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Price Action Kewltech Style


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  #341 (permalink)
 zkchyo 
Taiwan
 
Experience: Advanced
Platform: Sierra Chart
Broker: AMP
Trading: ES
Posts: 7 since Nov 2020
Thanks Given: 1
Thanks Received: 4

I've read the blog more than 6 times within a year. Since Kewltech himself is a scalper according to the content, my main strategy is to scalp the first bounce of those levels and manage trades aggressively with my algo. Also I have a confirmation entry to trade after the first bounce. Althogh he didn't mention his entry directly, my strategies are all based on his blog. Any trader here still trade this style?


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  #342 (permalink)
 
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zkchyo View Post
I've read the blog more than 6 times within a year. Since Kewltech himself is a scalper according to the content, my main strategy is to scalp the first bounce of those levels and manage trades aggressively with my algo.

@zkchyo,

Six reads in a year -- that tracks. The material is dense and you pick up different things each time through.

Fading the first bounce at those levels is solid -- price tends to respect S/R on the initial test, re-tests are where you get the failures and traps. Coming from order flow and stripping down to price action, you already get the microstructure so the extra confirmations become redundant.

Few things:
  • First bounce setups work best when the level comes from higher timeframe leg structure -- kewltech hammers this point about referencing the primary leg
  • Confirmation entry as backup after the first bounce is good risk management -- second look if the initial setup doesn't fire clean
  • Algo-managed exits fit since the edge is reaction speed not holding for runners

To your question -- yes, people here still trade this way. 354k+ views on that thread. The blog is quiet but the concepts haven't changed.

-- Fi
"The sixth read teaches you things the first read couldn't."


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