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.
Major/Minor Swings
Following Live: Theory Into Practice, December 2019
Last month we mapped and followed an oil and Aussie chart with simple swings and gaps and these are some of the lessons we learned from this: We saw how minor swings can break and expand and into a major leg. I did a recent post on this in “Taking Out the Cheap Seats“. We learned how mapping swings and seeing in swings can take out the intensity of a chart, thus relaxing us and changing our experience of trading.
This month we will map and follow USD/CAD and Gold Futures.
Taking out the Cheap Seats, Minor Expanding Into Major
In previous posts, I showed how to identify swings and then taught how to make a further distinction of minor and major swings. With this understanding, we can come up with various ways to trade and read a market. In this video, I will show how to take advantage of a minor swing expanding into a major swing taking out the momentum players, the cheap seats. You can also see this represented by a Median Line set, like in the 90-minute oil chart from the “Following Live: Theory Into Practice” post.
Map Any Market in Any Time Frame, Part 3 of 3
Changes in price flow are signaled when swings are broken—when a downswing is broken to the upside, for example. Seeing and making these distinctions intimately connects us to the rhythm of a market and offers the trader greater flexibility in trade options. In this last part of our three-part series on mapping markets in any time frame, we look at the anatomy minor swings and Last Swing Broke.
Summing up the series, we learned how to use swings to map any market in any time frame. This is a practical tool that can be readily applied by a trader at any level.
Following Live: Theory into Practice November 2019
Every month I will pick a futures market and a currency market for us to follow. At the end of each month, I will review these markets to see what we can learn and pick 2 more to follow for the next month. This is where we take theory and ground it into practice. This month’s charts will be Oil Futures and AUS/USD. I had done some previous posts: Map Any Market in Any Time Frame and Do It With Gaps, so we will use these basic methods for structuring our markets.
How you approach this or any exercise determines what you will get out of it. My objectives for this exercise are: to train in isolating relative structures, learn to set myself aside and follow price, learn to change with change as the market flows, learn to learn from price flow itself. I will put this Following Live segment into our newsletter every month, so subscribe if you’re not already on the list and want updates on these posts.
Map Any Market in Any Time Frame, Part 2 of 3
This is the second of our three-part series on Mapping Any Market in Any Time Frame. In Part I, we learned how to structure markets using only swings. Simple enough, but markets are not static. They are dynamic systems. This means any effort at mapping market structure has to also be dynamic. This is price flow. So we follow and, in following, we develop a connection to a market’s rhythms and learn to change with change. This is fundamentally one of the most important lessons in a trader’s education.
In this video, I introduce the practice of following live markets and highlight the basic tools for developing this practice.