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Price Action Kewltech Style
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Price Action Kewltech Style

  #11 (permalink)
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Thxfortheticks View Post
I have a question regarding your chart with the leg that has a blue line. If price is going down how is the blue leg down the leg we are retracing right now? Wouldn't the leg that brought us up in price be the leg we would be retracing ? Also I just found this site and getting caught up on your posts. I'm really enjoying this far . Thanks in advance

@Thxfortheticks,

The blue leg is the leg we are retracing, that's the leg we look to to identify levels for the current move up.

"If price is going down" How do we know price is starting a new leg down? Maybe it is just bouncing off support and continuing upwards (yellow line)?

Here's the thing, we can never really "know" when it comes to trading. There is no certainty. What we can do as traders is estimate the probabilities of moves and play the probabilities.

As you get better at identifying levels, accum/distr, and momentum progression, you will be able to estimate the probabilities with greater clarity.

Here is some further reading on legs specifically:

KEWLTECH: Issue 063 - Price Action And Legs

KEWLTECH: Issue 069 - Leg Hopping

KEWLTECH: Issue 076 - Sweet Oily Legs

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  #12 (permalink)
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kewltech

Im very interested in hearing about your thoughts on kewltech. however im not understanding what you mean by the blue leg down is what you are retracing as price falls ?

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  #13 (permalink)
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Thank you for this post! Very helpful ☺️

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tobym333 View Post
Im very interested in hearing about your thoughts on kewltech. however im not understanding what you mean by the blue leg down is what you are retracing as price falls ?

Yes, I believe so. Always start with bigger timeframe to see which leg we are tracing and then zoom on hourly timeframes. To Loool for the leg segment to the left. Hope that helped. Please ask if you need clarification

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  #15 (permalink)
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I understand how to locate and trade the first touches as they have very high probability, but is there a way to know how big the Pop/drop would be? Whe it pops/drops because of a news event it often disregards all of the levels, how does one know how far the Pop/drop move will take us?

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  #16 (permalink)
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Depends on the accum / dist process and the significance of the higher time level hit

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Mudshark View Post
Yes, I believe so. Always start with bigger timeframe to see which leg we are tracing and then zoom on hourly timeframes. To Loool for the leg segment to the left. Hope that helped. Please ask if you need clarification

Yeah . Can u clarify the LEFT?

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  #18 (permalink)
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tobym333 View Post
Yeah . Can u clarify the LEFT?

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Excuse this poorly drawn example lol, but this is what is meant by the left leg:

A is the leg down, B is the leg up.

The B leg is retracing the A leg upwards, and will respect levels from A on the way back up.

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Mudshark View Post
I understand how to locate and trade the first touches as they have very high probability, but is there a way to know how big the Pop/drop would be? Whe it pops/drops because of a news event it often disregards all of the levels, how does one know how far the Pop/drop move will take us?

We can never know with certainty how big a pop or drop will be.

The larger the timeframes, the larger the moves on average.

Kewltech makes reference to "...the wider the base, the larger the space", maybe dive deeper into that?

KEWLTECH: Issue 010 - Momentum Part 1

KEWLTECH: Issue 045 - ES Go!

("Wider the base, larger the space" mentioned in both articles above)

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TheTradeSlinger View Post
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Excuse this poorly drawn example lol, but this is what is meant by the left leg:

A is the leg down, B is the leg up.

The B leg is retracing the A leg upwards, and will respect levels from A on the way back up.

Perfect explanation! I always start with bigger timeframes to get a general idea and then zoom in. It is worth noting that there are always legs within legs that have levels as well.

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