Thanks Piscuy, Looks like different approaches to trading based on price action result in many of the same trades, given similar timeframes. What do you base your exits on?
Piscuy, Thanks fro posting your trades. I will play. Attached are the entries I'd enter. They both are longs. freewilly
Loss of momentum. Think of it this way. If you have lots of buyers in a long trade, you will see price move fairly fast, time and sales will blow by. There is an imbalance between buyers and sellers that drives price up. In order for price to go down, that imbalance has to go thru a midpoint, and then go to the other side for the imbalance again. Think of the analogy of a pendulum. When the pendulum is in the middle, price kind of stalls, time and sales slows down and then price starts to reverse. That is reason enough for me to exit. I know it is a lot of things to watch for, but with time and practice it comes naturally. Does this answer your question? Piscuy
Piscuy I vouch for Piscuy as a great scalper, I know his method well and he is at the top of the game. However, his methods and mine differ a bit so make sure you know this before hand to avoid confusion. With that said, there is a LOT to learn from him. Some say scalping the ES on a daily basis for double digits is impossible. I say they have not met Piscuy. Anek
Thanks for posting freewilly. The trade i was refering to is the second one you posted. I did see the first one but the potential for it was not that good enough for me due to the fact of the resistance being too close to it. As you can see, it was forming a wedge so no real way of knowing which way its going to break. Since a wedge is also a formation I like to trade, I rather wait for it to break it than to trade the bounces in it. Personal preference. Piscuy
Thanks indeed Piscuy for your insights and charts. Do you mainly trade ES? If yes, what periodicities you use for it: 5kv, 10kv? Thanks and good trading.