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Averaging down is one tactic that can work if done in the right context and done correctly but also scaling in when price moves in ones favor can be a viable strategy (and I do it too) but it has it's downside also. You can get whipsawed when you have your largest position on if you mis-manage...

I want to insert a note here about averaging down or scaling in if you can’t stomach the terminology of averaging down. WHY DOES AVERAGING DOWN WORK? (Contrary to most traders beliefs) In a bear trend (BO, channel tight or broad, or even a one bar trend that has a pB) if the pb stays below 2/3...

I want to discuss contexts. For a scalper/trader who is going for 1 to 8 points in the ES, the “Day Time Frame” context, in my opinion, is probably the largest TF that needs to be considered when one is actually executing scalping tactics on a 5 minute chart. The daily chart can be considered to...

Ok, so it closed in the upper 1/3 and very close to it’s high of the day. Also, note today’s bull bar’s low has a gap between it and the EMA. That means bears could not push price below the 20 ema today and that is an additional sign of strength. Plus, the second bull bar (that is the 2-4-20...

Ok since nobody will, I will. I say it will close a bull bar in the upper 1/2 of the bar and more likely the upper 1/3. 70% probability it will do so. 30% it will not.

I don’t think I have time for any more trades today however, I took snapshots of ES and MES trades. I took 5 min chart RTH’s snapshots (both ES and MES), 5 min chart 24 hour snapshots (both), 1 hour 24 hour snapshots with vol bars (both) , and a daily snapshot (of one of them). Some of these...

Here are a few trades taken this morning in ES and MES. All winners. I will make some comments later. Gotta run. First chart is ES RTH's 5 min chart. Second chart is MES RTH's 5 min chart.

Considering all the above info nobody postulates a closing scenario? ok I will. It could go either way. That indicates confusion. Confusion means range. Odds are it will close in the middle to upper part of the bar and will be an inside daily bar. Last trading bar (Friday I think I said...

1) Direction and Trend can refer to intraday and to daily movement or ANY other TF. e.g. weekly ..monthy...yearly 2) Yesterday’s can mean something about today’s trend. However, the extent of what it may mean depends also upon the larger context of yesterdays trend. Here is the ES daily chart...

To answer your questions. I did trade the morning part of the RTH’s day session then stopped. I am a scalper (with 1 point being my min scalp size). In momentum moves I will scalp lock in profits over and over. I will also average down if the context is viable for doing that. I did both that...

Here is the 1-29-2020 ES chart above marked up illustrating some concepts I use in PA along with a few comments.This is a 5 min chart. The blue MA is an 20 period EMA on the 5 min chart. The solid gray is a 50 SMA THAT indicates visually the intermediate trend of the day. It is also not too far...

Here is a chart for ES RTH's 1-29-2020. We get an opening gap up then bears push back hard and we plunge south (intraday plunge that is LOL). The idea is to wait and see if bulls are gonna push back. Can even trade the plunge but I don't remember but I probably was still in bed LOL...That last...

ROFLMAO

Just a little bit. I had other things to do. I may find time to post my chart. Yesterday I did trade more.

ROFLMAO. Just remember the sheep don’t have enough wool to move the markets. Take today’s gap up on the open in the ES. Bears push back hard to close the gap. Bulls waiting to see how far they get before buyers come in. Then bulls push hard back up. I am buying and selling, averaging down...

You might need to check the current on the neon bulb. Is the sign plugged it?

I use standard classic TA concepts and a few other things so the tools I use are not something unique that I have discovered. Even how I interpret them is not even unique. I am pretty orthodox. But what MAY be called unique is my praxis. I am trying to explain how I employ orthodoxy in such a...

Now that statement will get em hollering LOL

I don’t use them for entries. I’m not concerned with MA crossover entries. I use them to gauge strength of gaps and other things. I find trendlines very useful. Channel lines too. Range horizontal lines too. I find patterns..triangles..wedges...flags...etc useful too if correlated with context...

That is the way I prefer to do but the folks start yelling about hind site trading. BTW how did you use MA’s and why do you think they are an illusion at best? Why would not horizontal lines and trendlines and patterns and BO’s also be an illusions?