Sideways Trading Ranges, 2Step Pattern, AB=CD Pattern, Tape Reading, Momentum for Day Traders

Do you know how to determine a sideways trading range?

We all know by now that we can make AMAZING profit by selling the highs and buying the lows, but we need to DEFINE this trading range first.

How about the AB=CD Pattern? Do you know WHEN to use this great tool for defining profit targets?

We covered all of these topics and many more in today’s video…

 
– How do we determine a sideways trading range

o https://www.sidewaysmarkets.com/day-trading-position-trading-scalping/

o When the market cannot make new highs or new lows

o Double-tops and bottoms, flat trigger lines, slow speed at the highs and lows, and fast speed in the middle.

– Medium Timeframes, how we use them

o Green and Blue Charts are the medium timeframes, we use the trigger line as support and resistance.
o As part of my entry rules I always check the trigger line on the medium charts to make sure I have enough room for the trade to run

– 2step pattern with multiple swing highs/lows

o 13 and 21 range charts I will always use the more conservative entry

o 4 and 8 range chart I will always try to gt the entry as close to the lows as possible, so I take the more aggressive approach.

o One more thing…when we see a bunch of swing levels around each other.

 I will use this as a concern and use the more conservative entry.

– Repair your database

o Info on this is in the advanced download section
o Repair my database twice a week, Tuesday and Thursday to make sure its working properly.
o I also remind you to back-up your workspace file just in case something happens to your computer and your file is corrupted.

– When do I use the AB=CD pattern?

o I use this pattern to identify the range of the potential move I am looking to take.
o I use this when I don’t have any other levels of support or resistance to use for my stops and targets.

– Reading the Tape

o https://www.sidewaysmarkets.com/live-tape-reading-webinar/

o Settings on the Tape are only for members

o Pace of Tape Indicator is only for members

– Using Momentum

o Very easy to understand, but more difficult to implement
o Because it goes from overbought to oversold, and this is a trader’s obstacle.
o Long trade I want momentum PULLING me up (curling up from the bottom)
o Short trade I want momentum pulling me down ( curling from the top)