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the interpretation and application of price action concepts

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We all share a similar path in Trading. Even though you may not be a consistently profitable trader now, you can chose to enjoy the path. This alone may make the difference in your success.



Setups to trigger entries...that's only part of the story. Band confluence  Traders Dream =Fibonacci, Bollinger Band & Divergence ,    CCI and BB 

CCI divergence and 162 fib extensions

  • Confluence occurs when multiple Fibonacci  retracements, extensions and expansion levels of support or resistant occur in very close proximity. Each of these Fibonacci measurements is an area of support/resistance by itself. When coupled with either the same Fibonacci measurement obtained form different swings or a different type of Fibonacci measurement the support/resistant area formed has increased strength of the support or resistance.
  • I expand on this to include any and all support or resistance area such as Floor Trader Pivots, Bollinger bands, Keltner bands, other bands, moving averages,  simple trend lines, channel boundaries, Andrews Pitchfork...and any other condition that points towards increased support or resistance.

080603 series of 4 below charts-- Confluence using the concepts of  Market ProfileValue area, POC, fib projections, BrachZoneAndrews, divergence, ascending bottom trendlines, targets become reversals, 123 reversal

Here is today's price action chart 15min. 

I spent 70% time watching  this chart on ES in addition to a 3 minute and 266 tick chart from time to time. This chart is a continuation of similar chart from yesterday. 

The day started with all 3 Andrews draw Red-down channel Andrews, Black-sideways channel Andrews and the newest Blue- up channel Andrews. 

I discussed with some traders and posted on dacharts last night after market close on possibilities for today, I allowed for either more down which would have to break the Medianline (middle) of the Red Andrews or up continue in the just formed Blue one.  Price had traveled a long way EOD yesterday and close at a 162 fib extension with confluence at the red Medianline. from that perspective a retrace was due. Targets often create retracements and/or reversals. If the market did not gap down I would look to go long at the bottom blue Andrews line with upside target of yesterdays POC 97475.  

Markets opens gap up I went long on slingshot "1", took a little heat and exited and went short "2" at the black Andrews line with showed divergence Anticipating a test of the Red Andrews to ride to POC.  A 123 reversal pattern was forming (see 3 minute chart) and when price touched Andrews again had divergence and a BrachZone for a long. I took partial profits (see 266 tick chat) and basically held all day as I traded the bonds. There were a few other longs on retests on the ascending bottom trendline. Not all the ones shown (3 min chart). Clearing the 966 area=pivot then red Andrews were mile markers along the way. Finally, big exhaustion candle to target and reverse for short. Had divergence on both the LT (long term) and ST (short term) stochastic.  96350 had formed as POC for today and was target. As price declines the POC shifted to 969  and I exited in the last BrachZone.   The yellow boxes on chart are BrachZones.  This may seem like a lot of concepts. If you master and build on them one at a time you'll get there. I found it quite a relaxing day to trade.

Tomorrow, I look to go long against the Andrews again back up to POC 969 then middle Andrews will allow 985 if it gets past that 990 tops and the Blue Median line. Good Trading to all NQoos


click chart to enlarge


click chart to enlarge


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click chart to enlarge


080503   Confluence using the concepts of Market Profile VA and POC,  BrachZone, Fib extensions, Andrews, Descending Top Trendlines
perhaps this color clearer
click chart to enlarge
The setup of the day by Brach 1/31/03 is a perfect example of confluence.

click chart to enlarge

expect miracles, they are everywhere.............. God is good all the time

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