Here is a zoomed out view of my 5 minute regular trade hours YM chart. I'm going out to enjoy my life. Have a great day all!

Flag trading the trend

On my chart, I only plot the regular trading hours price action, i.e. 9:30 Eastern to 4 PM eastern. I do mark off the globex high and low prior to the open. Those levels are often good for trades at or near the open.

Flag trading the trend

Yes D. Love the 5 minute for keeping me on the right side of the market more often than not.

Flag trading the trend

Hit the 17050's target and soon for test of Friday's 17028 low. A break below there that does not soon reverse higher would put the YM on crash alert status for hundreds of ticks, imo. EDIT: Friday's low trades, so targets of +50, +100 and +120 in ...

Flag trading the trend

Testing low of RTH session. Break below and hold would make for a target of 17050's and then Friday's low. My position is short, my stop and targets are in, and I am going out. This trade is in God's hands now.

Flag trading the trend

Short break trade

Flag trading the trend

In my experience, the closer to the end of the coil itbreaks out, the less reliable the breakout can be; and if it just sort of dribbles along past the end, then the day could just chop most of the afternoon.

Flag trading the trend

Similar to Friday's opening coil/wedge. Need a breakout to set a trend for the day, imo.

Flag trading the trend

I traded a one lot all day Friday, so it was 114. Had most of my account tied up in ZB. 50 ticks/day avg is doable. I just find that that means one day I'll get 75 and the next day only 20. Always best to take what the market is offering rather than ...

Flag trading the trend

I use the ATR during RTH. Unless you are trading 24 hours/day, you will see range contraction during the US hours of 9:30 to 4 PM EST.

Flag trading the trend

But that is the exception, not the norm. There are times that the Dow's range will contract for long periods of time into a 100 tick or less range. ZB is another where trading four contracts and taking 3, 5, and 8 tick scale outs with the last lot ...

Flag trading the trend

A moving average can help. I often keep one on a chart as a quick reference and to keep me from doing something I shouldn't do. But trend is simply is the market making higher highs and higher lows? Then trend is up. Is market making lower lows and ...

Flag trading the trend

When trading 3 or 4 contracts, I like to enter all in and scale out, e.g. I might take profits on the first 3 at +15 +20 +30 and then let a fourth open with a +100 limit order out there but trail the stop 20 points behind. But context and current ...

Flag trading the trend

I trade 1-5 depending upon the set up, context (proximity to S/R) etc. While I do not get slippage on every trade, I have gotten 1-3 ticks of slippage on a stop entry order on just 1 contract. I tried stop-limits, but too often I don't get filled at ...

Flag trading the trend

My two main traders have been the ZB (30 yr bond futures) and the YM. Today was a nice day for me on the YM as well: 114 ticks. She's thin, and I get a bit of slippage, especially when trading multiple contracts, but its all good in the end. I use ...

Flag trading the trend

Nice, jtrade! That is an awesome idea. Thanks for the share. I use candles for range charts, but I will often use ohlc on time series charts, e.g. 5 minute, 15 minute.

Flag trading the trend

I've used range charts for years. I have always used candles. However, since finding your thread here, I have started to keep a line on close chart open next to my candle chart. I trade based on the candles price levels, but the line on close chart ...

Flag trading the trend

Very true. Nice post!

Flag trading the trend

I have skirted around this issue in my few posts to this thread. The price action principles are excellent. The ever-changing attempts to figure out how quickly one can move their stop to break even or +1 tick are instructive to all who continue to ...

Flag trading the trend

Yes, that video and both of his books: The Disciplined Trader & Trading in the Zone. His work can help guide one along a path of serious introspection which, if pursued with an open mind, can greatly aid in the development of the trader's mindset. ...

PVSRA (Price, Volume, S&R Analysis)