Gamera

No trades from the previous session. As for the daily, PA is recovering back to the MP of the TR, volume calmed down a bit as price recovers, trading might be choppy as PA moves through the MP of the TR and drop from Friday.

Was away and missed the trading on Friday and Monday, higher time frame prep for the day ahead, PA on 1 minute grinding higher but no exact levels to prep on.

Prep for the day ahead, PA is still within the UL of the TR for the time being.

Activity for the previous prep, just the one trade as I was unable to hang around afterwards.

No trades for the previous session, daily seems to be struggling at the UL of the trending range.

Prep for the day ahead.

Given the direction the market went and the trades I took, a pretty bad day results wise. I have spent most of the weekend chewing over trade 1, the DP on trade 1 was close but intact, I exited the trade as price was not really moving away from the LL as I expected, it brings up the issue of whether my expectations are realistic or if I was lacking in patience. My thoughts on dealing with this are mainly to leave the trade along until it gets to a possible turning point and look at the behaviour then, if trading a range wait for the LL, MP or UL, if PA is trending wait on swing points etc. Easier said than done though.

Prep for the day ahead.

Only 1 trade for the day, ended up watching as price spent the day recovering from the morning drop.

Prep for the day ahead.

Been a little lazy with posting trades, must do better. 30th and 31st results.

No trades for the previous days prep. Prep for the day ahead.

Prep for the day ahead.

I was not focused on the task at hand as price reached the LL of the range posted in the prep.

No trades for the last couple of days.

Prep for the day ahead.

Actions for the prep above.

Price is still trying to make up lost ground from last weeks drop, market still trending up so no reason to think it wont.

Overnight PA has moved the market since the close of the last session. Will have to see if the pre-market DB was the bottom or not.

Chart attached with the days actions and thoughts.

I might come across as a little bull headed but I'm going to persist with intraday for a little bit longer, I'm looking at longer term trading via stocks so might post about that. Prep for the day ahead.

Thoughts on the daily volume and PA.

Trading activities for the prep above, I was distracted after trade 2 closed so only two for the day.

Prep for the day ahead.

Trading days for previous prep. Longer-term traders aren't looking at a 1m chart. At the most, they are looking at an hourly chart. What is important about 5606 on the hourly chart? 5606 is the MP of the last significant rally on the hourly from the 28th April at 5572 to 2nd of May at 5642, the drop off from this rally was halted at this point and it held despite being tested twice on the 3rd of this month. That makes 5606 your TO. Why would you not take it? With price coming sharply back to the level I was a little wary of it (rev) and I hesitated, the ret would trigger (1m) around 11.5-12 which was getting away from me by that point. Price doesn't "come back to" the level; it bounces off 06. That it does so "sharply" tells you what? Sharp decline to 06 would suggest supply running over demand, no sizeable buyers were interested until price dropped to a level that represented value for them. And if buyers are rushing in at 06, which one has reason to expect, why not take the trade? (Please erase all those lines) I was not thinking this way at that moment in time, whilst I looked at a rev entry around 08 I hummed and hawed and that moment was over in a minute, perhaps a little fear and doubt set in when the moment arose. You've made no comments about volume. What is it telling you during this interval? (And note that your two 1m charts for this interval don't match; the one you posted today shows price bouncing off 04; that is incorrect.) Are we talking about the 09:39 low at 06 or the 12:19 low at 06? Price broke 06 at 09:54 reaching 03.75 and retraced back above 06 a minute later, both charts in this post are the same except for the lines and text. The chart you uploaded to post 176 has no date. If the chart you're posting here is not the same, then, yes, 3.75 is correct. Nonetheless, what is volume telling you regarding the trading at 3.75 at 09:54? Sorry, #176 was from trading on the 3rd, as for the volume on the charts here (4th), price broke lower on a volume spike (force) then rallied on a drop of volume (decreasing selling pressure) retraced towards the LL (very shallow ret on even lower volume, buyers holding up to light pressure) then rallied higher on increased volume, expansion of price with expansion of volume. All correct. Now apply this mode of thinking to the 3rd. You say that you weren't "thinking this way". But thinking this way is critical to trading price in this manner. So go back to your chart for the 3rd and re-evaluate the PA while thinking this way (I won't be able to spend much more time on this, so the sooner you can reply, the better). Its a little cluttered, posted to charts. It's easy to get sidetracked by hindsight. If you're not careful, it can set you back weeks, if not months. There is no support here at 06, at least not yet. What goes on here suggests support for the following day, but not this one. Here all you have going for you is "force" and "lack of force", or what I've called "intent", and the general middle of the rally from 4/28. Note first that the midpoint of the PDH/PDL is 5630. This presents a potential TO given that price has been ranging all nite. Price tests this level pre-mkt just after 0900. If you don't want to take this, price drifts down and RETs to 28.75 at 0920. If you don't want to take this either, note that price tests 28.75 at the open. If you don't want to trade the open, there is a RET two minutes later at 24.75, all of which is long before what you see as your first TO at 1009, none of which is meant as a criticism but rather an acknowledgement of the fact that this is what you have to do if you're going to trade this intraday. Over-waiting for confirmations nearly always means that you'll be entering near the end of the "run". Price then bounces off 16.25, the PDL. Whether or not the trader exits on this bounce is up to him, but either way he notices that price reaches no higher than 22.5 before falling back into a test of 16.25. This time the bounce is weak, and if he's still in, there's no reason to exit. Price then provides a selling climax at 1009, and the TO becomes the RET after the test, if there is a RET, if there is a test. But whether these present themselves or not, at least you know what to look for. In this case, the "test" winds up being a VREV that takes price back up to 21.5 where it makes a double top (look at the volume: lack of force, withdrawal of demand) and drops to 06. Note that none of this has anything to do with lines. It has instead to do with buying force and selling force and how far each can take you before running out of steam (volume). If you are unable to view price movement in this way, I strongly suggest that you avoid daytrading. If you're not trading with longer-term traders, you're trading with scalpers and HFTs, and they aren't trading off 1m charts. All of this is in the book, by the way, including Appendix D. I suggest you look again at Appendix D in particular. And get rid of the lines. Thanks for taking the time to go over this, realised that 06 was not tested at this point after I posted it but I was still looking at the MP. I've been reading and re-reading the Wyckoff material but most of the threads I've been going over in terms of intraday trading (ET) have not discussed volume in detail so much. I have been looking at it more and more but those spasmodic spikes can throw me at times. It is unlikely that either Wyckoff or ET will be of much help here, if any, at least with regard to daytrading (except of course for Wyckoff's Daytrader's Bible). You can't trade what you can't see, and the information you need to trade intraday is in a much smaller interval than 1m. Not that you can't continue to try and not that you can't make a few bucks, but the fact is that you're outclassed by those traders who are better prepared and outfitted than you are. Gain competence with this through trading daily charts. Only at that point should you even consider trying to employ this in daytrading.