Today was a pretty sideways, go-nowhere day. So, I thought mean-reversion was the play to make. I put up charts on ES, YM, and NQ, and waited for extreme moves on low volume. Once they put in an appropriate turnaround candle formation, I tried to ride them back up or down.
Here’s [...]
Here’s a trade I was watching set up, but had to leave before the third candle finished. I would have taken this trade for sure, and probably jumped out way too early! But, it shows how the paintbars are starting to come together a bit.
Not all examples are this nice, [...]
I wanted to show you how I’ve been selecting trades the last few weeks. It’s a multi-step process. The paintbars alert me to possible entries on my lowest level charts. Then, if I like what I see, I go from the top down and make sure all my higher-level charts agree. [...]
So, inspired by the kinds of indicators I’ve been seeing on the EOTpro.com videos, I played around and created some paintbar indicators this weekend. They aren’t the same strategy as in the videos, but I got ideas like color coding various signal ’strengths’ so I can differentiate the quality of the setups better. [...]