TRADING RANGES WITH DIFFERENT CHARTS

Your can use the BOTs (break out targets) trading ranges on different chart settings.  Each chart can provide details about the market.  Support and Resistance, exhausting runs, double topping or bottoms all are identified with ranges, and they can help identify likely exit points. 

Most traders seem to favor some variation on the 5m, or use tick charts.  Today, we used the 5m and a 8t range bar chart.



TODAY:  ES


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1. There was a low around 8 AM, with a strong long entry at the lower target and EMA.
2. EMA acting as support into open.
3. Failed long BO  news push to the lower target support.  Another strong entry long.
4. Price was bouncing at the EMA in a wedge pattern, with a consolidating pattern b28-41.
5. Long BOT support but EMA FBO.  Switch in EMA from support to resistance.
6. Shorts exit at mid and lower BOT
7. Double bottom low from AM.  Reversal with a target of reaching the mid trading range.

Two point, range chart:

Technical entry points are where you can join the professionals that have started the movement in the market.  It will always be a better trade with the market.  Note I am saying with the trend.  At the entry you do not know if it is a scalp or if the market will run creating a trend.    If you are entering a PB for a second leg, then you have some history to suggest the leg 1 trend will continue.

The technical entry points are found near the range targets, and will have exits at/near the targets or the EMA.  These exist for all markets,   the ES is shown as an example.