Disliked{quote} That entry actually occurred right after the open, but most of the set up was premarketIgnored
- #10,422
- Feb 24, 2016 9:41am Feb 24, 2016 9:41am
- | Joined Feb 2006 | Status: Trader | 1,392 Posts
... I am using jtrades's trick of a OHLC bar chart with a 1 period simple moving average of the closes.
.I have taken the SMA(1) off for the time being as it really gets me when the line-formed pattern "undoes itself" as it sometimes can ... but I have trained myself to see the 123 and 2B entries anyway (& as you know I also take "with-trend 2B entries", ie. not strictly according to Trader Vic).
50+ ticks a day is outstanding.
Btw, H - why no Wednesdays now that you're off the olive oil - surely the Inventories report is "just another" Red news ?
Or are you finally taking up golf, so you can meet dd & I at Pebble Beach for the FTTT Invitational 2016
- #10,423
- Feb 24, 2016 10:11am Feb 24, 2016 10:11am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
Short @16311 Double Top play
- #10,424
- Feb 24, 2016 10:15am Feb 24, 2016 10:15am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
Short @16311 Double Top play
- #10,425
- Feb 24, 2016 10:19am Feb 24, 2016 10:19am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
{quote} Moved stop to lock in +20 ticks profit {image}
- #10,426
- Feb 24, 2016 10:27am Feb 24, 2016 10:27am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #10,428
- Feb 24, 2016 10:48am Feb 24, 2016 10:48am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
{quote} I trade off the price action recorded by the ohlc for the most part, and I use the line to help highlight what is unfolding. Just stopped at 291 for +20. Total for the day so far is 153 ticks * 3 contracts = 459 ticks total. If I had done this in my little project account, I would have more than doubled the starting balance today alone. And I am trading both the ES and the YM today, and the YM has been much easier, imo.
Loving it dd!!!!
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #10,430
- Edited Feb 25, 2016 1:30am Feb 24, 2016 1:18pm | Edited Feb 25, 2016 1:30am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
It is always handy to have an overall plan as to what to expect.
How to predict turning points to the pip;
FTSE last week;
wave 5 is often 61.8% wave 3, but we do not yet know what shape the corrective move will take.
Current chart after todays PA;
IMO an irregular 'B' wave just occured, (making a fresh high). The significance of which indicates underlying strength. Wave 'C' was exactly 161.8% of wave 'A'.
I predict a strong and extended upmove to ensue. This will be my overall bias.
Despite my preference to small timescales (1min or 30sec), the above is the hourly and has a good dose of Hidden Divergence after wave 'A' completes. My go on first parabolic entry after HD has appeared would have worked well!
I may at some stage look to incorporate both EW and our usual 123 trades in order to try to get a few longer term trades away. EG, if i could have predicted the end of the downside move and traded the 123 at the low, (effectively waves 1&2 of the 5w move), i could have run the position. This was always my intention through studying EW. I found that it was not so easy in real-time, (of course, nothing seldom is!), but occasionally, it is relatively easy to spot a cycle complete (as with first chart). As i always maintain, EW on it's own is not very reliable, but knowing what fib levels are likely to line up can prove/disprove a likely count. The charts speak for themselves, i think... (The 5th wave turns to the very pip as does the end of the 'C' wave).
It is scaleable to any and every time scale, thus predicting when to run a position from a 123 entry might reap rewards.
How to predict turning points to the pip;
FTSE last week;
wave 5 is often 61.8% wave 3, but we do not yet know what shape the corrective move will take.
Current chart after todays PA;
IMO an irregular 'B' wave just occured, (making a fresh high). The significance of which indicates underlying strength. Wave 'C' was exactly 161.8% of wave 'A'.
I predict a strong and extended upmove to ensue. This will be my overall bias.
Despite my preference to small timescales (1min or 30sec), the above is the hourly and has a good dose of Hidden Divergence after wave 'A' completes. My go on first parabolic entry after HD has appeared would have worked well!
I may at some stage look to incorporate both EW and our usual 123 trades in order to try to get a few longer term trades away. EG, if i could have predicted the end of the downside move and traded the 123 at the low, (effectively waves 1&2 of the 5w move), i could have run the position. This was always my intention through studying EW. I found that it was not so easy in real-time, (of course, nothing seldom is!), but occasionally, it is relatively easy to spot a cycle complete (as with first chart). As i always maintain, EW on it's own is not very reliable, but knowing what fib levels are likely to line up can prove/disprove a likely count. The charts speak for themselves, i think... (The 5th wave turns to the very pip as does the end of the 'C' wave).
It is scaleable to any and every time scale, thus predicting when to run a position from a 123 entry might reap rewards.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #10,431
- Feb 24, 2016 1:26pm Feb 24, 2016 1:26pm
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
It's not relevant to the method here, of course, but any chartist should at least, find this interesting.
A month ago i posted a likely end to a downside move on the Dow;
Wave 5 had an ending diagonal and was 161.8% of wave 1
one month later;
(Obviously i wasn't trying to predict exact shape/timescale!)
A month ago i posted a likely end to a downside move on the Dow;
Wave 5 had an ending diagonal and was 161.8% of wave 1
one month later;
(Obviously i wasn't trying to predict exact shape/timescale!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #10,432
- Feb 24, 2016 2:02pm Feb 24, 2016 2:02pm
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
The relevance to the thread would be as i stated the other day. Knowing when to expect a 123 is half the battle. Then, when they occur, it is more of an excuse to enter a trade. I was away today and yesterday and it's really starting to get to me that i keep playing catch up when i get back. I know 100% that i would have traded this with a decent chunk if i was at a screen in real time today.
This is the 15min chart of my first FTSE chart above. As i said, i was on the look out for the 161.8% fib level of the first corrective wave ending at the blue line. A 123 away from this point is for me, about as nailed on as you can expect.
Just for ref, here is the 1 hour chart again, with wave 'C' being exactly 161.8% of wave 'A';
Now on the 15min chart, we get the 123 off of the line;
This is the 15min chart of my first FTSE chart above. As i said, i was on the look out for the 161.8% fib level of the first corrective wave ending at the blue line. A 123 away from this point is for me, about as nailed on as you can expect.
Just for ref, here is the 1 hour chart again, with wave 'C' being exactly 161.8% of wave 'A';
Now on the 15min chart, we get the 123 off of the line;
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #10,433
- Feb 24, 2016 2:09pm Feb 24, 2016 2:09pm
- | Joined Feb 2006 | Status: Trader | 1,392 Posts
I may at some stage look to incorporate both EW and our usual 123 trades
Take your time, CG, take your time - the thread's only been going 5 years...
Now where's the rest of that delicious red wine ...
- #10,434
- Feb 24, 2016 2:27pm Feb 24, 2016 2:27pm
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
{quote} Take your time, CG, take your time - the thread's only been going 5 years... Now where's the rest of that delicious red wine ...
Well JT, aint that the truth?! I do not know why it takes me so long to grasp something like this. I always thought of myself as quite a switched on guy, but for some reason, regarding trading, i appear to have to make the same mistakes dozens of times before i learn! haha!
Now... where's me vodka
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #10,435
- Feb 25, 2016 12:00am Feb 25, 2016 12:00am
- | Joined Feb 2006 | Status: Trader | 1,392 Posts
{quote} Well JT, aint that the truth?! I do not know why it takes me so long to grasp something like this. I always thought of myself as quite a switched on guy, but for some reason, regarding trading, i appear to have to make the same mistakes dozens of times before i learn! haha! Now... where's me vodka
... pass the vodka !
- #10,436
- Edited 12:58am Feb 25, 2016 12:35am | Edited 12:58am
- | Joined Feb 2006 | Status: Trader | 1,392 Posts
Now trading a 3 lot to try to catch some runners...
123 long
Edit : +15 +34 hit, stop trailing with +20 locked.
Edit2 : +20 trail out, so +69 on single contract basis, enough for the morning; back later for some NQ Afternoon...
123 long
Edit : +15 +34 hit, stop trailing with +20 locked.
Edit2 : +20 trail out, so +69 on single contract basis, enough for the morning; back later for some NQ Afternoon...
- #10,437
- Feb 25, 2016 4:09am Feb 25, 2016 4:09am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts