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Plan the Trade

  • #5,561
  • Mar 31, 2018 4:04pm Mar 31, 2018 4:04pm
Quoting NelsonEddy
The number 4 trade , is this correct the #1, I placed on the chart ? Apologies if this is stuff you guys have shown already. {image}
Actually that is correct I didn't take it to much congestion but good eye
  • #5,562
  • Apr 1, 2018 3:27am Apr 1, 2018 3:27am
Quoting Divergence
{quote} Actually that is correct I didn't take it to much congestion but good eye
Thanks Div, what i like about the methods you guys are discussing here is the bit I have struggled with in my studies , I fully understand (I think) the Market mechanics of supply and demand , market auction theory, accumulation and distribution which have been around since Jessie Livermore was a kid and are nothing new, however having that greater understanding of why stuff is happening , whilst it may be a great advantage to install confidence in my trading can still leave you short without real zoomed in triggers in and around these important levels. From what I've seen and impressed by with you guys is that you are possibly addressing that issue by your development of this pattern recognition in and around those fundamental levels that we know are important for the reasons stated earlier. I have also noticed something quite exciting that you are also taking trades which are essentially trend changes if I'm not mistaken but they are also Mini or Micro trend changes using the bias and momentium of the overall trend , indeed it may be a view that your micro trend changes that you guys are spotting could be confirmation of trend trades (not important but something I like) , this is quite exciting for me as I have only really looked for trades that are at Supply and Demand reversal levels , very tricky to get the entry point spot on as you probably already know. Great work guys , I glad I stumbled across you chaps.
  • #5,563
  • Apr 1, 2018 6:39am Apr 1, 2018 6:39am
You are right Nelson when ever a higher low or lower high is taken out the structure of the market has changed (trend change)That's why the 123 and 2b patterns we trade from are key areas most times of course
  • #5,564
  • Apr 1, 2018 11:48am Apr 1, 2018 11:48am
Quoting NelsonEddy
{quote} Thanks Div, what i like about the methods you guys are discussing here is the bit I have struggled with in my studies , I fully understand (I think) the Market mechanics of supply and demand , market auction theory, accumulation and distribution which have been around since Jessie Livermore was a kid and are nothing new, however having that greater understanding of why stuff is happening , whilst it may be a great advantage to install confidence in my trading can still leave you short without real zoomed in triggers in and around these important...

Exactly the point regarding micro trends. These are the pullbacks within the overall trend (but fractally are trends in their own scale). When we get a 123 that triggers, we can view it as a sign of a possible return to trend. The main impulse move will be larger than the corrective moves, thus the importance of following and determining overall trend with HH/HL's or vica versa.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #5,565
  • Apr 1, 2018 4:03pm Apr 1, 2018 4:03pm
Quoting Divergence
You are right Nelson when ever a higher low or lower high is taken out the structure of the market has changed (trend change)That's why the 123 and 2b patterns we trade from are key areas most times of course
Yes thanks Div , arrhhh 2b my next task , just trying to grasp the 123 and then intend to tackle the 2b , I suspect i need an understanding of 123 to comprehend the 2b as perhaps this is a possible adaptation or failure of the 123 pattern , looking forward to adding this to the mix. Thanks for your time on this BTW
  • #5,566
  • Apr 1, 2018 4:17pm Apr 1, 2018 4:17pm
Quoting The Cableguy
{quote} Exactly the point regarding micro trends. These are the pullbacks within the overall trend (but fractally are trends in their own scale). When we get a 123 that triggers, we can view it as a sign of a possible return to trend. The main impulse move will be larger than the corrective moves, thus the importance of following and determining overall trend with HH/HL's or vica versa.
Cheers CB , this is an exciting path for me to explore and opens up more possible opportunities especially with the bias flow of the trade supporting your S&D initial read. Nice Finding Supply and Demand Levels and then adding into that read the work you guys are doing with reading the market and it's orderflow of the trend may be a powerful read indeed. Looking forward to some forward testing next week. Thanks for your help bud intend to have a good nose at understanding 2b tomorrow and it's relationship with the 123. Any basic stuff or explanations you may have on 2b would be mucho appreciated This is an exciting thread you have created here IMO
  • #5,567
  • Apr 1, 2018 4:37pm Apr 1, 2018 4:37pm
heres a 2b setup nelson
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  • #5,568
  • Apr 1, 2018 4:42pm Apr 1, 2018 4:42pm
heres another one
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  • #5,569
  • Apr 1, 2018 4:48pm Apr 1, 2018 4:48pm
heres whats actually happening
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  • #5,570
  • Apr 2, 2018 2:35am Apr 2, 2018 2:35am
I try hard nowadays not to post Elliott Wave theory and labelling in my charts as I now concentrate as much as possible on recognising levels of obvious Supply or Demand, however, i am always cautious after i see a strong move and this can often be viewed as what's known as the 3rd wave (of 5 in an impulse move), This will be the wave which is the most powerful and will stretch other indicators (RSI/MACD etc), thus when the next slight HH comes in wave 5, it creates Regular Divergence;

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There often follows a 2B when the HL of the end of wave 4 is broken.

As Harold (Div) posted above, there will be many examples. We really only want the trend broken slightly (in H's last post, notice there is just a slight HH before the pullback to the Demand at the start of the move - perfect). Even though it was only an 'ABC' corrective move (PA went on to print another LL thereafter), it still gave a winning trade...
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  • #5,571
  • Apr 2, 2018 7:00am Apr 2, 2018 7:00am
lots of waiting between trades
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  • #5,572
  • Apr 2, 2018 7:04am Apr 2, 2018 7:04am
Quoting Divergence
lots of waiting between trades {image}
Looks like a Wolfe wave pattern at the low.
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  • #5,573
  • Apr 2, 2018 7:08am Apr 2, 2018 7:08am
Quoting BinChenUt
{quote} Looks like a Wolfe wave pattern at the low. {image}
no just a higher high higher low pullback to get back into up trend
  • #5,574
  • Apr 2, 2018 7:41am Apr 2, 2018 7:41am
Dow Testing Last wednesday's naked POC.
Nice response so far. First target scaled off.
Second third portion locked in.
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  • #5,575
  • Apr 2, 2018 7:44am Apr 2, 2018 7:44am
took a thrashing:

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Become the casino
  • #5,576
  • Apr 2, 2018 7:47am Apr 2, 2018 7:47am
Quoting erasmus66
took a thrashing: {image} {image} {image} {image}
The market is too weak to have a fully stretched bullish swing.

Divergence,
May I ask what chart you have? Is that tick chart ?
  • #5,577
  • Apr 2, 2018 7:53am Apr 2, 2018 7:53am
Quoting BinChenUt
Dow Testing Last wednesday's naked POC. Nice response so far. First target scaled off. Second third portion locked in. {image}
Only the first scalp target. No more. The rest are stopped out.
  • #5,578
  • Apr 2, 2018 8:02am Apr 2, 2018 8:02am
Quoting BinChenUt
{quote} The market is too weak to have a fully stretched bullish swing. Divergence, May I ask what chart you have? Is that tick chart ?
133 tick chart
  • #5,579
  • Apr 2, 2018 8:09am Apr 2, 2018 8:09am
I thought it was a holiday today, but the volume is mental again, i see)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #5,580
  • Apr 2, 2018 8:24am Apr 2, 2018 8:24am
Quoting The Cableguy
I thought it was a holiday today, but the volume is mental again, i see)
Holiday only in Europe not usa and the volume and nq keeping going strong
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