notes:

1.  Still working on learning.  Watch Mack's videos and read an article a day from the premium section.

2.  If price (when going up) breaks out of the trend channel to the downside then goes back up to create a new high AND THEN continues to go up and not reverse to the downside......then you have a 2 legged measured move and we are about 55% through it.

Mack's Notes:

1.  Remember to draw your S/R measured line areas.  Measure the areas b/c when price breaks out of one area a lot of the time it moves a measured distance to the other way.
2.