This is adding a little to today's earlier post and answer some questions.
I had a few people ask about avoiding chop and/or trading sideways markets. For me, it really isn't a problem because I use range bars. Yesterday was a pretty dead day. Kiki was never even close to getting into trouble, but she was very bored, and found it hard to keep her focus.
I had a few people ask about avoiding chop and/or trading sideways markets. For me, it really isn't a problem because I use range bars. Yesterday was a pretty dead day. Kiki was never even close to getting into trouble, but she was very bored, and found it hard to keep her focus.
For me, the only untradable "trend" is when I don't have the expectation of reaching my first scale point. If I think this is the case, I'll pass on the trade. However, if it's clear that the first scale point should be reached then I'll take the trade because by the time price gets to T1, anything can happen and there may be more in the trade.
I give myself the chance of making money by being in the trade.
Sideways markets for me are when there is a clear horizontal channel around the 33EMA with the 99EMA almost superimposed on the 33EMA. I'll trade the channel using the VB and when the CCIs get overbought.
VWAP is something I did look at but that and the 33EMA are very similar and I prefer the 33EMA. If someone has VWAP but not MP then they could use VWAP with the 1st and 2nd Standard deviations as VAH, VAL.
The CVD is a lagging indicator and I often trade against it. The risk is higher and I need to be confident that the VB and the CCIs support the trade and that the bar pattern does too. Newbie traders should leave this type of setup alone until they have a lot more screen time, as there are lots of nuances to discover to make it a successful trade.
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