Bob Volman - Price Action Scalping | Currency Futures


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Bob Volman - Price Action Scalping

  #76 (permalink)

San Jose, CA
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP Futures/CQG
Favorite Futures: currency futures, ES, TF, EMD
 
Posts: 20 since Jul 2012
Thanks: 22 given, 24 received

Range versus block breaks

Hi Tony,

Thanks for your thoughtful question. It has been a while since I read the chapter on range breaks, so I took this opportunity to revisit it with respect to your question.

I do agree with you that range break setups are typically more protracted than the trades I posted. Bob Volman said on page 138 that range formations can last from about 15 minutes to several hours, and that the average is the better part of an hour. Both of my setups were approximately 10-12 minutes long, which may better fit either a block break setup, or perhaps an inside range break if they were to occur within a larger range. Since the characteristics of the setups are pretty much the same for block and range breaks, I personally do not differentiate between them. In fact, in discussing inside range breaks, the author refers to small, compressed blocks of price action within the larger range as mini ranges.

As for the height of the boxes, in the second trade I could have drawn the bottom at 1.2943, which would have made the width more like 6 ticks. I did not bother to draw the bottom of the box precisely because I was looking for a trend continuation and for my trend line and the pivot at 1.2945 to hold. Strictly speaking, this better fits the block break than the range break, but as I mentioned I personally treat them as the same.

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