6377642
Description
Flashcards by Aaron Parks, updated more than 1 year ago
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Created by Aaron Parks
almost 8 years ago
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| Question | Answer |
| Definition of good trade location | -Fading at a zone -Near range extreme on range bound day -Intraday pullback to key ref area on strong directional day |
| Definition of bad trade location | -At or near a zone or range extreme -In the middle of range bound day with no clear directional conviction or bias |
| Today's bias | -Is there a directional skew to price action? -Absence of directional conviction is range bound and no bias |
| Shift in days bias | -Rely on where price is in relation to one or more key reference area's to determine which side is in control and if there's been a true shift |
| When is there sustained momentum? | -When the market is able to move easily in one direction in a sustained manner. PA clearly shows large bars in one direction, with retracements being minor sized bars |
| How does the TICK play into sustained momentum in the ES? | -In ES, look for sustained momentum in both price and TICK -TICK should show a strong skew (+-800 extreme's at least) |
| What are the timeframes used to determine Larger Time Frame Bias? | -Short term: 1-4 days -Intermediate term: 1-2 Weeks, or a very large move. Also multi day patterns like 1-2 week balance break -Bigger Picture: 1-3 Months or so |
| Which timeframes are most important in determining the larger time frame bias? | -Intermediate and Bigger Picture. If both the same (directional or neutral), then clear bias or lack thereof |
| How do you determine larger time frame bias when intermediate and big picture aren't aligned? | -By asking which is most relevant to day's trades? -For example, ff short and int aligned bullish, then bullish until bigger picture resistance hit. Then go neutral -If short term break into big picture R, could be bearish -Neutral means odds not clear which side will win out |
| QR scores | 4- Must take trade. Pb's to good location in trend days with LTF bias 3- Always take unless very poor location 2- Necessary but not sufficient. Depends on context 1- Only if good location and either a major zone, or market internals showing clear div/disc |
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