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See attached.. place a stop limit at the turn of the PA. Good news is hopefully you have already had reversal and price will sweep you into trade.. Bad news is you take a worse price than a limit order. Mack recommends these entries for most all 1EL/S and 2EL/S.
Beginners luck here.. A couple of good days make no trend for me... And SIM does not count as you know.. Still refining things here and working out some kinks.
Volatility Crazy.. Sat out most of trades.. TL's worthless due to speed of moves so mostly traded horizontal levels and pullbacks to them or BOPB's.. Another couple of perfect measured moves today ....
Almost took some out of plan trades where I buy a bar break opposing trend direction in a strong trend... Al Brooks micro trend play.. Would have worked several times today.. but caught myself and passed since not in plan for now.
Passed on many trades due to volatility .. Would not take some of the pullback trades due to stop size...
DOM movement created max stress for me today.. Glad I am done.
I color code on the 1800T chart blue any bar 8T or more as a Wide Range Bar to be used for momentum and bias.. See the overnight chart.. Literally every bar was greater than 8T.. I have never seen this before.. Liquidity not there...
Should be another wild day today with DOM jumping around and wild swings.
Scalping in this environment with small stops is pure gambling.. Only trades make any sense are limit reversal at levels and that is just gambling for the most part.
Part of this game is not digging big holes when market conditions not in your favor... Also, do not want to develop any worse habits when trading this crap than I already have. I am done for the day.
I have found Wide Range Bars to be a useful tool in helping me to stay on the right side of the market and momentum. Today .. everything was literally a Wide Range Bar, so that was one clue for me trading would not be conducive to my style of trading... But in normal conditions , they can be quite helpful for momentum and bias.
Here is a short video on how I use them in normal volatility trading.
Wolf
PS.. Had to change my avatar to a crazy monkey until this volatility subsides.
From your last video do you mind sharing the study and settings configuration you use to create your over night hi/lo and open and vwap lines on your chart. I am particularly interested in how you got the description to print in the price scale and how you get the lines to be truncated and not display all the way to the left.
I create another chart with a session from 1800-0929:59. I put the OHLC indicator on it.. I then go to my 1800T chart and do a study/price overlay and pull the study from my OVN chart onto the 1800T chart. THis study/price overlay enables you to pull any study from one chart to another.
As for getting the values in the scale, you will see in the attached , they give you an option on where to place the label and axis scale is one option.
I use the same procedure with a regular hours chart(a different chart) where I set teh session to the pit (0930-1614:59) I put on that chart the OHLC indicator and then using the study price overlay on my 1800T chart , I pull over the Open, the previous day, HI, previous day lo, previous day close..
So in essence, I have created several different chart for the sole purpose of placing indicators on them by their session times and I pull them to my main trading chart. I do not use those other charts for any reason other than that.
Hope I have answered your questions.. If not ask some more or pm me.. Be glad to help.
BTW.. setting up the lines as points versus lines makes it where it will not draw lines between sessions and really "spiderweb" your charts with lines from your indicators between days or sessions.
Wolf
PS.. This study overlay function is one of the main reasons I love SC.. Gives me some options to do some cool things without having to prgram..
