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My 6E trading strategy
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My 6E trading strategy

  #411 (permalink)
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monpere View Post
Any trades since the New York open today?

I have checked the ES, RUSSELL and 6E and there was 2 trades on the ES where only one would have given some profit.. Niet for the RUSSELL and 6E.

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  #412 (permalink)
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ABCD trade

GM Traders,

I have mentioned in this thread one of the best trend continuation price patterns is the ABCD retrace. It formed this morning and again worked for the 21 tick gain. Learn to see this pattern price rarely fails to make a new low or high on these patterns

1508 chart, see my text showing the pattern

the caclulation again is

the low of point A = 1.4252
the high of point B = 1.4267
point C does not make a new low - VERY IMPORTANT IT DOES NOT
take the difference between points A&B = 15 ticks
15 divided by 2 = 7.5, round up to 8
add the difference to the point B high 1.4267+8= 1.4275
the candle at point D closed at 1.4275

Perfect ABCD formation

Now you need the setup on the 377, see the chart

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charles

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  #413 (permalink)
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hmm


interesting, my zigzag didn't show that small swing.

 
  #414 (permalink)
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supermht View Post
interesting, my zigzag didn't show that small swing.


Another example of tick charts - the important thing is to learn the setup look and then trade your chart. these patterns form on all charts just not always at the same time

Charles

 
  #415 (permalink)
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Not on mine either


supermht View Post
interesting, my zigzag didn't show that small swing.


Guess it is the difference in tick charts.

 
  #416 (permalink)
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deanoky View Post
Guess it is the difference in tick charts.


had you not had the extra swing showing the ABCD you still had a lower low follwed by the retrace to the MA or cloud.

You still had the regular setup

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Charles

 
  #417 (permalink)
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supermht View Post
but there is a HL ( C point) before touching cloud, should we ignore it?


That HL after a LL in a downtrend is the signal to look for the ABCD

In an ABCD retrace it is THE RULE that that pont C cannot make a lower low or a higher high if we were in an uptrend

When you see a swing fail as in point C and you are in a downtrend you do the math and wait and see if the ABCD setups. A candle cannot close above in this case 1.4275 or the signal is void and then you have to wait for a LL followed by the retrace


Remember POINT A must always be a HH or a LL

Charles

 
  #418 (permalink)
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Just finished reading the entire thread and liking what I've seen so far!

I think the only thing I am hazy on throughout the read through is the entry itself. The main components for entry appear to be he trigger lines, and the price bars(doji etc).

So is the logic that, once your 1508 is correct, and you get a good pullback on your 377......
  1. you then just WAIT until you see a doji, spinning top, or Hammer
  2. Next observe the width of the trigger lines
  3. Enter on the bar that will break through the triggger lines

I assume the entry bar does NOT have to come directly after the doji?

With the picture I'm quoting, it looks like there is a doji all the way at the top of that swing before the entry, and at that point the trigger lines are a bit wide it appears? Then there is a comment, "candle closing below cloud." Should all entry bars close below the cloud?

I'm just generally confused on how the actual entry is made. I would appreciate feedback from CJ or anyone who understands the entry.

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  #419 (permalink)
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use discretion

As you can see on this current chart we did make a HH in the move into the cloud

then as price retraced the MA and Cloud is holding

I have a very difficult time buying a reversal signal in a strong downtrend, coupled with the news events in Greece and the U S

Use discretion even though a trend reversal signal is setting up - is it likely to move ????

being flat is a postion, if it wants to go up - show me something more I say

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Charles

 
  #420 (permalink)
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forrestang View Post
Just finished reading the entire thread and liking what I've seen so far!

I think the only thing I am hazy on throughout the read through is the entry itself. The main components for entry appear to be he trigger lines, and the price bars(doji etc).

So is the logic that, once your 1508 is correct, and you get a good pullback on your 377......
  1. you then just WAIT until you see a doji, spinning top, or Hammer
  2. Next observe the width of the trigger lines
  3. Enter on the bar that will break through the triggger lines
I assume the entry bar does NOT have to come directly after the doji?

With the picture I'm quoting, it looks like there is a doji all the way at the top of that swing before the entry, and at that point the trigger lines are a bit wide it appears? Then there is a comment, "candle closing below cloud." Should all entry bars close below the cloud?

I'm just generally confused on how the actual entry is made. I would appreciate feedback from CJ or anyone who understands the entry.


yes all short entries must be a bar closing below the cloud, and above it for a long

The trigger lines and super trend indicators are mainly filters to prevent getting in to early, wide trigger lines will usually cause the setup to fail

there must be a spinning top, doji, or hammer bar at or near the retracements end, however the actual entry bar will sometimes be several bars later as you discretionally evaluate the filters

Charles

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