My nq price action method

Slugar

Just opened up today’s chart attachment…, haven’t even looked at your trade plans yet…,

And no matter what I say while reviewing your trade plans (good / bad / or indifferent)....

I want you to hear this first;

The context on today’s chart is beautiful

The context you drew – covering the price it covers – reflects what price is saying.., in those areas - to a T

Those are lines…, you…, and for that matter I…, can trust / can absolutely trade

That zone – what a wonderful surprise…, it reflects what price said in that area – and it is absolutely tradable

Job Well Done deciphering what price was saying… then drawing accurate context – both diagonally and horizontally – which reflects that

:cool: :cool: :cool: :cool:


Be back in a bit with your trades

RN
 
Todays trades.


Trade 1.
Long on a double bottom support 3550.75
stop 3548
target 3561 last swing high.

Comment

Entry – good

Stop – appears 3548 is the DB.., so go just a little lower than the signal – but not too much

Target – Can’t see the last swing high (no comment)

Trade 2.
Higher low long at 3559.50
stop 3557.25
up move trend line target break of trend line.

Comment
Entry – good

Stop –just a little too tight – breach “appears” to be at 3557 even - make stop 3556.50 / .75

Target – cool


Trade 3.
long on another higher low at 3571
stop umtl and
target premarket swing high of 3584.

Comment

Entry – Good

Stop – Breach of UMTL (I assume??) – Good

Target – Good


Trade 4.
last trade is a long at bottom of range 3582.75
stop 3580.50 umtl and
target top of range 3592.

Comment

Entry – is in the middle of your range – danger - see note below ... btw I think the circle is off (at an area to short??)

Stop – should be the breach of the bottom of the range (3579 and change)

Target – I don’t see that range – I see a range from 3580 to 3584 – wtf - target 3584


Note;

When trading a range...,the other side of the range should be the target... and a breach of the range side your entering near - the stop

eg.

Enter @ bottom of range, long
Target - top of range (or near it)
Stop - breach of range bottom

Enter @ top of range, short
Target - bottom of range (or near it)
Stop - breach of top of range

IMPORTANT;

Never enter..., a range trade.., when price is near / in the middle - of the range - because you will get screwed no matter which way you enter - I know this

Have the patience to wait till price reaches one side of the range.., or the other - makes for a proper.., low risk - set up/ signal / edge

RN
 
Redneck said:
Target – I don’t see that range – I see a range from 3580 to 3584 – wtf - target 3584
More...
RN：Learned from you again: trade what i see but not what i think. At red arrow I was thinking of a possible range from 80 to 92 but there should not be for no similar top around 92 yet. At black arrow, could we say a possible range from 80 to 92 ? Thank you.
 
Redneck said:
Slugar

Just opened up today’s chart attachment…, haven’t even looked at your trade plans yet…,

And no matter what I say while reviewing your trade plans (good / bad / or indifferent)....

I want you to hear this first;

The context on today’s chart is beautiful

The context you drew – covering the price it covers – reflects what price is saying.., in those areas - to a T

Those are lines…, you…, and for that matter I…, can trust / can absolutely trade

That zone – what a wonderful surprise…, it reflects what price said in that area – and it is absolutely tradable

Job Well Done deciphering what price was saying… then drawing accurate context – both diagonally and horizontally – which reflects that

:cool: :cool: :cool: :cool:


Be back in a bit with your trades .
RN
More...
Thanks for the kind words RN looking to be more disciplined in my lines and my discription of my trades, combine this with confidence to follow my plan to a t and we will be on to something here
 
Huyang said:
RN：Learned from you again: trade what i see but not what i think. At red arrow I was thinking of a possible range from 80 to 92 but there should not be for no similar top around 92 yet. At black arrow, could we say a possible range from 80 to 92 ? Thank you.
More...


Ranges are just that – areas where price ranges (consolidates)


3584 to 3580 – price is ranging on this chart (TF) (and which Sluggar correctly identified)


Likely 3580 to 3592 is also a range – or at least “potentially” the beginning of a range – on a larger TF

===========================

Thing is…. this is Slugar’s TTF – so he needs to stick with it / trade on it



What you’re picking up on… is how smaller TFs – build bigger TFs (albeit bars or charts)…

And you’re seeing how one can use a smaller TF to see/ pick up on – the inner workings of larger TFs

=============================

On this chart - what you noted (3580 to 3592) 3580 - 3584 is a range / 3584 to 3592 is trade-able moves

On Slugar's TTF


On a bigger TF chart - yup - 3580 to 3592 - is likely is a range forming

===================================


Very easy to confuse MTFs (a lower TF blending into / creating a higher TF) – if one doesn’t keep their head clear

And why it is important to pick a TTF and stick to it come hell or highwater... but... and while - also knowing the bigger picture forming

RN
 
slugar said:
(1) be more disciplined in my lines

(2) and my discription of my trades
More...

Both are vitally important

(1) Doing so accurately - accurately describes price's actions (and we are PA traders - no)

(2) Doing so accurately - accurately describes our actions - in relation to - price's actions

Details & accuracy matter in this business

RN
 
Trades for Tuesday. short on a double top at 3589.50 stop 3592 target 3580 bottom yesterdays range.2.short on a lower high 87.25 stop 91 and target last swing low 3579.3.long on a higher low at 83 stop 80 target last swing high 91.4. short at resistance 3590 stop 93.25 target range at 80. 5.short on lower high 3479 stop 3481.75 target dmtl break. 6. long at support 3553.75 stop 3551.75 blow signal bar target 60 last swing high. 7. short on a lower high 3558 target last swing 51 stop 61 or breach of dmtl
 
Honestly - half way through reviewing your trade plans - I was getting pissed - read on to find out why please



General comments

Appears the range from 3580 – 3592 (yesterday's range) was in play this morning - go figure :)

TLs – look good (I did add another (in red) as something to be aware of


Ranges;

One from 3580 – 2592 – you noted..., Also never be hesitant to extend a range out (horizontally across the chart) – it came back into play mid to late morning

One from 3564 - ~3552 – miss it??

The one noted ~3552 – 3551 – Personally I would not call that a range – rather a PB (a piss poor one at that) – that’s exhibiting weakness (see what I highlighted)


Trades for Tuesday.

Trade 1
short on a double top at 3589.50
stop 3592
target 3580 bottom yesterdays range.

Comment

Entry; Good

Stop; Make it a breach – not just arriving at the top

Target; good

However price never hit the target – instead it moved down…, then started back up – so what did you do…, how did you manage this one

Having target is fine…, as long as price plays along – when it doesn’t (and many times it won’t)…, we still need (a way) to manage each trade

Same as having a plan “A” and a plan “B”


Trade 1 ½

What the hell happened to the long near the bottom of the range?????? - You have it marked but no trade plan



Trade 2.
short on a lower high 87.25
stop 91 and
target last swing low 3579.

Comment

This trade is not marked????

Entry; 3587.25 (I assume) – okay (damn I hate guessing trade plans)

Stop; This stop is incorrect – it should be breach of DMTL… or breach of the top of the range (if you’re feeling generous with your capital)

Target;



Trade 3.
long on a higher low at 83
stop 80
target last swing high 91.

Comment

Near as I can tell – this trade is not marked

Entry; 3583 ??? (why the partial price)

Stop; 3580??? (again why the partial price)

Target;

Again – you appear to be ignoring that big fat range.., price is in (for the entry / stop/ and target)


Trade 4.
short at resistance 3590
stop 93.25
target range at 80.

Comment

This trade ain’t marked – no comment because I ain’t guessing

Entry;

Stop;

Target;


Trade 5.
short on lower high 3479
stop 3481.75
target dmtl break.

Comment
Entry; Good

Stop; Good

Target; Good


Trade 6.
long at support 3553.75
stop 3551.75 blow signal bar
target 60 last swing high.

Comment
Entry; Good

Stop; Good

Target; Good

Trade 7.
short on a lower high 3558
stop 61 or breach of dmtl
target last swing 51

Comment
Entry; Good

Stop; Good

Target; Good

I'm not insinuating you are - but please don't get lackadaisical on me - this stuff matters greatly


RN
 
slugar said:
(1)be more disciplined in my lines

(2) and my discription of my trades

(3)confidence to follow my plan
More...


Redneck said:
Both are vitally important
More...


If you haven’t figured it out yet – building a trader…. and/ or building an approach/ methodology

Is one big ass - extensive…, and ceaseless exercise in layering

No matter the trader – or the approach / methodology

First we remove the useless.., even detrimental layers

Then we begin adding layer – upon layer - to build a trader…, and/or to build our approach / methodology

There are countless layers we could add – some enhance the existing layers – while adding others would only serve to detract... or even negate - the layers we already have


Individual layers – are not complicated – and most..., easily understood

Yet when melded together – can become complicated… can be hell to understand… let alone – assimilated in such a manner..., that we can successfully and effortlessly utilize them together to trade


Context – proper context – context that accurately reflects price – is price’s voice speaking to us

Context – is the very foundation upon which we…, as PA traders…, build our entire methodology / approach

Build our trades

Manage our trades

Get paid

Or lose money


It is the very foundation upon which we build the trust – in price…, and in our trading

It is the very foundation upon which we build our resolute to act unwavering-ly and repeatedly …, and/ or the patience to stand pat as long as is necessary

We build each trade’s plan on the context foundation we create

Our plan must be thorough – it must be what we do – no matter how much hell (volatility) is going on in front of us


And I could go on…, and on..., and on... but to suffice to say

Proper context..., and a complete plan for each trade - is so damn important - it ain't even the least little bit funny

RN
 
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