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Price Action Kewltech Style
Started: by TheTradeSlinger Views / Replies:7,873 / 46
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Price Action Kewltech Style

  #1 (permalink)
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Price Action Kewltech Style

Anyone here ever read/study Kewltech?

I've found the concepts and methodology to be invaluable in my trading.

Hoping others have found this and would like to discuss it!

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  #2 (permalink)
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  #3 (permalink)
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From my journal to start us off here.


TheTradeSlinger View Post
Ok, let's do this. I'm going to shotgun blast the material out there and try to explain as I go along. Please ask ANY and ALL questions that come to you.

First things first, the market is logical and is always set up to do what it is about to do. It has to be technically.

How does the market move? Accum/distr, momentum progression, legs, levels, 1st and 2nd touches.

Chart 1: The current @ES chart
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Chart 2: The previous leg we are retracing NOW
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Chart 2 explanation:
Always identify the CURRENT leg that we are retracing. The blue line indicates the leg we are retracing back up. No guessing involved, nothing, just identify the leg we are retracing.

Chart 3: Identify levels from previous LEG (the one we are retracing)
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Chart 3 explanation:
Identify some key levels within the leg we are retracing, as those levels will be important again on the current leg. Notice how on the current leg, we are popping and dropping off of the levels from the previous leg?

Chart 4: THE CURRENT LEG
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Chart 4 explanation:
The current leg, the leg we are on right now.

Chart 5: Why did the leg stop and a new one start there? Why did price reverse?
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Chart 5 explanation:
Why did price reverse there and create a new leg?
Answer- always look left, there WILL be a key level from a higher timeframe.

Chart 6: Oh look, a leg start from the higher timeframe
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Chart 6 explanation:
Price reversed because it 1st touched a key level from a higher timeframe. And it just happened to be a doji! And bullish momentum had been building for this 1st test since late August!
Doji: KEWLTECH: Issue 044 - Doji Magic

Chart 7: Why did we sell off anyways?
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Chart 7 explanation:
Sideways on building bearish momentum? Ha and you thought the market wasn't always set up to do what it will do next. Where did we stop on the recent sell off? A leg start/level.


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  #4 (permalink)
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Last post I'll make here (rest will be in my journal for further Kewltech discussion) unless interest develops.


TheTradeSlinger View Post
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News at 8:30? Who cares.

It's in the charts.

Level 1st touch + building bearish momentum.

Market always set up to do what it's going to do.


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  #5 (permalink)
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time frame you trade?

Futures Edge on FIO

TheTradeSlinger View Post
Last post I'll make here (rest will be in my journal for further Kewltech discussion) unless interest develops.

Hi,
I'm following the reasoning.....but what time frame do you trade? I notice you have daily charts; but this is a 15 second chart. I'm wondering if your reaction time is that quick....isn't a correction off such a small time frame not so relevant to a daily chart?

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Zentrader2010 View Post
Hi,
I'm following the reasoning.....but what time frame do you trade? I notice you have daily charts; but this is a 15 second chart. I'm wondering if your reaction time is that quick....isn't a correction off such a small time frame not so relevant to a daily chart?

Great question.

I don't trade the 15 ⎌second chart, I was using it as an example of how the market will always be set up to do its next move.

My main chart timeframes are 500 tick, 1500 tick, 1m, 5m, 15m, 60m, 240m, daily, weekly.

The timeframes don't really matter, what matters is the lower timeframes are always working to achieve the bigger timeframe's objective and its trend.

Think of the timeframes as buckets. A 1m bucket of action isn't enough to offset a daily bucket of action is it? Change starts at the lower timeframes and manifests itself upwards. Accum/dist on the the lower timeframes can build up enough to offset the next higher timeframe and it'll all be evident on the charts.

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  #7 (permalink)
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Today's CL action -> First touch of previous support or resistance lost.

KEWLTECH: Issue 008 - Support & Resistance

KEWLTECH: Issue 080 - Mountains and Valleys

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  #8 (permalink)
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Do you trade the levels (by buying pullbacks?) or do you mostly trade the breakout (example with the divergence in MACD)?

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  #9 (permalink)
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philcollins View Post
Do you trade the levels (by buying pullbacks?) or do you mostly trade the breakout (example with the divergence in MACD)?

I mainly trade the levels themselves, for example if we are approaching a level of support I will have an order at the level or a few ticks above the level to enter the long.

KEWLTECH: Issue 052 - S/R Revisited

KEWLTECH: Issue 053 - S/R Action

Please ask anything that comes to mind as I am learning this as I go along too.

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Leg



TheTradeSlinger View Post
From my journal to start us off here.

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

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