In a Channel prices are moving in the same direction but most bars are overlapped L1= L2 measured move = the 1st and 2nd leg of a trend (measured from the extreme of the Pullback) have the same size buy the breakout of a trading range and take profits at 1 x the high of it (or MM of a PB, TRI or spike), see here MM = measured move(s) are often used for profit taking, e.g. TRI = Triangle, a couple of swings with contracting range MDT/ mDB = micro Double Top/Bottom, two or three consecutive bars with the same high/low
MW = micro Wedge, a wedge formed by only a couple of bars, especially Inside Bars H2/ L2 = Two push pullback in a bull/bear move and a stop entry buy/sell above/below the prior barĢSP = 2nd shallow PB in a strong trend, like the 2nd L1 in a strong bear trend H1/ L1 = One push pullback in a bull/bear move and a stop entry buy/sell above/below the prior bar T1B = Trend from the 1st bar of the day or soġTail = 1st Tail, kinda 1P ( lmt C buy/sell) in a spike/hard trend MTL= micro Trend Line, connect the lows of two consecutive bars for a bull mTL (see here) Spike = a very strong trend/breakout, consecutive Trend Bars TA = Trend Attempt, a strong breakout with a breakout bar closing beyond the breakout point Mid range = Open within the prior day’s range or close to HOY or LOY OOW = Open of the Week (especially useful on Friday’s)Ĭontinuation = Price action is continuing from the prior day with a small or no gapīull gap = Price opens with a gap higher than the prior day’s closeīear gap = Price opens with a gap lower than the prior day’s close Read more here: Yesterday’s shallowest trend lines, be sure to draw them. It’s free.Īdd the shallowest Trend Lines from the prior day and you’re set. To show all basic Support and Resistance you can use the Day Trading Support/Resistance indicator for NinjaTrader 7/8. On the daily chart I mark the Always In direction, that I see the market is in.ĪIS = Always In Short (look to get short)
The abbreviations/lingo I use is a mixture of Nine Transitions (Cad) and Al Brooks. In channels a trend termination needs to take out two HLs for a bull channel and vice versa for bear. The cyan colored arrows (drawn by hand)show trend terminations, by taking out a HL in a bull or a LH in a bear. Sometimes (if they aren’t obvious) I mark wedges, fH2 or fL2 with dots (for each push/failure). During lunch or in the afternoon, they often represent reads only.Įxpanding triangles I usually markwith purple diamonds. I mostly take the trades, that are marked with the arrows. I draw all trend lines, arrows and boxed text (entries) by hand.
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