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Just joined, happy to be here!
I'd say my favorite setup is either a HL/LL with an engulfing candle or simply a retest of S/R... What's your favorite setup?
I like 2nd entries after a failed break out of a channel. These seem to have a VERY high win rate and the move through the channel is often very swift, which i like.
In a bear trend (HTF bear trend, not intraday), especially if it's strong my favorite setup is break below a wedge bottom/flag and mm down. markets constantly making these on all timeframes. r/r is very good and again these often see big spikes down into the mm target. these generally won't work at all in bull trends.
In bull trends, one of my favorite setups is the reclaim of a failed wedge bottom/flag. or a double bottom below and then for it to reclaim. because it's essentially a liquidity grab, once it reclaims the retest level it usually rips pretty hard. much like the markets been doing everyday for the last few weeks. r/r is very good and it usually goes fast.
In general i like whatever is making traders money at the moment. I'm sure you may have noticed this but everything on the 4 hour, 1 hr, 15, 5 min, whatever has been making these 2nd entry longs and initially they drop below and start to look like they fail and then they turn back up hard. same with the wedge bottoms that fail and make it half way to the measured move target, and then turn back up. for the last few weeks it's just been on repeat over and over and over.
No decent sized failed wedge bottoms have hit a measured move target, except for yesterday one FiNALLY hit, which i believe is a sign.
Obviously in bull trends the markets constantly breaking above wedge tops and making measured moves but i dont like these as much because they seem to be more likely to break above and then fall back into the center before turning back up for the mm move. this seems to happen more than their counterpart.
I also like when i see 3 or four different patterns that all have measured move targets in the exact same location. Like a wedge top has a MM target at $99, and a bull breakout bar and follow through bar from an hour later also has a MM target at 99$, and then a little while later the trading range MM target will be at $99. When there are multiple MM targets in the exact same spot based on different patterns its pretty safe to assume we're going to see that price soon.
and lastly, the standard with trend, second entry long at the trendline and 20ema with a strong
signal candle.
i need to screenshot this, because i can promise you the odds are i will somehow find a way to take every trade
EXCEPT for the trades listed here... I KNOW what trades work. I'm the idiot who still can't help himself from doing stupid shit...
my favorite setup is either a HL/LL with an engulfing candle or simply a retest of S/R...
Do you mean MTR setup? I would rather choose setups that are convenient for my personality.
combine of QM,SH and MTR are perfect for me
Either Mo.. MTR or WT setups. I personally like Reversals more
H2's WT 🙂
BO of anything lol... Yea, context has to be "right," but I like'em.
Nice. More than half the breakouts I trade fail so I usually look to fade them. What kind of BO's are your favorite, what's the context like?.... I keep things pretty simple, basic Support and Resistance is what I base everything around
Nothing like being instantly in profit... Or waking up in the middle of the night to go to the bathroom and you see your TP got hit on a swing lol
I like trading wedges best for a move against the direction of the wedge, they have a pretty high probability for a 1R or 2R trade (depending on context), except in small pullback trends like previous 2 trading days. Those are like my arch enemy.
The other setup I like alot is double tops or double bottoms, also for a 1 or 2R trade. Especially when they are formed in a sharply matter. So big up, big down.
The reason why these two setups are most convenient for me, is that first of all they occur often in a day (unlike an MTR for example). And secondly, they largely work without excessive analysis of context/market cycle, which is a big grey area imo.
With these two, the only grey area you have to face is getting a feeling for all the variants of the setups and their signal bars; sometimes very ugly wedges and DBDT work, and sometimes beautiful variants fail, due to context or just due to the fact that all patterns fail.
small pullback trends drive me crazy. mostly because of how slow they tend to move. It's like that zombie grind higher. I trade spy 0dte and a lot of times the option will drop in value quicker than the small pullback trend can climb. some of them move along quicker, just depends. What do you find difficult about them?
Yea exactly, for me mostly because it often has pretty decent wedges that fail like 3 times in a row. They always look like they are about to reverse but keep grinding on.
