Advanced Trading Methods

[Y worry Murray]

Unfortunately volume on a 1" chart is not that reliable but PA is. Here's the lunch time up trend yesterday during which the 6E repeatedly found support and ultimately resistance (end of trend) on the 20 min Donchian. No TF is ideal all the time but I find it to be the best compromise.

I much prefer trading trending markets to oscillating as I suspect most do. If the market is trending strongly and the stair steps are >5t one can buy/sell the Donchian channel BOs and not worry about buying a Hx or selling a Lx. Although buying above a HL in an up trend or selling below a LH in a down trend is a safe bet.

Unfortunately in strong trends these opportunities do not always present themselves hence buying above the 20 min Donchian support and selling below it. Of course in a stong tend price does not always reach the 20 Donchain but when it reaches it in the proximity of a TL and/or 5 min 20 EMA, PRT, Daily pivot etc. they all add confidence to the trade.

Ultimately one has to read the PA and decide for himself where the best R/R is and enter the trade at that point. PA on 1 min bars speaks volumes. Unfortunately the IB data does not always the outlying ticks so I frequently get errant bars and sometimes errant fractals and TLs.

The more I use a 1 min chart to trade from the more I like it. If I could just stop myself from trading when PA is not ideal! I like small bars which are trending as in the attached chart.