DislikedBack to trading. Right now I'm looking for a good down move. That probably won't happen until tonight or probably tomorrow when things get back up and rocking again in the markets.
So why am I looking down? Well just to mention trends for a minute...our day trend is headed down so our strongest trades should be in the down direction.
Normally I wouldn't like where the 4H is sitting. However, this is where reading the stochs come into play more than a mechanical trade. I expect that the down move is going to be quite good as the 4H stoch hits 20 and curls below 20 and back up to 20.
To play this, will require paying careful attention the the 15/30/1H charts. I don't want to enter the trade unless I can get at least the 30M/1H in sync on a down move, If I am wrong, then probably worst thing that will happen is I'll break even. I'll still be watching the 15M chart to give me a heads up of where the 30M/1H are headed and where we are in the cycle. I'd prefer that the 15M sync with everything to start the trade but it is likely impossible we'll see the normal sync we like because we are playing a "4H curl" low in the chart.
I am quite bias at the moment that things will continue down and the effort now is avoiding making too early an entry...want to catch it after its starts moving. If things go up...I'll re-evaluate.Ignored
I respect you both and have learned much about MTF and stoch's from you both. I dont see what the bickering is about. It seems you both trade the same way except Spud looks at the 15min and TEB does not. Teb trades from top down while Spud says he trades from bottom up. However, As I highlighted in Spud's comment (and this is not the only example) he clearly states he looks at the higher timeframe for guidance and will take a trade in that direction when the lower timeframes are in agreement. That sounds like top down to me!!!
I think TEB is offering very valid advice and we should take it into consideration when analyzing the market. I dont think he is bashing or shifting focus. These guys trade very much alike, so any comment TEB makes is relevant to this thread.
I am thankful to both Spud and Teb. I'd like to see Teb stick around here and work together with Spud on a Stoch method. Both are good traders. The collaboration could be VERY beneficial to all!!
Thanks,
Bagovino
"Skills pay the bill's!"