PUTTING IT ALL TOGETHER

TODAY  I am sharing all the charts.  In the chat (and screen share) we use a 5m chart for YM, ES, NQ, and TF.  6E is another.  The charts are interpreted to see major market moves which show in all markets, as it is believe that the professionals will enter across all markets at or near key points.

To enter or exit trades, another set of charts are used: 8 tick range, 5 minute, and a 1 minute.  The break out targets (BOTs) are calculated in the pre open session, and applied to the charts.  As the price action develops, we look for trend lines, channels, key focus points, break outs, failed break outs, flips, MAXT, order targets, and a host of other markers.  Any time two or more markers arrive at the same location as price action, a significant break is expected, which is one that will have several points in a run.

Trend Lines added to the BOT ranges become important areas to consider a trade.  A TL hit that does not break should always be considered.   After break outs of the long or short BOT, a reversal is another important consideration for a trade entry.

Today, we had a TL, EMA, and a focus point hitting at the same area of price.  The focus point (ES 1291.75) was the approximate center for the upper trading range top. This point was marked for other instruments.

 A MAXT was noted in TF, hinting at an exhausted run.  The market hear the FMOC news and breaks sharply down as the day ends.  If you mssed the top, or the EMA failure, you should have caught the long BOT reversal.

TODAY:  A LOOK AT THE CHARTS

click to enlarge


TF

ES

NQ

YM

ES RANGE