eminiman414

Could a second "best" entry be a part of the strategy if the entry on the lower time frame is missed. So for example you miss the HL/double bottom you have drawn, say you miss that, could a part of a strategy be taking a break of the HH on your daily chart that you have posted? If it still makes sense to do so based on price movement.

I appreciate the response. My only concern with using the smaller interval is missing the entry since I wouldn't be watching that specific interval. Could chasing the trade come in to play? That is my major concern. What do you think?

I have to swtich to EOD analysis. Is the process the same as intraday? Longer intervals for s/r and shorter for price movement. So would EOD be looking at the weekly/monthly for levels and daily/60min (or something) for price movement? If I can only devote a short amount of time for analysis would looking at a shorter interval 15min/60min etc be advisable if one can not watch those intervals in real time? If trading EOD would watching the "shorter" interval cause possibly more confusion or the possibility of "improper" entry or exit according to the daily chart? Hope that makes sense. If checking a shorter interval is advisable and encouraged which one would be more appropriate. I'd assume watching a tick chart wouldn't necessarily have much relevance to the EOD trader. So how far down in intervals is too far? note: I do understand the movement/behaviors is more important then interval in which one views it, but I am just asking to create some sort of structure. A structure that I began to develop with intraday trading.

His timeframe is higher, but follows a similar sequence of events. At least from what i've gathered it seems relatively similar.

Due to work obligations at the moment I have to move my trading to longer timeframes. I am wondering how this is going to go not seeing the 1t chart. I really enjoy watching price move on it. I know that price moves independent of my chart interval and I have learned a lot from viewing it, but I am wondering how the transition will be. New timeframe will be 15 mins to daily. Feeling a little down because of having to switch as I was really starting to get the hang of it, but gotta pay the bills i suppose. Going to study the trend section of the wyckoff course again, review thalestrader's thread again, as well as all of the EOD analysis in the wyckoff forum.

Have you checked out Thalestrader's thread. I feel some similarities between the both of your methods.

Quick TIF before bed. Post some more thoughts in the morning. Blues long, shorts red.

Figured it out. Thanks for the response.

Anyone use Ninjatrader? For some reason after we moved the clocks ahead my replay function has not worked. After I download everything the day usually starts at 12:00am of that day, but now it starts at 11:00pm the night before. I assume bc of the time change? Been trying to find a solution but nothing seems to be working.

I just rolled over so I am adjusting my levels

DB, what keeps you from getting in too early when watching the 1 tick?

I stop in. Have seen most of your Russell videos as I am interested in the Russell.

My focus is still on the 2820/15 or so area. Keeping an eye on the sideways movement we are seeing between 2790 and 2809. Potential plays I see are shorting potential R at 2820/15 being aware of what happens if price gets back to 2809 or 2800. Going long at the break/test of 2820/15 area with the possible potential to hit the bottom of the range from 9/14-9/25 at 2832/34. Finally a possible long at 2809 and observing behaviors at 2820/15. Is it safe to assume a slow week given the expiration date?

Maybe I didn't properly convey in words what I have been pondering in my head. I didn't necessarily mean to go through the process i described above to find trades but to learn more or get more experience dealing with price action/trader behaviors. Calling it a back test was probably a poor choice of words. Maybe explaining what I am doing now and re-wording what i said before would help. Now for example, i find the range the way that it has been describe in the forum. I watch the 1 tick chart along with a 1 min chart with volume. I watch the ebbs and flows, waves, intensity/pace/interest, sl/dl breaks/changes in stride/momentum etc etc. I make my notes. Later in the day i review my notes and the static charts in hindsight. Following that I do a replay of a different past day and go through the same process to add to my daily screen time. I know this process will take time and I have only been viewing the 1t chart for two weeks consistently or so and I am still finding it difficult to pick up on what exactly is going on or at least i'll say im not 100% confident in what I am seeing (that's probably a better choice of words). Sometimes it's obvious however. One example of it being obvious was I believe friday price a little after the open hit the high of the day which was also near the midpoint of the range i had. It hit that level and didn't budge any further. It literally looked like price was hitting a brick wall and bouncing off. It did that 3 or so times and it was very apparent to me that price would reverse and it did. Now with that said, what I meant by my previous post was more along the lines of replaying a day when price is at an extreme and see what goes on knowing already what the end result is instead of doing a replay and not knowing what to expect. I've been doing replays as if it was a completely new day. Re-reading my previous post I think that printing out static charts is an unnecessary step. So an example. Look at a 10k cvb chart of the NQ. On 1/30 price hit the 50+ level/zone that we recognize as a possible area of R. Let's replay that day observe price action/trader behavior on the way up to R, at R, and as sellers move price away from R (DB said this above and i recognize you can not just wait for price to get to a level then pay attention). Make notes on everything I see. Do this same thing when price makes its way down to S or do it again the next time price gets to R. I'm thinking that maybe knowing price will definitely reverse/breakout & retrace and then move at these level will help to better illustrate these points/principles. Example: I know price hits x and x is r and once it gets there it reverses back to the midpoint. Well lets watch and see how this all came about. ohhh i see price opened near r with intense activity on the tape, smashed into r and didn't budge, powerful spurt down, smashed back into the wall again, spurt back down, smash back, spurt down, then a lower high and reversal. Hmm well that makes sense as to way price went back to the midpoint. Sellers would not give up ground. We know also price stopped at the midpoint. let's see why. etc. etc. Do this for let's say a years worth of data and compare the notes. Make categories. Reversals at R, reversals at S, etc. like described in my previous post. I want to do this as my career and I do not want to limit myself. I feel like having one or two "setups" is almost limiting but having a deep understanding of trader behavior, how price moves, where it's more likely to move to next, and where the "best(greatest probability of success)" places to enter a trade would be would be all one really needs. I guess I am more interested in the intuitive side of trading then the more mechanical type of approach. Does my previous post make more sense now or did i just get in too much exercise and coffee today? Does it make sense to go thru a process like this or should I be spending my time doing something else that would better help me learn?

questions or maybe thoughts on backtesting/strategy development and the wyckoff approach. Not sure if what i am planning to do is considered "backtesting" but i'll just call it that. Since reading everything in this forum over again I have decided to only take trades at the "extremes" that being the tops/bottoms of those trading ranges that we find and utilize in this approach. Trading range not being just any sideways movement but where traders are testing a level repeatedly and price reverses to the bottom and back and forth and so on (for example that range we saw at the beginning of this year in the NQ). Now instead of sitting and watching price move and saying something like ok I am seeing a sl break on the 1 min and a double bottom on the 1 tick at support as something that tells me to go long (just an example) I am thinking of reviewing those ranges over the year, finding those tradeable extremes, finding where price reverses, and where price breaks out and retests that level. At those levels check out my 1 min chart and the 1 tick chart at the specific points of reversal and points of break and retest, print them out and see what price action looks like at those times. So then we have two categories reversals/retracements. In those categories classify those charts we have printed based on similar visuals the price action is giving in those snaps shots (could be double tops, bottoms, small trends, whatever). Group them together in that section based on the "success" (being how far price moves after). That would be part one. Part two would be to take those days that we classified based on the PA visuals and replay them. During the replay take notes of the behavior of buyers and sellers during the day leading up to the extremes, at the extremes, and after the extremes. Attach those notes to the charts we have printed. Compare them and see what we get. See what I like, see what "feels better" see what I understand and what makes sense and doesn't make sense in my head obviously sticking with what makes sense. Trading at the extremes will already filter out some trades, maybe some that would work out, but most that would probably not work out. Now instead of only trading double bottoms at these extremes (just an example) I want to be armed to make a decision at these extremes without only having to see one particular type of action so to speak. Does that make sense. I guess what I am trying to say is i do not want to miss opportunities at these extremes because my one particular "setup" did not come thru. I will be patient enough to wait for the extreme, so once we get there I do not want to miss an opportunity that presents itself. Another thing to look at and observe/print/replay and note take/classify are those moments when price looks to reverse from let's say R, but then turns around and breaks out. If you want to call it conditions under which you would fade that movement and take the other side. Looking at this for both reversals as well as what appears to be a retracement but turns out to be that reversal. The final thing to look at would be when price fails in all of the above and look at all of those conditions as listed above. The reason for this post is I am thinking a lot about my screentime. I watch price move and I make my notes but I see different behaviors at specified levels almost everyday I watch. If price gets to an extreme and I see something that I have seen before thru this backtest/study or whatever you would like to call it I feel there would be a whole other level of confidence. Like hmm i've witness this similar type of action 10 different times in my backtesting and nothing but a bunch of fakeouts happened so I'll stand aside right now even though I am at a tradeable extreme. Is this a good idea? Or would this turn out to be paralysis by analysis. I find myself almost searching for a "setup" when it dawned on me that If i want to trade these extremes well lets see what happened previously at extremes that have happened over the last year, study it, replay it, make notes, so when price gets to a current extreme I can say a ha i've seen this before. Like Sherlock Holmes of price action. Sorry for the long post and thanks for reading. I appreciate all of your thoughts.

Also I am thinking of getting a tape recorder and instead of furiously hand writting everything just talk out loud and record it. I can write it out later. I dont want to lose focus by writing too much.

Nice! I'll take a look at those charts. I have been using a 1 range chart also which I sortable use as my "wave chart" it gives me pretty much the whole day and at the open gives me most of the overnight as well. That w the one minute chart gives me what I need for now. I find the 1 tick extremely fascinating and I like the continuous flow. It helps me get into a rthym almost whereas watching any other interval I find myself asking what's going on. I see the ticker stop on the larger interval and wonder well is it really stopped or is price moving sideways. Don't know if that has any relevance to my trading just yet but I just am fascinated by the 1 tick.

Didn't post my foresight analysis last night as I was at the Ranger game. My intial plan was going long at a break/test of 2809. That break happened when I was waking up so the new plan was to short the 2809 area or the 2815/20 area based on trader behavior and looking for price to come back to the midpoint. Typing this is obv hindsight for you all to read but I had it down on paper at my desk. I am posting a 1 min for context and took notes on what I was observing on the 1 tick chart which for the purpose of this journal I call the tape. I am typing my exact words as these were real time notes, that I myself will review later today. 9:30-9:45 buyers began to move price up however the tape was slow. Buyers just did not seem to have the steam. Sellers came in and moved price down to 2809 and continued to move price down with no opposition from buyers. Buyers then moved price up to 2809 but the tape was very slow. I entered my short at 2807.75 with my stop at 2810. At one point, I do not remember exactly when I start to get very suspicous due to how slow the tape actually was. I have never seen activity this slow at this time of the day so I exited for no other reason than I was very uncomfortable. No gain, no loss. 9:45-10:00 Sellers eventually moved price down to the prior days high. Price moved sideways there for a bit. There were a few "harder" spurts down by sellers and hardly any reaction back up. Led me to believe we were going to continue down. Sellers started to increase the pace (still slower then "usual" however) 9:48: price is moving sideways at 2800.50 which is near the midpoint of the range btw 2780 and 2815/20. 9:50: buyers start to come in and push price back up to the prior days high and break the supply line I had drawn. Realistically this should have been my exit. 9:52-53: Buyers seem to be showing strength but the tape stops dead and again sellers come in with a few quick spurts pushing price below the prior day high. The spurts seem more aggressive then the whole upwave that brough price back to where we are. (this could have been a good place for re-entry....hindsight of course) 9:55-56: after the "more aggressive" spurts sellers slowing bring price back to 2800.5 and then the swing low is broken showing. 9:59: Small buying wave but again tape stops dead and resumes downward 10:00-10:15 2798 hit, speed picks up as price moves down through the midpoint and approaches low of day. 10:02: buyers move price back up to mp but tape even slower and less intense. 10:04: still at the midpoint and hesitating. Price moves down but then makes a 2nd attempt at the mp, this time it was a bigger upwave. 10:07: again no real intensity from buyers and sellers move price down to hit the low of the day. 10:10: new supply line broken but no real intensity from buyers on the break. Sellers again move price to low of day. 10:13: sellers still in control 10:15-10:30 Tape again is very slow. Buyers push price off the low of day. Prob the second biggest push by buyers so far today. 10:17-18: again tape stops and sellers bring down price but at the moment make a higher low. Tape is making higher lows all the way back up to the swing high. (buyers taking control?) 10:20: swing high not yet broken and then broken 10:21-24: buyers move price back to the midpoint from the low of day. Price is hanging around the mp. 10:28: tape still again very slow however buyers continue to move price up. There seems to be no selling interest at this time. That is my notes from today. One point that was very clear today was the fact that price can move on low volume as DB has stated. Tape was slower then I have witnessed before and the volume was low yet price continued its journey to the low of the day. Thanks for reading and please as always any and all comments are welcome. I did not post the tick charts as I feel there would be too many, but if anyone is interested in that I can start to post up those charts that are associated with the times or maybe more "important" times in my notes for a clearer picture. Let me know.

So you are using the 30 tick for entries? So the breaks of the sl/dl are on the 30 tick? For a long u look at a break of sl then a higher low and entry would be on the break of the swing high w stop placed under the higher low? You trail the stop under swing lows until stopped out or does a break of a dl come into play as well? You are looking for this around s/r for a higher probability correct? Last question on the original break of the sl does that swing high have to break any previous swing highs before the higher low? Just getting a feel for what u do so I can follow along. I think its an interesting strategy. Thanks

Interesting strategy. Did you ever look at 1 range bars? What's your exit/stop strategy, if you don't mind sharing of course?

No trades today. My plan was a little wishy washy and did not feel too confident so I sat back and watched.

I will try to bring my focus to those more important zones and not just sideways movement so to speak. Another thing I am going to do is begin to break my analysis up into 15 minute blocks from 9:30 to 11:00. I did this today and time flew by and for whatever reason I was able to maintain focus a bit better. At this point I'm only getting in about an hour since I switched to the 1tick chart. Once activity starts to slow my mind tends to drift when watching it. As of now I am sharp until about 10:30. I have attached my analysis on the 1 min chart. Nothing crazy today just some things I witness and thought were interesting when I observed them. I have attached the tick chart associated with a few of the areas. I have noticed that the tick chart and volume on the 1 minute chart kind of go hand in hand. When the pace of the tick chart slows when I look at the volume on the 1 min it is declining and vice versa. This call makes sense as volume is transactions and the tick chart is transactions just never really dawned on me until today. Watching price move at the open at area A in my chart was the most compelling move for me today. First chart is a 1 min. First tick chart is area A, second is area D, last is area E.

I am going to see what happens in the overnight and reassess in the morning. I am interested in 2790 after that I am looking at 2780 to 2815-20 w 2798-00 midpoint.

So quickly I use 100k/10k/1k cvb to located ranges/zones/areas of interests or whatever term you wish to use and plot as S/R. I also use a 1 tick chart used as my "tape" to observe trader behavior alongside a 1min chart with volume so I can view the relationships between price movement and volume (effort/result). At times I also look at a 1tick range chart or for the NQ lets say a .25 range chart which helps me to keep track of the waves associated with the 1 tick chart because sometimes I only get a minute view of price activity on the 1 tick chart. Trying to follow the basic approach that has been outlined, discussed, and still discussed within the Wyckoff forum. Attached are charts with the areas I see an interest in. The first cvb chart I see price broke that "macro" zone breaking the 2780 level. An area of interest below price would be the range from 2/8-2/21 from 2756 to 2780 with the midpoint being 2768. The second cvb chart shows the macro and micro zones to which price has now entered. Initially I am interested in the range from 9/27 to 10/5 from 2770 to around 2815-20 with the midpoint of 2793. The third cvb chart shows the last two days and how it is forming a "smaller" range from 2790 to 2809 with the midpoint at 2800. I do understand that these areas are all "potentially" support and resistance and we will not know until price gets there however this is where I find it slightly more difficult to develop a strategy being that the levels i have listed are 2756, 2768, 2770, 2780, 2790, 2793, 2800, 2809, 2815-2820. Seems to be a lot to look at but I do not think these levels are too far off from what may end up being a sound level. My question then is does one just focus on the immediate smaller range being that from 2790 to 2809, or should the focus be on the previous range from months ago that being between 2770 to 2815-20 since that's the zone we have now entered from previous months??? If one is to focus on this smaller area there really isn't much room for price to go before another potential area comes in to play. According to my levels anyway. Note also I am not trying to scalp for ticks etc. Since 2793ish is a midpoint of one of the ranges I am focusing on and price is about 2790 at this point, should that be more of the zone I am focusing on. Today I was focused on 2780 to 2815 with the midpoint of about 2798. No immediate plan tomorrow as of right now. Maybe I will get some feedback to all of this and in the morning have something better developed.

I will start my log this evening. I'm excited! Thanks!