No setups yet, but looking for weakness. A pullback as far as the dotted trendline is still a short bias, so there's a wide zone I'm looking at. I'll post if/when it develops on the H1.
As mentioned on the chart, this is NOT a swing idea, and it's a totally different trade if there's a gap involved.
The support zone is tight, which I like for a daytrade. There are 2 clear levels where orders are tucked (past the yellow zone and past the dotted green line.
IF we get nice buildup ahead of the yellow level break (which is what's happening so...
Tradingview won't let me post the timeframes I'd like to, so please do check out the 5m for a beautiful picture of the breakout failure @ A and the subsequent recovery + breakout @ B soon after.
Hit me up with any questions.
Here's the setup on the H1.
Apply this to any time frame. If you're using important levels and trading at the right times, most healthy breakouts involve some version of this shape. Strong, confirmed breakout with a clear close past the level, a weak but steady pullback to the level, and then an immediate fail at support-turned-resistance.
This is the type of context shift we're looking for. The breakout bar shifts us from analysis mode to trade hunting....looking for lower time frame, healthy PBSR to risk off a level retest.
See comment for H1 ideal entry.
(These are not trades I took, I'm just building a solid study library and I suggest you do the same).
Update to a previous post I made about the CL level breakdown.
Bias remains short until proven otherwise. Flat, no clear entries for me until tomorrow morning when we look at premarket price action and range.
Yesterday's trade posted to twitter. 11.25R despite mismanaging the hell out of it.
It's imperative you learn to take wholesale entries, understand...
Context doesn't mean blind entries.
Primary level has been attacked and seemingly pushed past. I'm looking for weak pullbacks on the H1 for entries short.
Trade idea is invalidated if price pokes back up over the level.
When you have your eyes consistently at the same important levels (preferably horizontal ones), you'll quickly see the difference between a buildup that creates a powerful breakout vs a breakout fail / trap.
Naked run ups like this can be scary to get in front of, and it's not a straightforward entry, especially if you're executing on the H1. But this is why you...
I'll post my Ninjatrader charts for trade entries. This is the kind of setup I want to wait for vs fighting the grind on NQ today.
I'm a momentum trader, and momentum comes from traps and/or tipping points. I don't want price to ever come back to my entry and I don't believe in wide stops.
Before taking entries, ask yourself about the market state. Is it...
See chart for relevant explanation.
These two levels offer clear markers we can use for context relative to the D1 wedge berak.
The eventual break of A looks great in hindsight, but wasn't a great breakout setup. B provided a much stronger story, and exactly the sort of price action we're looking for ahead of a breakout.
I'm borrowing directly from Bob...
