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19 outside bull bar, test of 17 close. bulls want mm up from 15 spike. no strong selling pressure or buy climax, prob buyers at EMA.
20 first 2 legged pullback, high 2 buy setup if ticks above, but buying high and weak SB, so swing only. prob better to wait, within MF of EMA.
21 stronger high 2, reasonable swing buy.
22 bears forced to exit / scale in higher. poss MG. bears want FF reversal but little selling pressure so less likely.
23 2BR for FF, small ET (16,17,20,23). filled 22 gap. but shorting into micro channel bull TL.
24 bears could not trigger short. instead BOPBL.
25 building selling pressure, outside bear bar. bulls no longer getting CC bull bars. transitioning into bull channel, possibly trading range.
26 strong bear EB, first close below EMA. reversed many bull closes. bears need BO below 6 with FT.
27 poor bear FT, bulls bought 26 close. poss broad bull channel and buy vacuum test of TL.
28 both sides fighting for FT, weak low 1. bulls want test of 24 close.
31 2 legs down, large high 2, EMA gap bar. bulls want DB / TR with 6. bears want 30 MG and spike and bear channel.
36 bulls scaled in for test of 24. bears want TR with 25. broad bull channel. 35 or 36 poss MG.
37 bull BO to new HOD. failed bull TC overshoot (tail). 36 mm tgt not far above. parabolic and climactic rally.
38 growing ET (16,20,25,31). bull TC overshoot, prob BCX to mm tgt. bulls want 37 MG for BO and mm based on height of channel. bears want BCX and HOD.
38 bulls made SP buying new high, SOS. but climactic and unsustainable buying.
39 bulls and bears waiting for 37 mm tgt. NA @ 1030 poss catalyst for strong reversal and HOD.
40 tail, profit taking at mm tgt. prob end of bull rally and BCX.
41 rally likely buy climax bar on HTF charts, end of bull and start of longer term correction.
42 reversal at mm tgt, weak high 1. swing short for BCX but not great SB. bears prob need sec entry.
44 sec entry for BCX and FF reversal.
45 poor bear EB. PA very similar to 17-20.
50 signs of PT / LO bears at new high.
51 outside bear bar, building selling pressure. almost identical pattern to 17-25
53 bear EB and FT bar. bears need BO below 45 with FT.
56 small bull channel / TR. building selling pressure but no strong reversal yet. 55 poss wedge top (43, 50, 55) or 1 more push up.
57 bear BO below bull flag TR, need FT for AIS. first close below EMA.
58 bear BO with FT, bulls see as 2 legs down from 49. 57 poss MG. bulls want ET bull flag.
59 EMA gap bar / bull attempt at failed breakout of TR. but weak compared to 58 bear spike.
66 test of middle of ET / range. bears want LH and bear channel or reversal from FF. bulls want bull channel from 38-59. prob develop TR as both sides fight for control.
75 TR / weak bull channel. ascending triangle.
79 bull BO, test of bull TC. reached mm tgts from 36 spike and 70 SCX. 78/79 gaps poss EG. likely PT / LO bears above 55 high. bears want FF reversal but need strong setup.
81 weak high 1 into bull TC
85 2BR for FF and failed bull TC overshoot
89 sec entry for 85. also small wedge top and sell setup for failed high 2.
Today was a bull trend from the open and a spike and channel bull trend day. It is also a variant of a trending trading range day with two trading ranges separated by a bull spike.
Best Swing Trades
31 large high 2 / EMA gap bar and DBBF with 6.
59 large high 2 / failed bear BO of bull flag TR and EMA gap bar (repeat to 31).
Best Scalps
BB 19 weak reversal attempt after strong BTC bull trend
BB 33 weak low 1 at bottom of bull flag and after 31 reversal
Other more aggressive scalps; buying 37 or 38 close.
Can you help answer these questions from other members on NexusFi?
Open: gap down, sell off on open, strong but climactic. poss sec leg down from yest high (gap down first). bears want test of yest 31 area start of bull channel. bulls want test of yest high.
20 strong selling, so far bear trend from the open. poss bear channel. bulls will try to form large TR with yest 31.
22 outside bear bar, bears want 20 MG, tgt yest 31.
24 sell vacuum test of sup. failed bear BO of TC. but weak SB, BTW for sec entry. bears want 22 or 23 MG, but less likely.
25 ii buy setup, but still weak. little buying pressure. downside limited by bear TC.
27 good bull EB, filled bear 22 and 23 gaps. bears waiting to sell higher.
28 bears see as failed high 2. but shorting into support and after SCX. prob BB for SP.
31 small 2 leg correctiong to EMA, found sellers. filled bull 27 gap. small bear flag TR.
32 LOM, bulls holding support. prob BB 24 low, scaling in. small TR poss final bear flag for correction to bear TL.
33 2BR, sec entry buy setup off support. buying high in bear flag TR and stop entry in LOM. but OK swing buy.
34 poor bull EB, formed failed high 2 sell. but shorting into sup, again stop entry in LOM. so swing only.
35 bear trap, buyers below. reasonable swing for test of bear TL.
37 poor bull FT. back to back failures. BOM.
38 bull BO, failed low 2. bears giving up, wait to sell higher.
39 bulls want 39 MG. more likely buy vacuum test of bear TL. bears likely STC, SI higher.
40 filled bull gap, large low 2, wedge bear flag and EMA gap bar. Also weak high 1 into bear TL and high of bear flag. likely SA for SP, ok swing below.
42 good bear entry and FT. bulls forced to exit, contributing to sell off. bulls likely wait for new LOD before buying again. 41 poss MG.
45 39 BTC bulls scaled in, exiting BE. still within bear TL. building buying pressure. likely SA 39.
46 DT BF, 2EMA gap bar, wedge bear flag off bear TL.
48 first break of bear TL. building buying pressure. bears want to keep 19 gap open.
49 bull BO, bear TL failed. prob developing TR with 18. 48 poss MG.
51 poss broader bear channel. bull BO failing, bears returning. if bear channel fails to hold, prob TR with 18. bulls want BO above HOD and mm up to fill gap open.
55 bulls giving up, bear TL holding. filled bull 48 gap.
56 variant of a high 2, bulls want another failed reversal but less likely. bulls prob exit around 49 close, bears will short to defend TL.
58 bears so far defending TL, BOPBS / DT PB. bulls likely exit below. but bull SB so swing short.
60 better sell setup for 58.
61 bull BO, bears gave up. will try to form TR with 18. bulls need FT, otherwise bear flag TR.
62 2BR for small BCX / failed bull BO.
65 sec entry for 62.
74 sell setup for failed sec entry long after reversal from high of range.
Today was a large trading range day. After CC SCX's prices rallied in a bull channel to above the second SCX and formed a trading range. The bulls were unable to break above and instead prices sold off in a STC bear trend to a new LOD. The bears may create a measured move down based on the height of the range and double the daily range.
Best Swing Trades
35 failed low 2, failed bear BO, and sec entry. also sec entry for CC SCX's
65 sec entry for failed bull BO of bear flag TR. Also a sec entry for large wedge bear flag (40,50,62)
Best scalps
SA 21 weak reversal attempt
BB 36 weak low 2 after bull reversal
SA 68 weak high 1 after failed BO above TR and reversal
74 failed high 2 after flip to AIS
Other more aggressive scalps
STC 39, SA 63 weak high 1 top of TR, 78 STC
Open: friday - bulls want week to close on high (todays high). bulls will prob test high of 2 year TR in the next few weeks, next level of resistance around 1.1365. Bears unlikely to create strong reversal and close the week near last weeks high. The best the bears will likely get today is a TR. This week may become a MG on weekly chart.
17 big bull BO above yest high. bull trend from the open, no bear SP, very little selling pressure. bulls want spike and channel / gap and channel bull trend day.
18 weak reversal attempt, prob BB. 17 poss MG.
19 filled 17 gap slightly. weak bear EB. poss bull TL for MC.
21 building selling pressure, small bull flag TR.
23 bulls scaling in for test of 17 close. bears exiting after selling 11-14 and scaling in.
25 small bull channel, bulls got test of 17. bulls want mm up from 10 spike. bears prob wont return until new HOD.
27 sellers at new HOD, prices limited by bull TC. weak bull channel, poss transition to TR soon.
28 high 1 buy setup for failed low 2, but into HOD and bull TC. risky, prob SA for SP / test of EMA.
29 sec entry for failed bull BO / off bull TC. bulls disappointed with BO.
30 outside bull bar, failed low 2. but tail, building selling pressure. still within bull TC.
31 bull BO of bull TC. bears forced to scale in, want small FF reversal and failed bull TC overshoot. 31 poss small BCX.
32 bears failed to form 2BR with 31, instead bull FT bar. but did fill 31 gap making it less likely to become MG and more likely EG.
34 no sign of strong bears / rejection. area where bear will scale in for test of 18 (10 pips above high). but working towards 10 mm tgt, not far above. so far small pullback bull trend day.
35 LO bears made SP selling above 18, scaling in. reversed prior 5 bull closes, building selling pressure but first strong bear bar. likely buyers at EMA for 20EMA gap.
36 weak bear FT, buyers on close of 35. within MF of EMA. more likely bull flag than start of reversal.
38 start of sec leg down, poss repeat to 21-26 bull flag.
39 first 2 legged pullback in bull trend, first test of EMA. likely buyers below.
40 high 2 buy setup off EMA and bull trend line, similar pattern to 25.
41 bear attempt at failed high 2. low in bull flag and shorting into support of EMA and bull TL. more likely BB for wedge bull flag and bear trap.
43 ttr, both sides fighting for FT. weak low 2, prob BB.
44 bull BO, bears gave up.
49 building selling pressure, bulls taking profits around highs. bears becoming more aggressive. 47 broke bull TL. TR forming.
56 first close below EMA, middle of TR. small converging triangle. BOM. bears need BO below 40 with FT for AIS, otherwise bull flag TR.
61 bulls exited after buying 53 and scaling in. building selling pressure. starting to resemble trending trading range day.
64 sec entry buy, 2EMA gap bar bottom of bull flag TR. reasonable swing. bears want BO below and test of 15-23 DB.
65 outside bear bar, bear BO. need FT.
66 failed bear BO, poss broader bull channel from 15-23-66.
Today was a spike and channel bull trend day and a bull trend from the open. Although prices spend most of the day within a 10 pip trading range. The bears gave up and the bulls got a mm up based on the 78 MG. The day / week will likely close on or near its high for a strong bull trend bar and possible MG on weekly chart.
Best Swing Trades
23 DB BF with 15 and failed reversal attempt. also a variant of a high 2.
54 failed high 2 and sec entry short at top of TR. could also be considered a MTR.
66 failed bear BO of bull flag TR and 2EMA gap bar. also off broader bull trend line.
Best Scalps
BB 25 weak low 2 after 26 reversal
40 high 2 off EMA
72 failed reversal attempt
Other more aggressive scalps
30 failed low 2, BB 37 or 39, SA 57, BB 64, BTC 65 sell vacuum, BTC 78 FT bar
Hey Mastercraft29 just wanted to say thanks for keeping up with this thread, I still follow your daily reads and find them very helpful. I passed the 30k TST combine today, will start funded prep next week and so far had everyday in may profitable. Glad I got to speak with you earlier in the year. Hope all is well and hope your book is well underway
Hey Josh one more thing I just learned about, the emini e7 is a good option when trading and the risk is big, worth throwing in your arsenal, good option for certain swing trades
Hey Christian! good to hear from you, glad you are doing well. Congrats on the TST! Keep up the hard and good work! Thanks for the insight for E7 might be a good alternative!
Open: another gap up, spike and channel bull trend. bull trend from the open. bear attempt at DT and TR failed.
21 bears selling highs scaling in, bulls buying below bars and bear closes. bull channel.
22 high 1 buy setup, but buying into highs. bulls want 18 MG or mm up based on 5.
24 sec entry off bull TC, bulls exited at 21 close.
25 building selling pressure, likely buyers at EMA.
26 high 2 buy setup / failed low 2. middle of channel, likely to test EMA / trend line first. ok swing buy above. weak low 1 and LO scalp below. reasonable to wait for test of EMA / TL.
28 bear attempt at failed high 2. weak, shorting into sup. more likely BB for BOPBL /wedge bull flag.
30 outside bear bar, building selling pressure. bulls no longer getting CC bull bars, tails developing. but defended 18 gap
32 20EMA gap bar, sell vacuum test of support. bulls likely BTC.
33 large high 2, DBBF 26.
34 good bull EB, likely BB for BOPBL if prices tick below.
35 bears gave up, reached 18 mm tgt. 5 mm tgt just above. bulls want 34 MG. buy climax, bull TC overshoot.
37 reached 5 mm tgt. some PT (tail). but no strong reversal.
38 2BR for BCX, weak. ok swing short but reasonable to wait for sec entry.
39 high 1 buy after BCX, risky. 37 BTC bulls prob exit around close of bar. 38 poss 1 bar FF.
40 sec entry for BCX and bull TC overshoot. weak high 1 after BCX. likely SA and SB.
42 bear entry and FT bar after BCX. AIS. bears want test below 33 / bull TL at min, poss HOD.
48 bears want mm down from 45 / test below 33 at min but prices holding at bull TL. bulls see as 2 legged pullback to TL after BCX
49 first break of bull TL, bulls gave up unable to hold. 33 bear tgt likely will be reached. bears want test of 13 start of bull channel.
51 reached 45 mm tgt / start of bull channel. very little buying pressure since 38. but climactic, poss sell vacuum test of sup. bears want 50 MG and new LOD. prob large TR developing.
54 waning bear momentum, bears starting to take profits. bears want spike and bear channel, but need strong BO below LOD. otherwise large TR and 2 leg test of sup.
57 sec entry, DB with 1 and MDB. also small FF. prob bottom of TR.
Today will likely become a large TR day. The morning began with a bull trend from the open and a spike and channel bull trend. After a BCX and bull TC overshoot prices sold off strongly in two legs to the start of the channel. Prices are currently in a small trading range as both sides fight for follow through.
Best Swing Trades
33 high 2 / wedge bull flag and DBBF off EMA and bull TL.
40 sec entry for BCX and bull TC overshoot
Best Scalps
SA 43 weak high 1 after BCX and flip to AIS
BB 58 weak low 1 / BOPBL
Other more aggressive scalps; BTC 32, STC 42, STC 49, 50
I was only able to trade part of the day today, and only took one trade (40 sell). I took majority profits at the start of the bull channel on the 51 exhaustion bar. I took exited the remainder of my position above the 57 high 2. I tried to buy the 32 close but was unable to get filled.
Open: early SCX, failed BO below yest low. bears want bear channel from yest to continue. the bulls want a reversal and test of yest high / start of bear channel.
20 strong reversal and buying pressure, AIL. sec leg up likely.
21 poss buy vacuum test of yest bear TL. 21 rally strong, sec leg up likely even if small. bulls want 19 MG or mm up based on 20.
22 some PT, bears want to defend TL but weak, failed to close as strong reversa bar.
23 stronger sell setup, EMA gap bar. bears defending TL, but prob need sec entry after 21 strong rally.
24 weak bear EB but weak high 1 buy setup. prob SA, SI for SP.
25 nested ET (21,22,23,25). building selling pressure but bulls keeping 21 gap open. 22-25 poss final bull flag, prob SA 23.
28 prob start of sec leg up to test yest lower highs. bears want sec entry off bear TL. poss bulls exit at 21 close.
30 broke bear TL, next level of resistance yest lower highs. bulls want 29 MG, but mm up from 20 more likely.
31 BCX / buy vacuum test of yest lower high and 20 mm tgt, found PT (tail). prob start of large TR.
32 2BR for BCX / large low 2 after break of bear TL / 2EMA gap bar. reasonable swing short. bulls want spike and channel and to keep 29 gap open, tgt is start of bear channel. bears want test below 28 and mm down for test of low.
34 weak bear FT, bears lacking conviction.
35 outside bear bar, bulls exited at 31 close. AIS for 2 legs down / test of low. reached first bear tgt below 28. want mm down. bulls want ET (23,27,31,35) and HL.
40 signs of PT / waning bear momentum around LOD. small spike and bear channel. reached mm down from 28. bears want mm down from 35 which is new LOD. prob large TR forming.
43 bears exiting around 15 close. poss small SCX and wedge bottom soon (38,40,43).
46 bull BO with FT from wedge bottom. large TR. back to AIL.
48 strong bull spike. 47 poss MG. weak low 1 after AI flip, likely BB.
49 stronger sell setup. bears want start of bear channel, but lower third of TR and after wedge bottom. bulls want sec leg up and will attempt to BO above TR.
50 high 1 buy setup for failed bear reversal
52 variant of a high 2 / BOPBL
53 low 2 sell, middle of TR and after strong bull reversal. poss bear trap.
54 big bull BO, bears gave up. bulls likely get test of yest bear channel. closed with large tail after new HOD and test near start of bear channel.
55 bulls want 54 MG / BO above TR / mm up.
57 heavy selling at new HOD / yest bear channel. BO above TR failed, TR continues. large evolving ET (23,27,32,44,56).
59 strong selling, poss bear BO and mm down from TR or 58 MG.
60 huge bear BO, reached mm tgt based on TR and 59 MG. poss bear channel to follow. next level of sup on HTF is 1170.
64 bears scaled in after STC 60, exiting around 60 close. bulls want sec entry for SCX and failed bear BO / 2 legs up test of bottom of range. another nested ET (61,62,63,64).
66 60 bears held for original SP. bears want 60 MG, poss MG on HTF.
67 2BR for CC SCX and 2 legs up but largely overlaps prior bar. ok swing, but BTW for sec entry. 60 mm tgt not far below.
70 reversal at 60 mm tgt. ok swing buy
Today was a large trading range day with failed breakouts in both directions, ultimately resulting in a successful bear BO and mm down. Interesting price action with several nested expanding triangles within a large one over the course of the day.
Best Swing Trades
32 large low 2 / BCX after first break of bear channel from yest. also 2EMA gap bar.
44 wedge bottom, DB with 16 and failed BO to new LOD. weak SB but decent context
56 failed bull BO, ET bear flag continuation pattern
70 CC SCX, variant of sec entry (67)
Best Scalps
34 failed high 1 top of TR,
36 SA weak high 2 or below failure
48 weak low 1 after reversal and AI flip
Other more aggressive scalps; SA 55 weak high 1 top of TR, BB 61 weak low 1 after SCX, 73 weak low 1 after CC SCX and reversal
Trades I took today; sold small pullback from 35 close but stopped out above 41 (should have relied on BE stop after not exiting with SP on 40, original tgt SP but increased tgt to new LOD). bought below 48 weak low 1, exited 2/3 pos at SP on 51, stopped out BE remainder of pos on 52. Bought again above 52 for swing, exited most pos with SP on 55 when swing profit not reached during 54, stopped out breakeven on remainder during 57.
Open: bear trend from the open failed. small bull channel from yest low, no strong reversal so prob bear flag. TR forming on 60 min. prob TR with yest low and 82 DT bear flag. likely heavy two sided trading and some form of TR day.
19 small bull channel, AIL. but bulls need strong BO above yest 83 for bull trend day premise. bulls want 18 MG.
20 swing short for wedge bear flag (9,14,20) or (96,1,20). but not much selling pressure so reasonable to wait.
22 big outside bear bar, bears defended yest 82 gap. want broad bear channel from yest 64-82-22.
25 2BR for BOPBS of bear flag. ok swing short for test of yest low.
26 good bear EB, likely AIS or soon. bulls see as 2 leg pullback and want higher low.
27 bad bear FT, large failed low 2 / high 2, but buying high in suspected bear flag, poss bull trap.
28 good bull EB, bulls want test of 21 close after scaling in.
29 bull BO to new HOD, weak (tail), found sellers / PT. bears still defending yest 82 gap. within bear TL. ET bear flag swing short (16,17,22,27,29).
33 sec entry for another ET setup. bears want BOPBS but disappointed by with FT.
34 low 2 / BOPBS / failed bull ET reversal. bulls should exit below.
36 bears exited 30 close. bulls want failed low 2 and bottom of TR.
37 bull BO bears gave up, low of TR.
38 last of 30 bears scaled in, exited BE on entire position. poss weak bear channel from 22-29 but more likely TR.
41 bulls lacking strong FT from failed low 2. nested converging triangle within larger CT. both sides fighting for FT. middle of TR, 50/50 DP. BOM. NA close of next bar poss catalyst.
42 outside bear bar, wedge bear flag / low 4 off bear TL. kept 30 gap open. bears need FT selling.
43 back to back failures. LOM. BOM continues. bears want spike (30) and bear channel.
44 another outside bear bar, failed high 2 off bear TL.
50 parabolic SCX, sell vacuum test of bear TC. 2 legs down from 30, reached leg 1 = leg 2 move based on 30. 47 poss MG.
51 2BR for SCX and failed BO to new LOD. ok swing buy.
53 sec SCX to 47 mm tgt, test of yest low. bear TC overshoot, strong bulls and bears likely BTC. potential for good swing buy soon.
55 no strong reversal yet but decrease in bear momentum. broader bear TC from yest not far below, prob test before reversing.
60 reversal off bear TC
Today was a large TR day, but also a weak bear trend day with a strong bear micro channel. There is no telling what may happen or how the day will end up with the FOMC announcement, but more than likely will remain a large TR day.
Best Swing Trades (up until 130)
29 ET, failed BO to new HOD and 2 leg test of bull trend high.
42 large low 2 / low 4, lower high and BOPBS from 30.
Best Scalps
BB 32 weak low 1 after 31 reversal and ET bottom.
44 failed high 2 off bear TL
46 BOPBS from 43 failed high 2. also a variant of a failed wedge
BB 62 weak low 1 after CC SCX and reversal
Other more aggressive scalps; SA 20 weak high 1, 48 weak reversal attempt after bear BO
I made a few mistakes today which cost me, but still recovered most of my losses (I scalp with a larger position than my swing positions). Unfortunately i have to end the day early so wont get to try to make it up during the FOMC announcement. Trades I took; 25 sell for swing short. stopped out at 10 pips on 29 by less than 1 pip before prices went in my direction (I like to call this "Bull Shit!") Sold small pullback during 31 and did not exit during 33 or 36 when i knew i should have, stopped myself out with loss during 37 since was not willing to scale in after the failed low 2. Shorted again below 43 failed high 2 and exited during 51 after 50 SCX.
So quick update on my side, I put too much pressure on myself for the TST FTP test so I haven't done that well this week to date, mixture of overtrading and FOMC report greed trade. However, I'm now a little positive on the account overall so looking to improve moving forward.
I'm trying to improve my entries and had some questions on your best trades.
Using the following two examples from 5_24_17:
1) BB 32 weak low 1 after 31 reversal and ET bottom.
Question - after the 30 bull reversal bar - I was thinking either to put a stop below 30 so sell a higher low. At what point would you have entered in a buy (am i right on this one). As 32 was forming or once it was done at the 5 min mark. Where would the entry have been - below 32 - to have gotten filled on 33?
2) 44 failed high 2 off bear TL
Question - Where exactly is the high 2 - 42 and 44 - the bull/bear/bull/bear combo? On what bar would you have entered in this situation? When this bar was occurring I was not ready to buy at all
I guess my questions have more to do with entries - are your numbered bars the entry locations or where you place a limit above or below that numbered bar?
Sold small pullback during 31 and did not exit during 33 or 36 when i knew i should have, stopped myself out with loss during 37 since was not willing to