Price Action Trading, (6/6/24) ES, No Trades, Choppy Range to Selloff to W-Structure (Challenging)

Описание к видео Price Action Trading, (6/6/24) ES, No Trades, Choppy Range to Selloff to W-Structure (Challenging)

The volume was lower today and prices stayed in a range then sold off with a bounce ending with a final rally. There was W-shape structure toward the end. I took no trades and trading was more challenging for me since although the market generated a lot of second entries (both long and short) many did not setup with good follow through to allow for safe high probability trades. It was a test of patience and mental acceptance that I often wasn't sure exactly what price action was showing or indicating.

Thursday, June 6, 2024
Trading hours 6:30AM-1PM (PST)
OPEN - 5369.25
HIGH - 5373.25
LOW - 5345.25
CLOSE - 5364.00
Volume 1,193,856 (total)

Potential market moving news - Unemployment Claims (5:30AM PST)

Points of interest - Time in Pacific Standard (time stamp in video)
6:51AM (3:56) Possible S Trade F2EL, coming from FBO, strong push and close below EMA, moving back into range, enough room for scalp.
7:57AM (9:20) Almost S Trade 2ES, rejection off confirmed yellow down channel, wanted a better signal bar with close below EMA.
8:10AM (9:55) Possible S Trade 2ES, rejection by yellow down channel, good signal bar close, enough room to low.
8:39AM (11:00) Possible S Trade 2ES, rejection by yellow down channel, prices are demonstrating strong bearish bias, good signal bar, range is no longer holding.
11:02AM (15:00) Possible S Trade LH, confirming F2EL, also could be seen as a 2ES, strong close and push below EMA. Skipped trade since I was unsure if I was in a developing trading range and selling into the low.
11:32AM (17:22) Possible L Trade 2EL, EMA holding, bounce off possible purple channel support, after break of the larger yellow down channel new low was tested, break of red shorten trend channel also reached new low so down phase may be complete and prices could see correction.

This video is mainly for my own learning process and to improve my trading. I decided to make it public incase it can help anyone else. 2000tick, NinjaTrader 8.

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