28/10/2022 - Bar by Bar Trading Day Analysis - Uptrend with Spike & Channel

Hey traders! I want to share with you a bar-by-bar trade analysis of today's trading day.
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The platform we use is Ninjatrader 8. We follow Mack's and Al Brooks PAT rules.
Learn day trading live with no fancy indicators and price action only. To become consistently profitable it is essential to understand the importance of momentum, support and resistance. Understand the meaning behind candlesticks and what is printed on the chart with every bar.

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All information is given for educational purposes and is not intended to be treated as financial, investment, tax, or other advice. TPT does not provide recommendations and is not responsible for investment actions taken by viewers. Figures that are quoted refer to the past and past performance is not a reliable indicator of future results.

[Graldaddy]

I enjoyed it. I like both your style and Marco's.

[patrickmorrison]

Thanks Taylor! Very insightful. You mention things like, "setup bar is no good", and "look at the three strong bear bars pushing through the ema" which I've heard you say before, but now I can see the importance of paying attention to those local details. That's something I hadn't really done before. I'm glad you guys have made the price action lectures available. Well worth it. Thanks again!

[beachbum]

Many thanks to you. You make this look so easy. Thanks again.

[earthheavenisa]

Hi Taylor, thank you! at 14:58, there are three bullish bars - does that mean there is an uptrend at play and we need to draw a short-term channel? - to be on the look out for a hi-probability long? Thank you for another super bar by bar session ! I notice you always inform us "3 bullish bar" when it happens.

[engeltrades]

Thanks for the review, Taylor. Great job filling in for Marco.

Few questions:
1) What is your win rate like?
2) Is the timezone EST? How many minutes before the close do you stop trading?
3) As you were going bar by bar, it seemed like even you were not sure of the upcoming price action. I think that is really useful as it can give a hint to your reasoning when a tricky setup shows up. Does Marco also do the same or is he more or less aware of the upcoming price action?