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  • #9,081
  • Nov 17, 2015 6:52am Nov 17, 2015 6:52am
Quoting specul8r
One more question, so we are not taking single candle formations? As in 2b's or 123's formed by single candles..
doing 123 amd 2b back into trend or only 123 at top or bottom of market but waiting for price 2 close 2 ticks above pt 2 then have price come back to it. All this on a line chart
  • #9,082
  • Nov 17, 2015 7:10am Nov 17, 2015 7:10am
Quoting specul8r
Forgive me for feeling sceptical about the change.
Skepticism, unlike cynicism, is essential imho... but never rely on anyone else's way of doing things, test and sim trade yourself until consistently profitable (say, 6 consecutive weeks).

It is amazing how many people omit this essential and obvious step.
  • #9,083
  • Nov 17, 2015 7:28am Nov 17, 2015 7:28am
Thanks for the reply guys -

What did you mean by small set up? how would that be identified?
  • #9,084
  • Nov 17, 2015 8:27am Nov 17, 2015 8:27am
Quoting specul8r
Thanks for the reply guys - What did you mean by small set up? how would that be identified?
here is a small area setup and what to do in first chart the 2 other charts are my 2 winning trades notice those 2 123 setups happen in same area
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1.png Size: 114 KB
Click to Enlarge Name: 2.png Size: 114 KB
  • #9,085
  • Nov 17, 2015 9:12am Nov 17, 2015 9:12am
Quoting Divergence
{quote}here is a small area setup and what to do in first chart the 2 other charts are my 2 winning trades notice those 2 123 setups happen in same area {image} {image} {image}

Thank you for clearing that up Divergence,

So a small congested area is what is considered a small trading area.
  • #9,086
  • Nov 17, 2015 5:25pm Nov 17, 2015 5:25pm
Quoting Divergence
{quote} doing 123 amd 2b back into trend or only 123 at top or bottom of market but waiting for price 2 close 2 ticks above pt 2 then have price come back to it. All this on a line chart
Divergence, entry is when price pulls back to pt 2 after closing two ticks above or below?

Are you still using the breakout and then enter when pull back 4 or 5 ticks before breakout?

If we miss the first 123, do we still enter on the subsequent one i.e wave 5?

Are you still trading the hats?

I am still doing my own testings, just want to touch base with you. Thanks for all your help and from fellow traders here too. Much appreciated
  • #9,087
  • Nov 17, 2015 6:32pm Nov 17, 2015 6:32pm
Quoting zenline
{quote} Divergence, entry is when price pulls back to pt 2 after closing two ticks above or below? Are you still using the breakout and then enter when pull back 4 or 5 ticks before breakout? If we miss the first 123, do we still enter on the subsequent one i.e wave 5? Are you still trading the hats? I am still doing my own testings, just want to touch base with you. Thanks for all your help and from fellow traders here too. Much appreciated
using just line charts. 123 and 2b s back into trend 1 tick below pt 2. Only top and bottom 123 do we wait for 2 closes and let it pullback to pt 2. If it doesn't connect take the entry where price came back.its sort of a elliot wave/hook setup
  • #9,088
  • Nov 17, 2015 11:34pm Nov 17, 2015 11:34pm
So 123, 2b to get back in trend.

For reversals only the Ross Hook or a pending order at point 2 where the price has closed a minimum of 2 ticks past point 2.
  • #9,089
  • Nov 18, 2015 6:35am Nov 18, 2015 6:35am
Quoting specul8r
So 123, 2b to get back in trend. For reversals only the Ross Hook or a pending order at point 2 where the price has closed a minimum of 2 ticks past point 2.
yes and it's 2 bar closing prices above pt 2
  • #9,090
  • Nov 18, 2015 7:00am Nov 18, 2015 7:00am
Thanks Divergence, Makes more sense - more precaution taken for a market reversal.
  • #9,091
  • Nov 18, 2015 2:55pm Nov 18, 2015 2:55pm
Can someone please post a pic of the setup for reversal. Because above below all depend on talking bull or bear. Thx.
  • #9,092
  • Nov 18, 2015 3:04pm Nov 18, 2015 3:04pm
Quoting minute
Can someone please post a pic of the setup for reversal. Because above below all depend on talking bull or bear. Thx.
look at chart on post 9068
  • #9,093
  • Nov 18, 2015 8:46pm Nov 18, 2015 8:46pm
​ok, thanks I see I see now. closed two times.. one line is very narrow angle but slight bend is where it closed. I missed it. Now I can see which is point two and also get alternate entry.thx.
  • #9,094
  • Nov 19, 2015 5:15am Nov 19, 2015 5:15am
down trend let's see what happens
Become the casino
  • #9,095
  • Nov 19, 2015 5:46am Nov 19, 2015 5:46am
possible 123 back to trend..
  • #9,096
  • Nov 19, 2015 7:12am Nov 19, 2015 7:12am
what a nasty day so far:

Attached Image (click to enlarge)
Click to Enlarge Name: cl19nov15.png Size: 40 KB
Become the casino
  • #9,097
  • Nov 19, 2015 8:32am Nov 19, 2015 8:32am
might get late hat
Become the casino
  • #9,098
  • Nov 19, 2015 6:13pm Nov 19, 2015 6:13pm
I have been using a filter to enter setups back into trend 1 of them if area is small 2b wait for it to be followed by a 123. Also make sure these setups are at s and r area
  • #9,099
  • Nov 19, 2015 9:15pm Nov 19, 2015 9:15pm
I have similar questions.
How to avoid the coming whipsaw?
How to know the ending of current trending so that we can avoid that pullback because the pullback will be a reversal?


Quoting specul8r
Hi Divergence, I have following for a while now. I am trading live CL futures. I had always used the 13 range bar - I see that the rules have changed.. Forgive me for feeling sceptical about the change. But since you are the teacher - Q) would you mind reassuring me that the new rules have seen better back test results than the original? As of now I believe the rules to be a trend between 0500 to 0830 followed by your previous post. Also - when would be best to sit on our hands? I have had a few losses on trades that in hindsight did not seem to...
  • #9,100
  • Nov 20, 2015 12:10am Nov 20, 2015 12:10am
Quoting Divergence
I have been using a filter to enter setups back into trend 1 of them if area is small 2b wait for it to be followed by a 123. Also make sure these setups are at s and r area
I have another filter suggestion - I have been looking into elliot wave and the 123. Since 123 is an elliot wave pattern. The filter is to only take 123 reversals at the end of a trend, or the end of a correction...not while it is meandering around between two points. Just my two cents.
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