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Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
Quote from flaborderie:
I have no experience watching sec charts, so I am not able to find myself any edge watching that chart with volume.
However, there is possible to find some edge watching the 1 min chart with volume as well. It is in fact pretty similar to the 1000 vol chart in NQ. Check out how volume makes a pretty clear spike when neckline in that HS is penetraded. Followed up by an even bigger spike in the very next red candle.
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Quote from veggen:
I have no experience watching sec charts, so I am not able to find myself any edge watching that chart with volume.
However, there is possible to find some edge watching the 1 min chart with volume as well. It is in fact pretty similar to the 1000 vol chart in NQ. Check out how volume makes a pretty clear spike when neckline in that HS is penetraded. Followed up by an even bigger spike in the very next red candle.
For some reason the quote was missing in there, but that was my follow up to flaborderies sec-chart from the HS on the NQ.
veggen
Quote from veggen:
I have no experience watching sec charts, so I am not able to find myself any edge watching that chart with volume.
However, there is possible to find some edge watching the 1 min chart with volume as well. It is in fact pretty similar to the 1000 vol chart in NQ. Check out how volume makes a pretty clear spike when neckline in that HS is penetraded. Followed up by an even bigger spike in the very next red candle.
Thanks for your post.
I have also dialed down to the 1' instead of the 5 seconds, following suggestions by Anek and others here.
I have painted in the chart what I consider, so far, THE best volume signal: After the price breaks a key level as you pointed out, then sometimes the level is re-tested in MUCH lower volume (in this case the 3 candles painted, make a weak up re-test of the broken support. At that point you have the lowest risk (in my opinion) to take a shot with a very small stop. At that exact point, you have price, volume and momentum CONFLUENCE.
Some "signals" are clearer than others. Stick to the clearest is probably the best option.
Still hacking at price-volume study here.(now in 1 minute ES...).
shakira
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I totally agree with you;Quote from veggen:
I have no experience watching sec charts, so I am not able to find myself any edge watching that chart with volume.
However, there is possible to find some edge watching the 1 min chart with volume as well. It is in fact pretty similar to the 1000 vol chart in NQ. Check out how volume makes a pretty clear spike when neckline in that HS is penetraded. Followed up by an even bigger spike in the very next red candle.
but shouldn't these different charts serve different purposes : 1mn chart or above to identify trend reversals, and very fast chart just to check what big players are doing and if a BR for ex. is not a fake ?
Very nice chart DanioZ, what a discipline in taking the entries with the trend and not calling a pause in the trend a reversal.Quote from DanioZ:
http://i34.tinypic.com/14bp2rr.jpg
7 trades
Winners: 57%
RR: 4.31
After I started posting my trading started getting better.
Tomorrow I'm off, and I think Friday is OEX day so I back to trading on Monday.
I marked possible 2b reversal at 10:15(exchange time) . I think it's possible entry with many confluances:
-2b + vol div @ 1min
-anchor downtrend
-pivot
-YHOD
sorry for my English
Best regards
May I ask you how you are managing your entries with those High/Low bars ?
I have them now because it allows to display a lot of bars on the screen. But I find a drawback, in that I can't see any more if the bar is a strong one (ie closing above/below the high/low of previous bar). I use this information when deciding to take or not a 3BR at a TL. How do you do that ?
Quote from shakira:
Thanks for your post.
I have also dialed down to the 1' instead of the 5 seconds, following suggestions by Anek and others here.
I have painted in the chart what I consider, so far, THE best volume signal: After the price breaks a key level as you pointed out, then sometimes the level is re-tested in MUCH lower volume (in this case the 3 candles painted, make a weak up re-test of the broken support. At that point you have the lowest risk (in my opinion) to take a shot with a very small stop. At that exact point, you have price, volume and momentum CONFLUENCE.
Some "signals" are clearer than others. Stick to the clearest is probably the best option.
Still hacking at price-volume study here.(now in 1 minute ES...).
shakira
excellent points you have there! Very nice, and I totally agree with you. That retest there, with much lower volume as you say, would have given you a very good entry with minimal risk.