Price Action Trading, (5/22/24) ES, 2W, Range to Selloff to Three Leg Rally

Описание к видео Price Action Trading, (5/22/24) ES, 2W, Range to Selloff to Three Leg Rally

Market started the day in a 10 point range then sold off in two-three legs then reversed and rallied back in three legs. Prior to the FOMC release price action and volume were low similar to the prior few days. Volume increased after the news release. I took two trades and was profitable on both. There were a few setups that I considered "Almost" trades but one factor or another gave me pause so I skipped them.

Wednesday, May 22, 2024
Trading hours 6:30AM-1PM (PST)
OPEN - 5338.00
HIGH - 5345.00
LOW - 5306.75
CLOSE - 5328.00
Volume 1,202,197 (total)

Potential market moving news - FOMC Meeting Minutes (11AM PST)

Points of interest - Time in Pacific Standard (time stamp in video)
7:11AM (3:28) Trade 1 (G) 2EL, bounce off orange up channel, multiple test of bottom of range, signal bar doji, entry after bar was nearing close and pushing back up over EMA and engulfing signal bar.
7:45AM (5:47) Almost L Trade 2ELV & FBO, double bottom, measured move with two legs down complete, break out of orange up channel was too sideways and range bound, wanted a close above the previous red bar, wait for LH confirmation.
7:50AM (7:08) Almost L Trade HL, confirming the 2ELV, good signal bar, low risk. Skipped trade since wanted a clear push into the range. Unsure if this would become FOPB and if EMA would also act as resistance.
10:42AM (9:54) Almost S Trade 2ES & F2EL, break of the blue down channel looking to test lows, bounce rejection off top of orange down channel, wanted a bounce rejection off EMA.
10:52AM (11:21) Possible S Trade 2ES, break of orange down channel looking to test lows, EMA holding prices down, possible third touch confirmation of green down channel, good signal bar with low risk.
11:20AM (14:03) Almost S Trade LH, confirming F2EL, possible rejection of down green channel, need the signal bar to break below the low of previous bar and ideally not be doji.
11:56AM (15:41) Possible L Trade 2EL, aggressive, want a better signa bar, bounce off EMA, green down channel has tested low, yellow up channel needs test of high.
12:15PM (16:40) Trade 2 (G) 2EL, signal bar good, waited for confirmation of 2EL, trigger bar was read but closed bullish and above EMA and break out of previous resistance, enough room for scalp.

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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