Setups from Friday 11 10 23
Posted: Mon Nov 13, 2023 10:28 am
Watching alot of Al Brooks stuff lately, lots of little things are clicking with me especially now that I have some chart experience. I tried a year ago but I was just so lost, but now Im seeing alot of overlap.
What do you think about these setups. First green arrow I was very tempted to take but didnt. Strong unbroken trend up, pulls back into congestion. Lots of dojis. Bear bar finishing on its low breaking out of the congestion to the downside. Why not buy the close of that bear bar or place a buy limit 1 tick below the bear bar and use an ATM of 3 points both ways? The congestion is about 1.5 points and a measured move makes the whole thing about 3 points if you buy the low. This is one thing that I have noticed from al brooks, his method of trading ranges and what we call congestion he calls a limit order market and makes alot of sense. Usually in that setup we wait for a breakout the bottom and a bear bar finishing on its low then wait for a bull bar to buy 1 tick above, but doing that makes the setups kinda rare.
Second setup is the break of the bull trend up. Bull trend up is a breakout of the overnight high and opening high. During the pullback that breaks the trendline, I think its reasonable to pay attention and assume that breakout area might be tested. That little short term trendline down gets an obvious overshoot of the bottom and reverses up after testing the breakout area. Key being the overshoot. Another one I was really tempted on.
Third trade is up higher in the day, but is another setup similar to the first green arrow. Buy the close of the bear bar or limit buy order below the bear bar, and an ATM of 3 points. ATM strategy based on size of congestion area and its measured move target. I do not scalp, I always go for 1:1 minimum and these setups all look like good candidates?
These setups are obvious breakouts. These are also the same thing. First trade is sideways and breakout to the bottom, second trade is chopping downward with a breakout on the bottom, third is a repeat of the first. All the same except one is downward and the other 2 are sideways, but thats technically the same thing isnt it? A trend is a range tilted on an angle and kinda operate the same way with breakouts and overshoots, and being a pretty strong uptrend day the context is good.
Second image, what do you think about these setups from the overnight of the same day? Marco didnt mark any of these but I thought they were pretty good. I wasnt at my PC at the time but the 2 blue trades I would have taken 100% every time considering the context of the breakout, and the previous days downtrend that ended in a range, that broke out both sides with a double bottom. You could also consider the downtrend of the previous day a breakout of the previous 4 days worth of choppy sideways trading.
Lots of breakouts happening. Any thoughts and feedback would be helpful.
Is this how we try to predict possible trend days? These sort-of breakouts? Im really trying to keep pushing to understand more and not get stagnant and stuck, if its possible to clue-in to trends then runners would help profits.
What do you think about these setups. First green arrow I was very tempted to take but didnt. Strong unbroken trend up, pulls back into congestion. Lots of dojis. Bear bar finishing on its low breaking out of the congestion to the downside. Why not buy the close of that bear bar or place a buy limit 1 tick below the bear bar and use an ATM of 3 points both ways? The congestion is about 1.5 points and a measured move makes the whole thing about 3 points if you buy the low. This is one thing that I have noticed from al brooks, his method of trading ranges and what we call congestion he calls a limit order market and makes alot of sense. Usually in that setup we wait for a breakout the bottom and a bear bar finishing on its low then wait for a bull bar to buy 1 tick above, but doing that makes the setups kinda rare.
Second setup is the break of the bull trend up. Bull trend up is a breakout of the overnight high and opening high. During the pullback that breaks the trendline, I think its reasonable to pay attention and assume that breakout area might be tested. That little short term trendline down gets an obvious overshoot of the bottom and reverses up after testing the breakout area. Key being the overshoot. Another one I was really tempted on.
Third trade is up higher in the day, but is another setup similar to the first green arrow. Buy the close of the bear bar or limit buy order below the bear bar, and an ATM of 3 points. ATM strategy based on size of congestion area and its measured move target. I do not scalp, I always go for 1:1 minimum and these setups all look like good candidates?
These setups are obvious breakouts. These are also the same thing. First trade is sideways and breakout to the bottom, second trade is chopping downward with a breakout on the bottom, third is a repeat of the first. All the same except one is downward and the other 2 are sideways, but thats technically the same thing isnt it? A trend is a range tilted on an angle and kinda operate the same way with breakouts and overshoots, and being a pretty strong uptrend day the context is good.
Second image, what do you think about these setups from the overnight of the same day? Marco didnt mark any of these but I thought they were pretty good. I wasnt at my PC at the time but the 2 blue trades I would have taken 100% every time considering the context of the breakout, and the previous days downtrend that ended in a range, that broke out both sides with a double bottom. You could also consider the downtrend of the previous day a breakout of the previous 4 days worth of choppy sideways trading.
Lots of breakouts happening. Any thoughts and feedback would be helpful.
Is this how we try to predict possible trend days? These sort-of breakouts? Im really trying to keep pushing to understand more and not get stagnant and stuck, if its possible to clue-in to trends then runners would help profits.