all right members let's recap today
because I think today was really really
interesting so when we entered our
session today on Zoom
our Arrow
was pointed up
why we were laddering up all night long
laddering up out of our range retested
our range laddering up
we took out four daily highs as we noted
before we began
and I also noted that we just took out a
monthly and weekly
ladder point
so although it was laddering up
I was already short 31 because of this
latter point
and we noted yes the arrow is up which
means you should either be long or flat
but know that we are bumping our heads
against a ceiling
okay bumping our heads against the
ceiling so I was completely anticipating
a breakdown and kept trying to play that
I was short several times in here
waiting for that to happen and then when
the market opened I said okay we need to
now uh play our strategy of it needs to
take out two brake levels before we
change from
laddering up where we should only be
taking longs to neutral to balance where
now we can take Longs or shorts and that
occurred right
here I'll just use this that occurred
here
we changed from
being biased long
to be in biased balanced which means we
could take shorts or longs
with our levels
and then I stopped trading at my normal
time because I don't trade New York
lunch there's no sense in it this was
New York lunch time frame a lot of
manipulation a lot of slop and chop I've
just determined that's not worth Trading
then you got this beautiful
fair value Gap candle
right to here and you got another fair
value Gap candle
thereby leaving
this and this
at that moment as I mentioned when I was
done trading I said where would I want
to start trading again when we got down
into our range and we got under
the fomc rth high
and we did that
I was racing back to get here to trade
and got on Zoom a little later than I
wanted and I was looking to go short and
this fair value Gap area
but price didn't quite get there I I
almost just entered and went oh well I'm
going to enter a little early and um
still have an appropriate stop but I
didn't get into that short there and I
was like no big deal let's watch what
happens and we kept making lower lows
lower lows and somewhere in there I did
go short
and then
we made it down to our Puck it has six
day Puck but now it's probably eight day
POC right 45.85 and I said would it be
interesting to see if we just rest here
is this all they wanted to do this was
also basically the half back of
yesterday's session and then we did
another vomit candle leaving another
fair value Gap
fair value Gap
and up here remember we left
we left this fair value Gap and we left
this fair value Gap you have to notice
the stacking of the fair value gaps you
have to notice the stacking of the
backsides left okay
at that point when we're in this red
it's only shorts shorts only I was
looking for no Longs at all I was
looking for every opportunity to get
short we had to drop down in time frames
if you were on Zoom to the 30 second
chart and there were plenty of
opportunities to be short and I was
short
um several times down there and then I
want you to notice what happened I'm
gonna drop to a 30 second chart but I
want to notice on on this three minute
chart what happened here
it came to the bottom of our range and
had a beautiful reaction uh Nathan
actually took that long I was still
looking for shorts I was telling the
group though we are down here in my
green area down here you honestly only
want to be looking for Longs but we were
still vomiting down now where did that
change you know where that changed
that changed right here when we got no
backside development and it bounced off
the bottom of the range that's when it
changed and I noted to the room note we
did not have backside development here
the vomiting appears to be over
so you want to be more strategic in your
entries
and know that if you go short
you are indeed going short in the green
area and as I preach over and over when
we're in the green area it is better to
be long than to be short
then I want you to notice what I did it
came down to our four hour base and had
a beautiful bounce I was not trading at
that time I'd already finished my
trading but it is still amazing to see
it bounced beautifully off our level now
let's go to the 30 to the 30 second
chart
because here's what I was noting
because I told the group okay we made it
down to our six day park this 45.85 this
might be all it wants to do then we had
a beautiful move down and we were coming
back up and I said I'm not going short
unless it gets way high up here then it
fell short of making the puck and we
came down again tried again came down
again and then we finally got 10 points
away from pock
this big puck because you know me I I'm
very leery of trading so close to park
and I told the group okay if it breaks
75 here I'm going short
because I expect us to make it to 65. so
I had a beautiful
short
literally right there
and it went a straight eight points down
I was hoping it made it all the way to
65 and it didn't so I only made half the
move I made five points or whatever
there and then eventually eventually
made it to 65 which was here
um I was hoping that when we took out 65
it was a big vomit candle we got
backside development never happened
showing the move is dying in here okay
so when that backside development stops
those fair value gaps no longer develop
you know the move is becoming tired plus
it was in the bottom of the of our range
these ranges are so important that and
honestly that's why I created this video
was to go over again the power
of these ranges okay
it dipped down to our four hour
um it's a backside it's the base of a
four hour and just beautifully bouncing
what did it do it went right back into
the range because that's what es does
failed breakouts seems to be the mode
the last uh nine months in my opinion
and so look at it it came back up into
the range they tried to come out it came
back up it bounced off the top and here
we are
okay beautiful what an amazing day now
on the three minute chart we did not
have the cleanest entries you had to
know where we were
when we got back into the range leaving
these fair value gaps these large
displacement candles leaving backsides
untouched and you had to drop in time
frames and find your entries being very
aware of where this six day POC was
being aware that we were in the in the
red being aware that if you were going
to go short down here you needed to be
cautious and small being aware that we
did not have the backside development we
were looking for and Es does what es
does is it went back into the range
just a beautifully red day I think it
was absolutely fantastic everything we
talked about that we talked about was in
culmination here today it seemed like
uh just a beautiful day if you weren't
on Zoom I am so sorry you missed Zoom
today
um I did not record it
um I don't typically record them so
yeah just I I don't want to do that
every single day
um but absolutely fantastic I hope you
had a safe day knowing when you should
be looking for Longs knowing when you
can look for Longs or shorts and when
you should only be looking for shorts
and we had all of those today
absolutely fantastic I can't wait to
trade in the morning see you guys in the
morning learn more about our group at
microstrader.com
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