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My 6E trading strategy
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My 6E trading strategy

  #451 (permalink)
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yeah

exactly, I have that 2 signals on my 1508 too

 
  #452 (permalink)
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supermht View Post
exactly, I have that 2 signals on my 1508 too

Which two?

 
  #453 (permalink)
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here


1:23 and 4:56 CST

one thought

I don' t need to recognize ABCD, I use Al Brooks L2 ( downtrend) and H2 ( uptrend) method when price makes HH at downtrend or LL at uptrend.

 
  #454 (permalink)
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forrestang View Post
@trendisyourfriend

Do you mean the zz that creates swings based on vertical distance traveled? That thing always seemed kinda arbitrary, how do you know if you want to use the length of 12, or 16, or 20..... I'm just wondering which length you would pick? Or is there another zz indie that plots based on the bar formation?

On another note, did anyone trade today? I only see two possible trades, maybe a third. The third I wouldn't have taken, the 2nd probably not, the first trade though, seems to be ok? Big News coming out today.


i have not taken any trades as yet - early Greece news had really caused the market to trade abnormally , at least to me. I am waiting until after 7:30 cst to look for trades presently there is too many S&R levels to the left on the 1508 chart causing this whipsaw action

Also looking at a daily chart the 1.4075 has been a major area of support over the last couple of months - so I am waiting for more of a clear direction

Charles

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  #455 (permalink)
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forrestang View Post
@trendisyourfriend

Do you mean the zz that creates swings based on vertical distance traveled? That thing always seemed kinda arbitrary, how do you know if you want to use the length of 12, or 16, or 20..... I'm just wondering which length you would pick? Or is there another zz indie that plots based on the bar formation?
...

See notes on this picture.

Charles, why not using the superior PriceSwing indicator which is more reliable then the ZigZagUTC. Have you considered this option ?

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  #456 (permalink)
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trendisyourfriend View Post
See notes on this picture.

Charles, why not using the superior PriceSwing indicator which is more reliable then the ZigZagUTC. Have you considered this option ?


I'm not sure which other indicator you are referring to - do you have the zip file - I will take a look at it

charles

 
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trendisyourfriend View Post
See notes on this picture.

Charles, why not using the superior PriceSwing indicator which is more reliable then the ZigZagUTC. Have you considered this option ?

I was wondering about that too. plus the price swing indicator will plot abc patterns and fib retracements and extensions.

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My 6E trading strategy-6e-09-11-1507-tick-_-6e-09-11-1508-tick-6_16_2011.jpg  
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Register to download File Type: zip PriceActionSwing.zip (20.9 KB, 83 views)

Last edited by Silvester17; June 17th, 2011 at 12:55 AM.
 
  #458 (permalink)
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Charles, in your book, is this a tradable ABCD setup ?

Just trying to understand the nuance of your explanations. When price creates the leg between points C-D at which point should the ABCD pattern be discarded even if its structure respects your numbered list that defines it. If the C-D segment penetrates the cloud as shown here on the ES this morning, would you still consider the pattern tradable ?

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  #459 (permalink)
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trendisyourfriend View Post
Charles, in your book, is this a tradable ABCD setup ?

Just trying to understand the nuance of your explanations. When price creates the leg between points C-D at which point should the ABCD pattern be discarded even if its structure respects your numbered list that defines it. If the C-D segment penetrates the cloud as shown here on the ES this morning, would you still consider the pattern tradable ?


After measuring the distance from A-B and then adding the half to B if a candle closes above the calculation point which will occur at point D then the signal is void

If C-D penetrates the cloud its OK as long as it does not go above it in that example. So in your example yes that ABCD is tradable

Charles

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Charles, one more thing which has not been mentionned. When we have a valid setup and price closes below/above the cloud but the entry bar looks like a hammer or inverted hammer do you take the trade ?

Ex. if we are in an uptrend and we get an inverted hammer suggesting a reversal against our position do you take the trade even if the close of the bar is positioned correctly according to the rules ? That's one of the problem i have with TICK chart. I find the close of the bar less significant than with other types of bar.

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