Market context could just be the overall trend. This can be shown on the chart itself by using an.... <fill in the blank yourself>
The no BS, obfuscation-free price action thread
- Thread starter 1a2b3cppp
- Start date
1a2b3cppp, what market are you watching and how long have you watched it?
If you want PA setups have you taken a look at this book?
Forex Price Action Scalping: an in-depth look into the field of professional scalping Bob Volman.
Although it is about scalping, the setups can apply to all chart TF's.
If you want PA setups have you taken a look at this book?
Forex Price Action Scalping: an in-depth look into the field of professional scalping Bob Volman.
Although it is about scalping, the setups can apply to all chart TF's.
First, to prevent any misunderstandings, I asked you to summarize (list) what you were using in this thread only because I was too lazy to read the entire thread.
Thus, I assumed you know what that stuff (the specifics) was involving the price actions you listed. I'm also going to assume that you're just now learning that stuff you listed...a process that will take many months to apply and then transfer from hindsight chart analysis into real-time chart analysis.
Anyways, use Google to find lots of free information about 2b and W price actions if you don't know exactly what they are. You can then design your own personal rules for such that suits your own personal trading style. My point, pattern signals are more subjective (e.g. W bottom/top) than trade signals that are objective (e.g. 2b). Therefore, you're going to need to design your own rules for those pattern signals (e.g. W bottom/top) to piece together this puzzle that you seem to be trying to put together in this thread...
That's your responsibility and there's lots of free information on Google about such that can be had in a weekends worth of work because those are commonly used terms online by traders. Lots of freely available specific info out there online about these patterns and trade signals you're learning. Therefore, you should obviously be exploring Google because Elitetrader.com isn't the only planet in the galaxy.
Yes, I'm saying to look for a 2b price action (trade signal) within a W price action (pattern signal) and then keep detail stats about your rules for identifying a 2b price action within a W price action considering these are the things you've listed that you're learning.
If you're trying to computerize (code) that stuff you listed into an automated trading system...good luck with that.
Today's chart. I was gone for most of the day and wasn't able to watch it in real time.
5-28 5000 volume ES
I don't see much PA stuff that I can identify.
5-28 5000 volume ES
I don't see much PA stuff that I can identify.
I didn't see the "fill in the blank yourself" until I quoted your message because it was in <>'s and those removed the text as code. Ha!
I don't know how to quantify trend. HH/HL doesn't work. The slope of an MA doesn't work. I mean I can look at a chart and usually tell you if it looks up or down but that's just an opinion.
ES. For years although not consistently.
No I've not seen that book. Maybe I'll give it a look.
For the most part I don't read trading books anymore. I had quite a few and sold them all because they were all the same nonsense (cherry picked charts with indicators, "don't risk more than 2% of your account on a single trade," some psychology chapters, maybe an indicator or two the author was trying to promote, etc).
just some thoughts.. hope u get something out of it...
the Short entry .. would have probably stopped me out at 1656 ish
but hey.. another opportunity arises .. on your 3rd picture
where u wrote ORL as R .... look wehre price reacted ,
the fair price of the first picture .... get it ? ..
plus the background wich looks more weak then strong ? ..
the Short entry .. would have probably stopped me out at 1656 ish
but hey.. another opportunity arises .. on your 3rd picture
where u wrote ORL as R .... look wehre price reacted ,
the fair price of the first picture .... get it ? ..
plus the background wich looks more weak then strong ? ..