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As of lately I think that we can see the market bouncing and ricocheting off of various key support and resistance areas. I have no problem, as I presume the case of most traders (so I'm not exceptional), to identify trends and trade/scalp off of those trends/microtrends....and I usually find little issue grinding through range-bound sessions; however, the last couple of weeks seems a little more of an unusual expression of range-bound. Can anyone offer any advice, direction, or experience in how to push through this? Obviously everyone is constantly looking for an edge, and I don't expect anyone to disclose their system (if you don't want), I'm just looking for material to study, math to follow, or historical precedence to digest. Thanks y'all.
It seems the past week - two weeks have been a lower volume week during the 930-1 TF i normally trade on a 4500 tick chart and after the first 30-45 minutes of slow markets i move to a 900 tick chart a look for strong areas of support/resistance ... 2 legged move /failures to break out .. currently using macd BB bands all with stock settings.
normally looking for a 1:1 r/r .. maybe if you give a little more info on how your currently addressing the markets ppl might be able to help ya out.
In 2017 it was trending up constantly and now even though we have had a dip nearly all my shorts have reversed on my intraday. Shorted the ES many times in the last couple of weeks which had decent gains with all rallies which reversed all my gains.
I was always taught, aim for 3:1 only, but that was back when I was trading individual names in equities. I'm learning the hard way from April - May that maybe I should take 1:1 or 2:1 if I can in ES. Thanks for confirming this idea. I've had a lot of trades hit 1:1 but stopped out after I was waiting for more points.
