Monday pls come faster (a scalpers wish)
- Thread starter EsKiller
- Start date
LOL !!!
I apologize if I sounded like a megalomaniac.
I'm not here with a secret agenda. I don't want to teach, learn, sell or buy anything. I'm not here to scam and I don't think anybody can scam me.
I'm here just for the entertainment and fun !!!!
Much depends on how many bars are in the range and the context PRIOR to the range. But in general...I would be looking for the BO above the range to be successful (since 80% of BO’s fail)...so to put the odds in my favor that the BO will be successful I want to see a pb after the BO that stays above the range followed by a bull signal bar preferably, with a gap between its close and the high of the previous bar. Then I would enter long on the next bar once it breaks the high of that bull signal bar. Or if that bull signal bar is large and as it nears it close it appears it is going to close in the upper 1/4 of the bar then I might would enter before the next bar appears.
Another long entry senario: price breaks out above the range has pb back into the upper 1/4 of the RANGE followed by 2 or more bull bars in sequence with gaps (high above previous bars high or prev close) that BO above the range a second time. I would look to go long on next bar that breaks the high of the previous betting that this second attempt out of the range will succeed. This senario is a weaker one but often works out.
Here is an old chart I dug up illustrating my post #43 above. It didn’t have the gap between the close of the signal bar and the high of the previous that I talked about in post #43 but it did have a gap between the low of the PB and the BO point (blue) which is even better as it was a fairly good gap. This gap signals bullish forces at work and when followed by the bull signal bar together means bulls are winning over bear attempts to make the BO fail and price trade back into the range for subsequent direction to the bottom of the range. Notice the context (mentioned in post #43) PRIOR to the range as being an important factor. In this case prior to the range we had a bullish channel.
I wasn't going to do this, but after reading through all of this thread... and because OP seems to be an asshat with a chip on his shoulder... let me point out.
1. He apparently took $640 profit in the NQ in 9 seconds on Friday. Nothing wrong with that.
2. He's tootin' his horn about it and scalping as though he'd accomplished something.
3. He apparently was trading ~ 8 contracts.
4. The daily "move" in the NQ was 200 points. At 8 contracts, a $32,000 move... and he caught $640 of it.
5. Maybe his attitude about his scalping success is a bit out of whack.
6. And maybe there's more to the story, and I'm the one who is full of shit. (I'm ready to apologize for this post. Just show me it's warranted.)
1. He apparently took $640 profit in the NQ in 9 seconds on Friday. Nothing wrong with that.
2. He's tootin' his horn about it and scalping as though he'd accomplished something.
3. He apparently was trading ~ 8 contracts.
4. The daily "move" in the NQ was 200 points. At 8 contracts, a $32,000 move... and he caught $640 of it.
5. Maybe his attitude about his scalping success is a bit out of whack.
6. And maybe there's more to the story, and I'm the one who is full of shit. (I'm ready to apologize for this post. Just show me it's warranted.)
Easy with hindsight, but every pull back looks like a trend reversal, he might of waited all day to pluck up the courage to take 1 quick in and out then got scared and ran away to stroke his profits.
I know this cause I made $320 Friday trading US30 and I could of made 200down, 200up and loads more, but trading is scarey.
A third scenario is BO from a range or sideways action that is one bull bar after the other in sequence. Very bullish. Just buy. Chances are high that after any pb there will second leg at least that will probably render a measured move. Here is the same chart illustrating this. In this chart you also have a gap (not drawn in but can easily be seen) between the low of the first pb and the BO point (top blue line). This gap coming after a BO formed of successive bull bars only makes the bull case stronger and a second leg up more probable. An additional factor for the bull case is in both illustrations from the BO point ALL stayed above the MA.
True. Less scary when you know what you're doing rather than just hoping.
He made a good normal weeks wages in 9seconds ( and 6 hours building up confidence )