Recent content by steven46

Today's open and first trade entry As seen in the chart, the market gapped up and ran. This would have been easier for retail traders to see using 15 min candles The problem for retail traders is that because they lack experience, they do not know that a close above the 1st SD confirms the...

Absent any participation from readers, I will offer one (1) more item MAGNETS Magnets are significant short term targets that institutions and commercial traders use to help them decide whether to orient to the long or short side initially. On the open, price can display one of three possible...

With this next post I am going to take a different direction. I am going to ask readers What are the three (3) issues about trading that you find most frustrating?

Here is my last chart showing the Euro/USA "Overlap" (what I call a "time based pivot") As I have mentioned previously, this is a time when Euro based institutions and other commercials are closing books. I show my chart using 5 min candles. When training others I run both 15 min and 5 min...

And here is a chart showing more of the same with markups showing reasonable entries and exits Notice the horizontal lines marking the high and low closes, then later, when price retests, we have points of entry already setup for us. Using this system, we have enough time to recognize when...

For this post we suggest readers refer first to the previous post, where we display our recommended setup for beginning or struggling traders. On the left we show a daily chart and the red line is the VP/POC. The important thing to notice is that the red line (POC) terminates right next to the...

Here is an example of the chart market we recommend for retail traders. The display shows two (2) charts, on the left we have daily candles framed by a monthly VWAP. You will also see a red line at the middle of that chart. Currently it is showing what we call a "Symmetric" market, meaning that...

Today's Chart Markup This was an easy and obvious chart to trade (for me) however several struggling traders watch me work, expressed frustration at the difficulty they had anticipating reasonable entry. We attribute this to lack of experience, and suggest to all new or struggling traders that...

While waiting for economic reports to be released (in 15 min), I thought I would post this weekly chart Longer time frame traders use this to trade options The pattern is simple. After a significant trend move price breaks down, below two important (2) "Key References" When I say important, I...

Integrating trades with economic reports is part of the training that a skilled person should obtain in order to create a sustainable business model We create a "look ahead" schedule of high impact reports at the beginning of each month. We create scenarios (long & short) based on the best...

Getting to sleep early this evening so I will post this "End of Session" chart. I want to point out the following 1) It helps to use ETH charts. As seen in the attached example, it is often the case that we can extend lines from the previous to the current session, and when combined with...

This will be my final post today As can be seen in the chart attached. The POC/VWAP relationship has changed such that we now have a developing long bias (and 2 bar reversal in progress) So far this morning we have a successful short entry followed by a potential reversal and long entry above...

And this chart shows the transition, shortly after the US open from ETH (Globex) to RTH and from 15 min to 5 min Candles This is the framework that I use. As was previously mentioned I recommend that retail traders stay with the 15 min time frame as it will keep them out of trouble, preventing...

Profit Taking on the Open

As seen in this chart, the prior session high profit target was obtained just prior to the US open. Once again, close to +10 pts for traders using aggressive entry and holding Typically this next bar (prior to the open) will be a profit taking pullback