Plan the Trade

I don't really want to bear the wrath of JT with any EW postings, but just to try to clear up the 123's which go on to fail with the aid of a picture;



Ok, so you'll never see a chart so uniform and clean, but basically that is a 5w count. The main pullbacks (corrective waves - 2&4) will usually be in 3w (abc)

Now - this 'abc' also looks like a 123, that triggers, except they then fail, as the return to main (impulse) trend resumes. That's why it is best to place orders at (or immediately before) the prior S/D zones. That way you should get a reaction, enough for safety at least.

Again, nothing is set in stone, but they are not failproof, by any means. Well, no-one ever said that it was easy!)

Just realised that i had indeed already got a fib level at the top on my chart (i forgot you're looking at the 4H), although it might just be a reaction off of it;

(Weekly)



and the plot thickens on the 4H;

I remember the conversation well you were struggling with the EW because of all its complexity

Yep, I'm happier back trading the NQ, there's something about the way she trends. Like no other Index or pair.

It can rip you a new one or you can rip a new one lol

Google mptm ea

my morning always in demo

Thats fast posting!

I wouldn't have taken that first 2b pin bar takes out low

I just marked up my chart showing the three good trades I missed plus the five b/e trades I took (net -2), but NinjaTrader crashed as I took the image (most unusual), so I lost it & can't be bothered to recreate my work of unsuccessful art.

Hope y'all did better.

PS. On days like this, if I'm feeling fresh enough after dinner, I'll often watch the last hour of the session into the Close : sometimes a really great trade sets up... (but usually only the one, so easy to miss). The thing about the last, as opposed to first, hour of the day is that all the day's S&R is clear to see.

Some Wednesdays are good most are bad

I'm rusty as hell and made a right hash of things again, although like yesterday, finally got a handle on things and made amends.

Firstly, the trades;



And now some reasoning behind the winner and i'm sorry but there is a little EW combined with market structure, although i missed the clues until late into the move;



Basically i should have sold the red line at the top, however, if i had got filled there, the first time on the pullback, i'm quite sure i would have been stopped out for +1 as i was looking for the target of the valley high (green line down below). I've realised that i have to trust my EW instinct and that may mean sitting through some uncomfortable pullbacks along the way, if i want to hold out for the bigger gains. When there is some impetus building... that is the time to chase candles...

*Edit* i've written 'valley' in the charts, i meant 'Volume Value high'


Finally she starts trending nicely. I was busy writing the above post, as i feel like i'm done for the day, but if i had just persevered for a few minutes longer, i would have taken the arrowed trade for sure, especially, like i say, i expected the top of the value area to be tested at least... That would have been a nice +48... grrrr

That also was demand earlier that pt 3 of 123

What makes them bad?

Oil inventory

Nice trading guys. No trades for me. I was extra cautious today as it is Wed. and thought we might be slow this AM with FOMC statement is afternoon. I will take a look at it again then. Maybe we will get some good moves.

So, progress i feel, but a long way from the finished article.

The feeling of relief after turning a badly losing session into a plus, brings euphoria. Enough to make me want to stop trading and yet, i had only just worked out the roadmap.

That's when to go for the jugular!


There's some really canny stuff with Market Profiling.

I keep a weekly chart up just for a look at from time to time, watching the bigger picture helps me to recognise sets or cycles.

Have a look at this chart - the weekly NQ with Volume profile;



Viewing it that way, it is so easy to see where the volume comes back into the market. Look at the reaction off of the weekly Vpoc!

Now take a look at this - the current day chart and Volume profile;



Yep, both Vpoc's at exactly the same point and also exactly where we reverse...