In this week's episode, sprocket888 is joined by viperxl007. They start by adding more information on US Treasuries and buying power. sprocket888 mentioned last week that this was a valid method to utilize the capital in your margin account marked for buying power expansion. He confirms this does indeed work. The rest of the episode is a working session on charting price action. This is something that needs continuous practice and learning. Even the Blockhead traders don't have this down to pure science (but we are trying to). This episode is an "open mic" session of trying to chart out the Russel index to "gain a sense of direction and next steps that are most probable to occur.

• 00:00 Disclaimer
• 00:18 Intro
• 01:41 Update on the US Treasuries from the last episode
• 08:03 Indexes and Price Action, working session
• 11:13 Bull or Bear, how to tell?
• 12:45 Let's start at the Monthly levels
• 13:23 Where is the most recent failure
• 21:25 Now, let's step into the weekly chart
• 27:11 Range identified, what is next?
• 27:47 Inversion can remove bias
• 32:00 Double-clicking into the Daily timeframe
• 38:02 The final ranges to hold and lose
• 46:09 You can keep 'zooming in' by clicking down to 4hr
• 50:16 Starting at the monthly is not required
• 51:35 I guess…..just practice
• 53:54 viperxl's go/no go thought process
• 57:11 Establish a Risk to Reward ratio to know if you should "go for it."
• 60:47 sprocket hopes to gather more directional bias vs. a tangible play
• 63:41 Wrapping the closing candle of the failure is a nugget to take away
• 64:43 Objective approaches will lead to repeatability
• 66:12 Conclusion: Observing others and their methods will yield nuggets of data for you
• 68:06 Outro

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Follow sprocket888's trades: https://www.thetagang.com/sprocket888/