Shane Blankenship
Following Live: Theory Into Practice, January 2020
This month we’re going to map and follow the E-mini S&P and EUR/USD with swings. Last month, we mapped Gold Futures and USD/CAD which I review in the video. In the review, we learned a few things that we can begin to take into our experience and future trades. We learned that the Gold landed right into the pocket of our major projected swing with an intense drop. By mapping and seeing the market in swings, the intensity was pulled out and the wave was easy to see. In USD/CAD we learned how the minor swings can pick up speed and the possibility of using gaps for minor entries along the way.
To Push The NQ or Not: The Three Types of Trades
The three basic types of trades framework help you understand what you doing when you take a trade. It also gives you a way to frame the supply/demand dynamics of momentum, expanding or reversing markets. As a principle, we can use this framework with swings, gaps, lines or any other relevant marker sloped or horizontal. In this video of the recent NQ, we see a typical pattern of minor swings pushing and then letting all those people go “Taking Out The Cheap Seats” as it expands into a type 2 major swing. Once understood, you can even specialize in the type that resonates with you learning all its nuances or train in all three.
Riffing off of One Little Line
This is a clip from a recent Language of Markets Live session. The session was about Press Structures which show an agenda and then a supply/demand imbalance. In the first part of this video, I grab a live GBP/USD chart and show that when we can isolate simple structures on a chart, it can tune us right into how to trade it. These structures show you where an effort is made by buyers/sellers and where that effort can get reversed. Next, I use a mapped CAD/JPY that a member sent in to instruct how to see a swing level press structure and how that gives you a feel for what the buyers and sellers are doing in this market and where they are doing it.