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Price Action Kewltech Style
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Price Action Kewltech Style

  #251 (permalink)
New York
 
 
Posts: 8 since Jun 2015
Thanks: 2 given, 7 received


TraderRich View Post
Hi Genkigenki,

"Main parts I struggle with is that in some of the examples and explanations, the logic and explanation is simple in hindsight with the explanations marked but it can also be somewhat contradictory in the way, you can see the same kind of setups on the charts he is showing where what he says wouldn't have worked out.
I think the more I read it, it becomes that this is not a strategy or method in anyway, it's more just how the market moves and why it moves the way it does and it's then down your subjectivity on how to trade the chart with this knowledge."

That's the similar struggle I went through when I first read his blog. When I apply his technique, it fails. And then i realized, is not that his technique is not right but rather, i didn't have the correct mindset and approach to the market.
here are my 2 cent on how you should view his technique:
Like you said, his technique is more a like guide on why the market moves the way it does. Therefore, treat it as such or as one of your ingredient to your recipe. Your goal is not to "find" the strategy that works 100% of the time but rather your goal is to "develop" a strategy, or recipe, with different guidelines ,or different ingredient, that suits you best and give you the best chance to work 70% of the time. You have all the ingredients in the chart. The most difficult part is to find a way to put them all together to your advantage. There's no way around it. It all comes down to trail and error or, research, practice and repeat.

"So far I have been looking for a timeframe that is accu/dist. For example say the 60 minute is showing signs of accumulation, I then go down into the 30 minute to see accu started slightly earlier, then down into the 15 to see this started to accu slightly earlier that the other 2. Which is logical, momentum starts in the lower timeframes into the higher. You also see the same kind of chart patterns as momentum gains like this. I then revert back to the higher timeframe (60min) to see if we are approaching some form of support or approaching the end of a leg. I will look for any first touch opportunities to play long and then go back to the lower timeframe (15 min) to look for some kind of bull pattern for long entries and target the previous legs last lost support above"

I think you have the right approach to gauge momentum. I think you should also give more attention to your main time frame first before going down to lower time frame. For example, if 60min is your main time frame, you can evaluate your 60min chart to see what it had done recently, what the overall trend is and what your expectations are (e.g. are you thinking bullish because it had just broken above a resistance and its MACD is showing higher lows/slope upward with more bullish coming in and expect some pullback/correction before it go back up again or are you thinking bearish because it had just broken below a support level with MACD showing lower highs/downward slope with bearish volume coming in and expect a pullback/correction before it goes back down again)

"I have been looking at exact points rather than areas and in some cases, I have actually seen price touch to the exact pip and repel but I guess it's best to target areas given the subjectivity"

Yes, it is true that it can go to the exact point. What i mean is, if it helps you, when you identified the zone of your support/resistance and the price didn't reach to that exact point, you know that it have came down to you area of interest for you to execute your plan.


"Do you use the MACD as confirmation of accu/dist or just the price action? I'd be interested in how you or anyone else usually go about finding or taking trades using kewltechs info to try and gain some more knowledge?"

I wouldn't say I use MACD as confirmation but more like I used to see the momentum in the lower time frame in respect to my main time frame. I use it along with price action. For example, my time frame is 60min. If it broke above a recent resistance and I am looking for a pullback/correction back that level as support, I will go down to 30min chart to see if it is distributing for it to make the correction/pullback or will just continuing up.

Hope it helps a bit.

Have a nice weekend!

I have been reading the kewltech for 3 years now. Im not successful by any means in day trading but here is what i learned. it is more or less same as what traderRich said.

1). S/R is a zone. Some zones have wider stops like 10/20 points, some zones have smaller stops like 5 points. I use daily/weekly/monthly zones.But 90 Percent of the zones will hold and make money. Trying to be precise with entry point and smaller stops will certainly make you lose money
2). the lower time frames are useful to see the momentum change in the zone like TraderRich said
3). if you want smaller stops that can be achieved but you have to wait for the retest of the level gained within the zone

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The following 2 users say Thank You to kalatta for this post:
 
  #252 (permalink)
New York
 
 
Posts: 8 since Jun 2015
Thanks: 2 given, 7 received


mehmeh View Post
I guess everything written about trading after 1930s is stolen from Dow, Wyckoff and all the gents that are responsible for modern TA. Don't be stupid. I know for a fact that that "stolen" work is actually copyrighted in US library of congress. Probably should do your homework, just saying.

LOL ok sir, if that's what floats ur boat

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  #253 (permalink)
Miami/USA
 
 
Posts: 14 since Jun 2016
Thanks: 0 given, 1 received



kalatta View Post
LOL ok sir, if that's what floats ur boat

Just stating facts. I've seen it. Have a good weekend.

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  #254 (permalink)
Toronto America
 
 
Posts: 2 since May 2019
Thanks: 0 given, 0 received

What happened to his blog? Why is it set to private now?

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  #255 (permalink)
New York City, U.S.A
 
 
Posts: 9 since May 2019
Thanks: 1 given, 2 received

Seems like DopeTrades (Trader's Underground) really came down hard on that Kewitech's pdf.

Been searching for hours, trying to salvage any piece of info from it. Only Issue 83 to 89 is left.

Would appreciate a reply from anyone who managed to download it.

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  #256 (permalink)
New York City, U.S.A
 
 
Posts: 9 since May 2019
Thanks: 1 given, 2 received

I too have been becoming accustomed to this "micro/macro trend structure" trading, yet also do fail to always take the higher time frames into consideration- yet I doubt I will correctly be able to this without good fundamentals in the form of instructions, pics, explanations etc.

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  #257 (permalink)
New York City, U.S.A
 
 
Posts: 9 since May 2019
Thanks: 1 given, 2 received

It seems 1zach4 and Maricas69 has the best working knowledge of micro/macro trend structure in this thread.

I sure hope they come back to enlighten us a bit more, as it would be greatly appreciated.

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The following user says Thank You to COMMEdesGARCONS73 for this post:
 
  #258 (permalink)
New York City, U.S.A
 
 
Posts: 9 since May 2019
Thanks: 1 given, 2 received

Are there any other sources online that someone in this thread can link us towards who trades using micro/macro trend structure?

So far it was this "former Goldman Sachs trader" who's twitter has not been linked. As well as tradeitdontdateitcom, who has deleted vital vids apparently.

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  #259 (permalink)
New York City, U.S.A
 
 
Posts: 9 since May 2019
Thanks: 1 given, 2 received

Do you guys reckon Kewitech traded for an institution, and this is why he knows micro/macro trend structure?

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  #260 (permalink)
Thailand
 
 
Posts: 40 since Feb 2017
Thanks: 7 given, 8 received



Maricas69 View Post
Not necessarily Kewltech levels..just saw some posts on subject and looked and its basically how mkts, whatever it is, be futures, fx, individual stock etc moves. By moving to S or R what that does to momo and what MUST HAPPEN EITHER BEFORE OR AFTER ITS HIT to shift/reverse momo so it can react and go to opposite


Everything you wrote finally makes sense!!!! a year later. Thank you for taking the time to share this info.

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