Mr. Hyde wrote:Mr. D wrote:Mr. Hyde wrote:
Reviewing MO's post and then observing how the vets on here applied his idea's is the single best thing a trader can do in my opinion. 99% of my trading is zlines and super basic price actions setups. Find a idea that you can trade day in and out and then master it with as much live chart time you can put in. Observe, make notes and make money. Good luck. Feel free to ask me anything.
Good to know because that's exactly what I am trying to do and post in this thread. If you can share feedback, that would be great!
When you write about "super basic price actions setups" which ones do you have in mind?
This chart on the ES today is literally 99.9%. !st trade is a zline. 2nd trade is a pole trade (my favorite trade after zlines). You measure the move into the congestion which looks like a flag or rectangle. Then that give you your target. 3rd trade is just breaking S/R and retesting it. Depending on if price makes my final TP I should make 30-40 points today or about 20% give or take. there was also a flag on UC that Im into. Plus a few other trades. Should be a good day.
I'll post some other charts to that show the rest of my favorite trade setups. They literally have all happened within the last week or so.
You can see the pole on the UC worked out nicely. I also included the 4hr chart so you could see my longer term reason to be in it. Its a topic that Dragon mentions. A high/low failure. Pretty much you have a candle make a high with a wick and then the following candles can't close beyond that high. So then I look for a candlestick pattern to get in and look for a zline to target. Also I will throw fibs on and see if there is any confluence with S/R that may cause price to bounce. Super basic and super easy.
These past post are literally 90% of my trading. The one trade setup I haven't thrown up yet is a 123/TTE (traders tick entry). There are 2 perfect examples, one on the 4hr chart of AU and one on the 4hr of AJ. Im in both of them.