Sorry for the late reply just couldn't find the time !
You build upon that which you learned from Tim Morge(The scoring profile), I can only applaud that !
So the tool that you created, excecutes a scoring system with set parameters? Do you draw in the forks yourself?
Pretty neat ! Also impressive.
"PF 7, Absolutely a good peak score of interest, and it did in fact hold for quite a good pullback. This was the "C" pivot in Abe16's chart. Abe commented that after this C were a couple of good pullbacks with various reasons to go long there. Fine, yes, but this resonance at C was already a good reason to consider jumping in at C, before the WRB's that formed just after it."
Yes ! And this was my point in my previous post, to just apply this Hunt for C method on major pivots, or actually valid and solid CL's.
To then afterwards look for secondary confirmations for a reversal point at that line and boom, trade setup ! Your comment on his C resonance
showcased the difference between trading ML and AR.(Edit: When I read on through your post I saw the bearish ML's in the second chart and yeah that was a splendid long setup)
"PF 11. Nothing specific. Sort of like big parallel channels of future bars, but nothing tradeable."
That seems like a very decent CL to me, because it did not create C does not mean it is not tradeable. If you place a parallel line
at number 10 blue C, that second touch might be spot on. And not stating you should have go long because of it, although with some additional evidence
you could have. But it can be used as a fresh CL to find new reversal zones. Or even used as a bearish signal once it broke.
First comment, though I didn't mark any, is that the blue B-to-C line has a lot of pivots resonating. (Making this an MPL I suppose, for possible use as a CL, though I didn't consider it as such yet).
It is very steep but yes sure could call it a MPL or just a 0-1 is fine too hehe if you take A2 for the AL you should end up finding the RL at the red box.
And the RL would likely lead straight into the blue upper parallel where you could short.
These illustrate concepts; but historical examples are actually of relatively little interest to me. Far better would be to have more people aware of the concepts, who bring attention to live opportunities that are then tradeable.
Thank you for the detailed comment on your approach to the markets ! I'l take a good look at the Abe's thread it might actually do me well to refresh ML basics !
Once I have time I'l share another chart.
Cheers !
You build upon that which you learned from Tim Morge(The scoring profile), I can only applaud that !
So the tool that you created, excecutes a scoring system with set parameters? Do you draw in the forks yourself?
Pretty neat ! Also impressive.
"PF 7, Absolutely a good peak score of interest, and it did in fact hold for quite a good pullback. This was the "C" pivot in Abe16's chart. Abe commented that after this C were a couple of good pullbacks with various reasons to go long there. Fine, yes, but this resonance at C was already a good reason to consider jumping in at C, before the WRB's that formed just after it."
Yes ! And this was my point in my previous post, to just apply this Hunt for C method on major pivots, or actually valid and solid CL's.
To then afterwards look for secondary confirmations for a reversal point at that line and boom, trade setup ! Your comment on his C resonance
showcased the difference between trading ML and AR.(Edit: When I read on through your post I saw the bearish ML's in the second chart and yeah that was a splendid long setup)
"PF 11. Nothing specific. Sort of like big parallel channels of future bars, but nothing tradeable."
That seems like a very decent CL to me, because it did not create C does not mean it is not tradeable. If you place a parallel line
at number 10 blue C, that second touch might be spot on. And not stating you should have go long because of it, although with some additional evidence
you could have. But it can be used as a fresh CL to find new reversal zones. Or even used as a bearish signal once it broke.
First comment, though I didn't mark any, is that the blue B-to-C line has a lot of pivots resonating. (Making this an MPL I suppose, for possible use as a CL, though I didn't consider it as such yet).
It is very steep but yes sure could call it a MPL or just a 0-1 is fine too hehe if you take A2 for the AL you should end up finding the RL at the red box.
And the RL would likely lead straight into the blue upper parallel where you could short.
These illustrate concepts; but historical examples are actually of relatively little interest to me. Far better would be to have more people aware of the concepts, who bring attention to live opportunities that are then tradeable.
Thank you for the detailed comment on your approach to the markets ! I'l take a good look at the Abe's thread it might actually do me well to refresh ML basics !
Once I have time I'l share another chart.
Cheers !