Times when price is between 2 zones on a bigger TFâ¦. Use the very same methodâ¦, on your trading TFâ¦, and see if a zone exists there Pink lines denote the intraday zone created today (question is, can you see it) Note; normally I do not have volume turned on - on my trading TF.., but turned it on for this ==================================== The green box â is a trade back into that zone Trade; DT to a LH short / 57.88 Stop; breach of DT / 57.99 Target; top of zone / 57.48 (I chose the top instead of the bottom as thereâs been strength present ) RN
Normally I do not like to trade @ / near the open⦠rather allow things the volatility to settle and price show its hand Unless a clear opportunity presents itself The green box â is the trade (noted on 1 min..., and 5..., but used only the 1 min for this one) Trade; Long @ 55.11 / .12 Stop; breach of lower zone / 55.97 (but Iâd be seriously considering exitingâ¦, for a loss.., if the open of the 1st bar (which is/ was the mkt open) â had been breached by the 2nd bar (on the 1 min) Target; top of zone / 56.58 (and I exited immediately â opens are too volatile to mess with) premkt.., price had been moving up and into this zone (apparently it wanted to be there) Note; I am not suggesting trading the open â rather this is an example of how to use zones to set up trades back to our regularly scheduled program RN
Yes Sir Time.., volume.., and price - throw in some lines..., boxes/ rectangles I look at volume as - traders with the clout - are doing something - in preparation for something - best I take heed Here's a couple regarding volume On a lower TF - look for higher volume spike (relatively speaking) just prior to a PB In a range / think hinge - volume will drive which way price heads out (typically) And I'm not talking about volume on the B/O bar - rather volume inside the range B/O volume - is the B/O real 3 phases to B/O volume volume necessary to break price out volume created by the stops being hit / traders reversing / initially entering Then the telling volume - the batch that either drives price out and away.... or the lack of which - sucks price back in There is a great deal... and a great many nuances to volume - as there is with time... and PA I love em all dearly RN
500 tick. trade 1. higher low long at 3540.50 stop 3538 target last swing high 3558 Notes/ observations This UMTL (up move TL) is messy â look where it begins â at neither the wick end or the body â be precise Target = last swing high/ 3558 = whyâ¦, how did you know it was the last oneâ¦, or even that price would create it trade 2. short lower high at 3549.25 stop of 3552.25 min. target 3540 area of last swing low. Notes/ observations Solid plan Aside â you appear to be picking up on shorts better than longs??? Trade 3. short on a double top / 3544.50 stop 3547 target 3528 top of support zone. Notes/ observations entered..., either a little too late.., and took some heat⦠or a little too early (prior to the retest of the DT) â its always a judgment call â and easy to arm chair QB (by me) The stop may be a little tight..., based on the PA in that area (the 9:18 bar actually breached the 9;12 bar) The DMTL here (down move TL) is drawn sloppily (wick or bodies â pick one and stick with it) Trade 4. long on a higher low at 3539 stop 3536.50 target 3551 swing high Notes/ observations Price breaches the UMTL â yet you enter long there â why - Iâd wait till a HL (which respected the UMTL) and enter there â clearer PA / tighter & clearer stop trade 5. short at double top 3550.25 short 3553.75 target 3543 swing high. Notes/ observations Ugly PA.., and price is actually in a range (~9:48 â 10;11) Granted the short worked â but Iâd have sat on my hands Range BO down w/ resistance not too far below (note the range put in during trade 3) DTs/ DBs are solid signals â just realize a byproduct of theirs is always a potential range forming The DMTL needs to originate back on the 9:46 bar.., and connect the 9:55 / 9:60 wicks (at a much lesser down angle) Those are not DT / TT â they are actually LHs (precision is important) This whole area is also a range Trade 6. long double or triple bottom stop 3551.25 target 3560 resistance Notes/ observations I see a DB w/ a breach (false BO down) â which could lead to a B/O down - or not A range A false B/O up That is some messy ass PA Move down â price is in the range formed around trade 5 Move up â price is at the high of the session so far This PA is saying it doesnât know what it wants to do (direction to head) ================ This whole chart - price moves.., creates a range... moves again..., creates another range - iow bouncing from range to range to range (and if there is not a range - it creates one) indecision - personified perfect example.., why day trading targets - works..., over holding (hitting a home run) ====================== Well written plans Good job Sir RN
Play off yesterday's intraday zone Have the patience to let price drop in it - buy - it pops back out - exit wrr see ya this evening RN
okay - I lied 2 intraday ranges (1 made today) and price sititng in the longer TF range indecision Time to sit on hands till the dust settles - no need beating one's head on the wall RN