Price wasn't doing a lot of follow threw so just in grabbing mode a little here and there before you now it your up 25-30 ticks when you get into profit of +6 It's a free trade so getting anything is better than getting nothing
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Invincibility lies in the defence; the possibility of victory in the attack
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Hi JT,
Just replying (here) to your post 126 on the emini thread, so as to keep it cleaner over there.
Regarding wave counts, i've posted before about a minor subwave (i) being retested commonly, which would be of the trigger leg. It is basically the same as we are looking to do, but might just throw up a variant that others may adopt...
Let me explain with charts;
and so you can see that the pullback retests the minor subwave (i) of the trigger leg as suggested. This time it was clear, sometimes if the set-up is smaller, it looks more as if it is merely the candle that gets retested;
The biggest problem is having the discipline to wait for such, as you'll encounter many trigger and runs without the pullback and if PA has moved on substantially, before the subsequent pullback, it could be after that particular phase is complete, thus knowing how far to let the pullback run and still be valid is key (imo)
Just replying (here) to your post 126 on the emini thread, so as to keep it cleaner over there.
Regarding wave counts, i've posted before about a minor subwave (i) being retested commonly, which would be of the trigger leg. It is basically the same as we are looking to do, but might just throw up a variant that others may adopt...
Let me explain with charts;
and so you can see that the pullback retests the minor subwave (i) of the trigger leg as suggested. This time it was clear, sometimes if the set-up is smaller, it looks more as if it is merely the candle that gets retested;
The biggest problem is having the discipline to wait for such, as you'll encounter many trigger and runs without the pullback and if PA has moved on substantially, before the subsequent pullback, it could be after that particular phase is complete, thus knowing how far to let the pullback run and still be valid is key (imo)
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- Jan 19, 2017 9:13am Jan 19, 2017 9:13am
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There is another aspect to watch for and that is S/R points (not zones), this is where it will be pinpoint accurate as opposed to a general Supply/Demand area. Let me show with chart again;
So you can see that either side of current PA, the last LL, now becomes the point for LH to react (Support turned Resistance), but of course, noticing that it happens early, is key, as it is obviously easy to suggest with the benefit of hindsight. Noticing that it is reacting and trending as such early though, may set you up for a good couple of trades thereafter... Just a thought, i have no idea how often the emini might trade this way, but i gather others are applying it elsewhere (oil) etc...
So you can see that either side of current PA, the last LL, now becomes the point for LH to react (Support turned Resistance), but of course, noticing that it happens early, is key, as it is obviously easy to suggest with the benefit of hindsight. Noticing that it is reacting and trending as such early though, may set you up for a good couple of trades thereafter... Just a thought, i have no idea how often the emini might trade this way, but i gather others are applying it elsewhere (oil) etc...
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- Jan 19, 2017 11:30am Jan 19, 2017 11:30am
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- Jan 19, 2017 4:10pm Jan 19, 2017 4:10pm
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There is another aspect to watch for and that is S/R points (not zones), this is where it will be pinpoint accurate as opposed to a general Supply/Demand area. Let me show with chart again; uj14-01-17a.png;2147021 So you can see that either side of current PA, the last LL, now becomes the point for LH to react (Support turned Resistance), but of course, noticing that it happens early, is key, as it is obviously easy to suggest with the benefit of hindsight. Noticing that it is reacting and trending as such early though, may set you up for a good...
I do also think that Harold's latest variation simplifies things to the point that the wave analysis is unnecessary to achieve pretty much the same result. If wave analysis is part of you as a trader, then it can give extra insight and depth. Unfortunately, it gives my old brain a headache... (in computing terms, mine is the equivalent of an Intel 386 chip...
).
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- Jan 19, 2017 4:17pm Jan 19, 2017 4:17pm
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- Jan 20, 2017 2:48am Jan 20, 2017 2:48am
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{quote} I do also think that Harold's latest variation simplifies things to the point that the wave analysis is unnecessary to achieve pretty much the same result. .
Absolutely, i've been saying the same things elsewhere - that it's funny, but two different approaches and thousands upon thousands of hours of studying and essentially it comes down to the same thing. I use labels, but only because i simply can not view the market differently anymore. I thought it was a curse for a while, if i'm honest, but since i started concentrating on scalping corrective waves, things improved, no end...
A quick +10 to start the session, (but should have trailed and bagged a few more), you know what it's like... get some in the bag first off!
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- Jan 20, 2017 8:55am Jan 20, 2017 8:55am
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- Jan 20, 2017 9:37am Jan 20, 2017 9:37am
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actually CG the entry was lower heres where move started {image}
Indeedy do H, i went a fraction early on first retest of my red wave'(a)';
This is how i was viewing it in my mind at the time, where originally i thought end of red '(d)', was where i now have it marked 'iii'... hey ho, it was moving fast at the time.
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every Saint has a past. Every Sinner has a Future
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every Saint has a past. Every Sinner has a Future