So you all have an idea of what and why it is that makes a trigger to trade, I will give you a brief rundown. Every morning at the open the âMARKETâ forms a BIAS ( Notice how I said the MARKET) not me â¦..lol After about 15 min all the dynamic levels for open range are produced ( you will see this in screen shots ) I will be referring to areas and times as TZ ( TRADE ZONE ) this is a time zone during the day that is prone to Responding in a repeatable pattern : Example would be TZ 2 has a high probability of going to the upside or TZ 3 reversal trade due to its high probability of mean reversions set-ups. The purpose of this is to provide REAL examples of why PRICE ACTION IS NUMER 1 first and foremost without exception Second would be supporting Momentum indicators that are used to assist and confirm, but NOT to rely solely on as some traders do. As I have been here for some time and many of you know me already, there has always been this back and forth between Traders on WHAT WORKS, Price Action or Indicators ? answer is BOTH that is why it is a never ending push and pull Between traders, you have to accept both and respect what they are trying to tell you. I would like to make this a really good and informative area for traders to go over there trades and interact With SOME regard to other traders that want to Improve upon what they are already doing or even find another Trade set-up to add to what they already have. I have been here long enough to know how the E.T. Trolls come in and destroy what anyone attempts to create as an informative thread here and I may just be opening myself up to that, only time will tell â¦â¦lol I will be putting up screen shots as often as I can and answer all question you have as quickly as possible You will see that most of the trade set-ups will be of the same nature and I will refer to them in some Odd names, however they will be repeated every day so you will clearly see the same trades over and over If those of you want to challenge or just be a pain in the butt and piss and moan â¦..blah , blah, blah PRICE ACTION< PRICE ACTION and donât forget PRICE ACTION â¦â¦â¦..so before you sound off make sure you understand market structure before you post cause I will always refer to it first! PRICE ACTION will dictate the set up and this is what I will go over in time to come. so if you see a SELL signal however with no structure is broken is it really a sell signal or is it a pull back that leads to much higher prices ? For example today 68s where a res level and 64.50 triggered a reversal in the BIAS of the market And once 62s broke they will become resistance Now knowing that move on to your indicators and confirm or trigger from the KEY levels, next level down would be 58s Then 54s under so now you would be able to press from those numbers using whatever you use for momo triggers There are millions out there use the ones you like and understand I hope this works out to be a good thread, if not oh well I tried â¦â¦.lol Happy Trading, Joe Baker
We just hit the 54s With a Loser Bucket Trigger from 58.50 That was using levels and Momo Trigger together !
Here is Today's S&P Targets 1st Target is 50s 2nd is 46.75 Break down area was 54s Remember this is for the entire day I will post a photo of the open rangs and explaine the open range this works on stocks as well ! Happy Trading, Joe
Ok so the daily target was hit .....BANG! Open Range showed a pattern anyone know what it was ? and if so how to a trader would trade it ? dont all be so quiet ..... trying to make this fun Joe
If 45s go watch for 41.50s 45 should get a bounce if it does not take out 49s to the upside watch for retest of lows and a break to 41s
This is the bounce I was looking for we are at 49s now from 45s That was also Wild Ride Clyde Time Zone.......lol Happy Trading , Joe
Ok Took out 49s on bounce........ lows are most likley in for the day One more push down is due however 45s should hold
Good Morning Here is the targets today for the S&P One thing to add is the levels of where we will stall or bounce from 41s are the downside target as well as a level so watch the 40-41 area 40-41 46-47 50-51 55-56 Then if we start to run upward watch the 57-58 area I can hear crickets here, ......lol I thought there would be someone at least trying to tell this does not work ? haha Take Care, Joe