Whipsaw on monthly vwap. sitting out until we have a clear direction.
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- #806
- Edited Mar 4, 2017 6:40am Mar 3, 2017 7:53pm | Edited Mar 4, 2017 6:40am
0 ticks (-5 ticks if we include commissions). On the -15 trade, that was the time an FOMC member spoke. Comments/Advice/Suggestions are welcome.
03/03/2017
edit #1: Just noticed that in the last three trades, a 2B formed prior to the order getting triggered. This would've kept me from taking the trade
edit #2: I've been manually backtesting the method. Here are the results (please feel free to comment)
03/01/2017
02/28/2017
02/27/2017
02/24/2017
03/03/2017
edit #1: Just noticed that in the last three trades, a 2B formed prior to the order getting triggered. This would've kept me from taking the trade
edit #2: I've been manually backtesting the method. Here are the results (please feel free to comment)
03/01/2017
02/28/2017
02/27/2017
02/24/2017
- #814
- Mar 5, 2017 8:49am Mar 5, 2017 8:49am
- | Joined Feb 2006 | Status: Trader | 1,392 Posts
David : I have made some comments of your last chart. I could say more but then it gets messy : for example, the first 123 I write "Not a 123"... you could mark a 123 in the opposite direction; the second one is, well, stand in the corner and think about it ;-)))
Your 2bs are "interesting" : : the 2/27 one is the only one I would begin to consider. I don't mean to be harsh, I'm chuckling away to myself as I post ... (& of course many might disagree with my opinion)
Your 2bs are "interesting" : : the 2/27 one is the only one I would begin to consider. I don't mean to be harsh, I'm chuckling away to myself as I post ... (& of course many might disagree with my opinion)
- #815
- Edited 11:19am Mar 5, 2017 10:51am | Edited 11:19am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
{quote} So if you get a 123 or 2b and they are inside a higher high and a lower low that came before them, then you are in a consolidation type of mode? Which would mean you are then looking for a break of a previous high or low before looking for a new 123? I think I remember Divergence talking about that now in his videos.
I've ummed and arred about whether or not to give an input here. It is a bit of a minefield and it's only when you start a post in reply, that you realise how difficult it is to explain.
I dug up a chart from a year ago for an example;
You have to constantly match the 123 to the timeframe and scale that you are watching. In the above charts there are 123's everywhere, but notice how the overall entire rise and pullback at the centre of the chart is a large 123. They are fractal, the same as practically every single chart pattern that exists...
David - the 123 that is marked on the chart is about as perfect a shape and scale as you will find, there is only one thing missing and that is that point 2 of a 123 ideally should break out of the prior channel.
I can see that leg 3 of the 123 in the chart is clearly in 3 minor waves (abc) and this can be construed as a tiny 123 in itself. The importance of this is that these are the one's that will fail, whereas.... ah sod it.... you see?! this is exactly what i meant... i simply can not convey my experience in writing...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #816
- Mar 5, 2017 11:02am Mar 5, 2017 11:02am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
Probably could have found a better example, but the 123 in the chart below can not possibly be part of the same downward cycle;
This is what i meant by point 2 breaking out of a prior channel. We want to look for a 123 that puts us back into the overall trend that we are following (match the scales).
This is what i meant by point 2 breaking out of a prior channel. We want to look for a 123 that puts us back into the overall trend that we are following (match the scales).
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
