Technical analysis

[candles]

was one more good entry, really

 

[Scataphagos]

Good Morning Scataphagos,

When swing trading Price TA, how do you handle the staying the trade for the big profits? Do you use targets or just use your eyes to manage the trade.

"Counters"... moves against your position/trend... are always a problem. Once a counter starts, you don't know whether it will be short and shallow or be something much larger. The safest way to trade them is to trade out and back in rather than "ride out". The market gives you every opportunity to turn a potentially big winner into a small one.

 

[candles]

or if crude is your thing:

 

[Scataphagos]

or if crude is your thing:

View attachment 322420

The principles of Price TA are the same for all markets and all time frames.

 

[candles]

certainly.

Another example from this morning - Lots of TA points available on NQ so far this morning

 

[maxinger]

certainly.

Another example from this morning - Lots of TA points available on NQ so far this morning

View attachment 322451

Your TA is certainly causing you to lose tons of money.
Your reward / risk ratio is horrible.

You have to revamp the way you trade.
Make sure you target the RR ratio better than 3.

 

[theapprentice]

Another example from Monday, 9/4...

View attachment 322401

certainly.

Another example from this morning - Lots of TA points available on NQ so far this morning

View attachment 322451

Amazing trading, guys!
Would like to see you 2 in the ES journal to make some live calls! Would be an eye watering experience!

 

[semperfrosty]

I don't want to sound (too much) like I'm pontificating... but here's a chart of Friday's ES. The UP arrows are support which you could/should have bought. The DOWN arrows are resistance which you could/should have sold. Nothing big on Friday... just bopping along... but this kind of thing occurs nearly every day. Buy Support, Sell Resistance.

GL.

View attachment 322345

Please continue to pontificate!

Would you have a chart example handy of a a breakout and how it could be played?

Edit to say that my levels are much improved but I tend to be whipsawed if I take the other side too quickly.

 

[semperfrosty]

Another example from Monday, 9/4...

View attachment 322401

Notice how the market "built" support at 4518... and built resistance at 4532... then later tested the support built at 4518. THAT'S WHAT THE MARKET IS SAYING. The trading range is a time of indecision... traders should play the range extremes until "the market makes up its mind"... "Price TA". KISS, baby!

(There is more to Price TA than these simple setups*, of course. However, one can make a good living getting only setups like these correct. Start with the easiest and most simple then add to your knowledge.)

* Someone asked me one time, "how many Price TA correlations do you you know"?. I rattled off about 30 of them without blinking an eye. I'm sure there are more than that. Many of them don't occur all that often. For beginners I'd suggest learning about 3 or 4 of them... then "watch like a hawk" and trade them with discipline. The more esoteric can come later.

IF YOU CAN READ A ROAD MAP, YOU CAN LEARN TO TRADE "PRICE TA". KISS, baby!

If its not pushing our luck,could you suggest the top 5 or 6 correlations? By strength or prevalence perhaps?

 

[Scataphagos]

If its not pushing our luck,could you suggest the top 5 or 6 correlations? By strength or prevalence perhaps?

That's the kind of info I'd charge BIG $$$ for if someone with deep enough pockets thought they might benefit. Besides, I wouldn't want to deprive anyone of the thrill of figuring it out on their own. I've often said that I would advise "where to fish", but I'm not going to bait your hook and cast your line too... you have to do that yourself. (Ask "candles"... he's basically seeing it as I do.)

I've illustrated 2 of the most frequent/common... "matched low" and "matched high". Those alone are worth 7-figures to you eventually if you work it.