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I see spike down and then channel up. This repeats over and over. And channel eventually breakout back up.
I guess the reliable thing here is just buy any spike red candles.
Example above
A sell climax vacuum test of yesterday's breakout.
Remember to look to the left for context.
Hmm I thought it tested at 4am this morning
That was almost 2pts from the BO point, usually the market has to get within a couple ticks.
Also it wasn't during the day session, which I posted.
May I suggest a more 'efficient' chart and style?
It will help 'slow' the market down and reduce information overload.
As a beginner, this will help reduce mistakes and help confidence.
The ES is always just slowly walking up the stairs and then jumping down them. Downward moves are always much quicker. Al talks about this in video 29E.
I'm still a relatively new trader and I make more money on shorts because of this. It's easier to hold a short for 3 bars and make 10 points than it is to hold a long for 12 bars and make 7 points.
If you're confused and don't understand what is happening, don't trade until you do. It's the simplest and best thing I have learned from this course.
