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Bob Volman - Price Action Scalping

  #90 (permalink)

Mumbai, India
Trading Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
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Posts: 1,683 since Feb 2012
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Trading guided by Bob Volman

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From 13:44 to 13:48 price could have done two things - it could have broken out of the 20 pip trading range, or it could have respected the trading range boundary and retraced back to the other end of the range.

I only had to wait to find out. The later scenario played out and I shorted the IRB at 1.3769 at the 20EMA.

The next thing I had to do was wait till my 10-tick target was reached or till I could place a valid tipping point which would have taken me out.

The first scenario happened and the 10-tick target was reached instantaneously.

The second short I have marked was similarly easy to have gauged but note that I did not take it (Tilt Label: UP_ON_THE_DAY_SCARED_OF_GIVING_BACK)

For a great comparison of the trade with the Master take a look at a similar trade Bob has documented in Fig 12.1 page 180 of the book.

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