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After hours trading, even on futures, is low volume. On stocks, it is probably even less active. But you don't want to exclude it, because you would not be looking at a complete data set. Again, I don't know much about stocks, but on futures, you want to include an overnight session.
I use TOS. I currently do both day trading and swing trading but mainly swing trading and only for stocks. I mainly trade SPY though if that matters.
I looked up the clear method (lowest high, highest low), I assume that's the one. Got a TOS indicator for that? I'd like to see it in action with stocks. Or is that something that has to be done manually?
I like this one because it is in the spirit of the "frame control" and does not lag. It is based on a range, for the price action to change, the range - or the "frame" - has to change...Don't know how well it works on stocks, but it does work well on futures, such as RTY, for example, on a Daily. It also works well intraday, but not in isolation. Just like on a daily, an intraday price action is ruled by prior ranges.
Hello everybody,
this is a very nice Thread. I loved reading through.
As I cant find any information on the kewltech Blog could sb. (maybe 1zach4) please send me the blog pdf so i have a litte bit more of context?
That would be so great! Thank you so much!
All the best!
I deleted my copy, better ways to learn market structure than reading stuff that was made vague on purpose. Heard people that learned directly from the guy have lost hundreds of thousands in the process anyway. People need to stop going so nuts over "kewltech"
It is support/resistance/trend structure and other people teach it/explain it better.
DISCLAIMER: The chart was analyzed in hindsight after the market closed... It's New Years Eve.
I've been studying KewlTech for a little bit, but have found that it is too discretionary for my current level of trading. However, I don't see why I can't analyze the markets and glean knowledge from his trading as well as discuss the various aspects of his trading.
We can expand on this concept by identifying price consolidating between a supply and demand zone on an anchor chart. Once we have identified a likely range day, we can begin looking for this cyclical market movement behavior of rising and falling wedges. Using the price action of wedges with MACD confirmation, we can find clear entries and exits. In this example posted, I have used the MACD crossovers as both entry and exit signals with stop losses at the nearest swing low or high. Taking conservative price confirming entries and exits, we can see that perfect trading would have yielded over 50 ticks with 2 winners, 1 loser, and 1 scratch (The final channel break happened within a few minutes and I excluded it). Happy New Years!
I am looking at the wedges and channels that form inside a range day to trade off of. I don't use them to identify range days. Instead I like to locate consolidation (accumulation or distribution) on a higher timeframe and look for a supply and demand zone (resistance and support) that is sandwiching price. As long as the market has a memory, price will move from level to level and we can trade off of this by identifying where price is relative to those zones. For example, if price dramatically breaks a demand zone or there is a retest continuation then we have a degree of confidence that the market is going to be bearish. The opposite is true for a bullish case. If you look at /ES 60 minute, you can see that we've been bumping between supply and demand zones for the past couple days and this last Globex session gave us a clue for the daily range. While we broke a demand zone, there wasn't a successful retest and price moved back above the demand zone signalling there was still enough demand to stop or stall a strong trend day.