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My 6E trading strategy
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My 6E trading strategy

  #461 (permalink)
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trendisyourfriend View Post
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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I do not enter a trade directly on the hammer bar - I wait for a candle to close above its high or below its low. And of course the other filters being the trigger lines and super trend. The formation of the hammer bar,doji,or spinning top is a heads up that a trade may be developing

Charles

 
  #462 (permalink)
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I have noted this reversal just before the news at 10:00 EST.

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  #463 (permalink)
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A long after the reveral.

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  #464 (permalink)
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trendisyourfriend View Post
A long after the reveral.

I actually had an order in for that but pulled it. Doesn't that new LL on the 1508 invalidate the long trade(once price breaks through red line on my chart)?

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  #465 (permalink)
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trendisyourfriend View Post
A long after the reveral.


the long trade was valid, I took it and got afew ticks on it

the short you showed in the previous post. I have a 50 EMA on my 1508 its not part of the rules so I have never mentioned it. I rarely go short above it or long below it, this could be an option for you to consider as the MA caused the W bottom reversal on the short.

Like I said this is not part of the written rules so its an option - it will prevent some winning trades for me but also prevent some losers

Charles

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  #466 (permalink)
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Silvester17 View Post
I was wondering about that too. plus the price swing indicator will plot abcd patterns and fib retracements and extensions.

PriceActionSwing is an elite indicator, isnt it? Guys, we really should think about contributing elite membership to Charles as compensation for the wonderful setup he shares with us so noble

 
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PowerM View Post
PriceActionSwing is an elite indicator, isnt it? Guys, we really should think about contributing elite membership to Charles as compensation for the wonderful setup he shares with us so noble

quoting myself .. it is not an elite indicator, but I also like it ..

 
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forrestang View Post
I actually had an order in for that but pulled it. Doesn't that new LL on the 1508 invalidate the long trade(once price breaks through red line on my chart)?

Anybody?

 
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using 52p ema on 377 chart

Hey guys - I put a 52 period EMA on my 377t chart (colored white to match the 13 EMA on the 1508 chart). This has been helpful when focusing on the 377 chart because it is a very good approximation of the level of the 13 EMA on 1508 and shows you about where the 1508 chart is pulling back to relative to its 13 EMA.

Hope it helps.

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yes I got it but i had in this trade only a target of 10 ticks and was not manually adjusting it


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