Classic Price Action Trading Daily Review List

Inspired by classic technical analysis and modern educators like Dr. Al Brooks, Ali Moin-Afshari, Edwards & Magee and others.

Trend lines

Bear trend line is above / Bull trend line is below

Draw from spike vs draw from 1st pullback along channel

Trend lines

Entry

Stick with Always in Direction

• Fade the CT (pullback)

• What if you got stuck? How to manage it?

Trend channel line

Bull draw above / Bear draw below

Trend channel line

• Use as an exit? Show overshoots

• When is it a BO+FT?

Double Top

Neckline MM down

Double top failed

• Sideways? MM up?

• Drift back to Breakout point?

Double bottom

Neckline MM Up

Double bottom failed

• Sideways? MM down?

• Drift back to Breakout point?

Wedge top

• 2 legs sideways to down

• Is the wedge trend or counter-trend?

• Did it break a trend line?

• Correction - ½ # bars and last 2 BX

• WBRF variations

Wedge top failed

MM Up

Test later on

Wedge bottom

• 2 legs sideways to up

• Is the wedge trend or counter-trend?

• Did it break a trend line?

• Correction - ½ # bars and last 2 SX

• WBLF variations

Wedge bottom failed

MM Down

Test later on

Reasonable buy the close / sell the close

Reasonable buy the close / sell the close failed

Reasonable Stop Entries:

• Buy on a stop 1 tick above the high of prior bar

• Sell on a stop 1 tick below the low of prior bar

Examples

• Spike H1 / L1

• Spike H2 / L2

• Spike H3 / L3

Reasonable Stop Entries Failed:

• Buy on a stop 1 tick above the high of prior bar failed

• Sell on a stop 1 tick below the low of prior bar failed

Examples

• Spike H1 / L1 Failed

• Spike H2 / L2 Failed

• Spike H3 / L3 Failed

Always In / Always in 1st PB

Always in

• Find Always in areas

• Where does always-in finish?

  • ie Find TR areas / BOM

Moving Average Gap Bar entries

MAG

Moving Average Gap Bar entries

Success v Failure

Scalp v Swing?

Breaks trendline

Test Extreme

Pullbacks

Pullbacks - 2LPB Entries

• Fade the BO of the 1st pullback entry

Leg Counting

• Spike and 3 legs vs 3 legs

• TR so 2 legged moves? Or 2nd leg has 2 legs

Best Trades

• What were the best 1 - 3 - 5 trades of the day?

• When was it

• Examples

  • AIL 1st PB / AIS 1st PB

  • CSC bars

  • Spike H1 / L1

  • MTR Up / MTR Down

Yesterday Magnets

YDH and YD Low

• BO / FBO

• Trades to / from them

Fenster - Bar Flip

• Good bar stop entry triggered

• Went above more ½ bar - 1 bar

• Come back and MM bar up

Consecutive (CSC) good bars

• Consecutive bull bars (good size) closing on high and at least one above MA

• Consecutive bear bars (good size) closing on low and at least one below MA

Target:

• ½ - 1R - 2R?

Notes:

• Better if breaking out of something (anything)

• What happens if its in a late leg?

Microchannel Entries

Swing Stop Hit - 1 more leg

• Last swing stop was hit

• Don’t reverse yet

• Last leg coming and final profits soon

• Remember look at inside bar (IB)

MM up / down from here?

Spike, Pullback, Channel

• Find Spike, PB, CH, TR areas

Channel is a test target

• Spike Channel then,

• TR tests start of channel

BO and 2nd leg training

• Zig zags - find all 2nd legs

• BO and ½ BO distance in that direction?

• Where did it fail?

• Did that get a MM?

• Are there 10+ trades a day?

Leg 2 / 3 Breaks - MM Up / Down

Bear case:

Going down leg 2 then leg 3,

Then we trade above leg 3 - measured move up?

We go above leg 2 - measured move up?

• Hit MM?

• 2x MM?

• Miss MM and return to BOP?

MTR

Trendline Break New H Reversal

MTR

Trendline Break New L Reversal

Walmart - Swing trade

• Every day 40% range trade

• Possible candidates that worked vs failed?

• How to stay in or chase it?

Opening Range BO MM

• What about other BO + FT outside of a range for a MM in that direction?

Pullback entries

• 50% PB → MM (Mixi)

CHPB

• Pullback into lower 1/3 / ¼ - TR trading

• Opposite side tries then and loses? Magnet test target

Spikes

• 3 CSC + 1

• 4 CSC + 1

• 4 CSC + 1

• Spike succeed vs fail

• 1R vs ½ R