Trading the Storm - Methods for the Struggling Trader

[Trading the Storm - Methods for the Struggling Trader]

 

Trend remained down until this morning with the upward formation that began last night around 17:02 cst.

 

 

The only thing I can see is that it should have been more specific and said.

 

"Trend remained down until this morning "when there was a close above" the upward formation that began last night around 17:02 cst.

 

That's all I can see

 

YMoca

[Trading the Storm - Methods for the Struggling Trader]

M

 

First of all thanks again for starting this thread.

 

Now a few questions.

- How do you determine whether the first trade for a new week will be long or short?

- Do you take the set-up off of the 1st intention move?

- Do you wait for an overall trend to form, and then look for the 1st opposite signal?

-Also, when the market gaps open like it did Sunday night, do you count that move down as an intention move?

 

just wondering how you would have traded last nights/this mornings action.

 

Thanks

 

YMoca

 

[Trading the Storm - Methods for the Struggling Trader]

OK I'll take a stab at today's question.

 

My answer is B.

 

At Point A there was still no close below the intention move. The next bar after A closed below the intention move so you should short at B.

 

That my guess anyway

 

Cheers

[Trading the Storm - Methods for the Struggling Trader]

Hi I've been following your thread. Thanks for sharing.

 

I get Zenfire Data through my broker.

 

Just a heads up to you, my chart does NOT show a close below the formation yet.

 

This is a chart from about 7:33 am Eastern

 

[Futures I Trade Show & Brooks Book]

Hi,

 

Just found this thread and am in the process of reading Al's book and learning his setups.

 

The book is definitely a tough read :bang head:

 

Here's a few other articles I found by Al written for Futures Mag.

 

Cheers

.

Breakouts and Micro Trendlines.pdf

Failed Flags.pdf

Price Action Fundamentals.pdf

Price action lines.pdf

Reversals.pdf