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My 6E trading strategy
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My 6E trading strategy

  #541 (permalink)
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CJ,
On the chart below I noted the higher low with an arrow and also the higher high. At what point on the 1508
chart would you start looking for a long trade on the 377 chart?
Thanks

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My 6E trading strategy-6e-09-11-1508-tick-6_17_2011.jpg  
 
  #543 (permalink)
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Ken F View Post
CJ,
On the chart below I noted the higher low with an arrow and also the higher high. At what point on the 1508
chart would you start looking for a long trade on the 377 chart?
Thanks


The moment PRICE not the ZigZag or any other indicator touches the top of the MA or cloud you begin to evaluate the 377 for a POTENTIAL trade. Then right before you pull the trigger look at the 1508 real quick to make sure the support is holding -.

Charles

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Hi Charles, i would like to know since we have time, if you make a difference when we have a HH on the 1508 preceded by a LL versus a HH preceeded by a HL. I know your rule is to wait for a HH on the 1508 nothing more but i was wondering if it makes a difference in your evaluation of the context. In my mind, consecutive HL, HH is more strong than consecutive LL, HH.

Here is an example of what i am talking about using one of your screen capture. This is a trade that failed. Here we have a LL preceding a HH.

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Last edited by trendisyourfriend; June 18th, 2011 at 06:38 PM.
 
  #545 (permalink)
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Charles, i was reviewing this trade here clickme

What was the reason why you did not enter on the first red bar that closed below the cloud on the 377 ticks chart between points #2-3. Was it only a question of risk too big ?

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trendisyourfriend View Post
Hi Charles, i would like to know since we have time, if you make a difference when we have a HH on the 1508 preceded by a LL versus a HH preceeded by a HL. I know your rule is to wait for a HH on the 1508 nothing more but i was wondering if it makes a difference in your evaluation of the context. In my mind, consecutive HL, HH is more strong than consecutive LL, HH.

Here is an example of what i am talking about using one of your screen capture. This is a trade that failed. Here we have a LL preceding a HH.

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I think I remember this day, you reference that LL just before the HH that then gave a failed HL trade. Look at the LL you mention - it sure looks like an ABCD retrace and if it was then that is a powerful trade. If i remember this day correctly indeed it was an ABCD

ABCD will have you trading a LL in an uptrend or HH in a downtrend but the calculation of it would need to be correct


Charles

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  #547 (permalink)
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trendisyourfriend View Post
Charles, i was reviewing this trade here clickme

What was the reason why you did not enter on the first red bar that closed below the cloud on the 377 ticks chart between points #2-3. Was it only a question of risk too big ?

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I do believe the post itself answers your question - point 2 made a HH and Stochastic did as well - there was a standard divergence between points 1 & 3

Charles

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cjbooth View Post
I think I remember this day, you reference that LL just before the HH that then gave a failed HL trade. Look at the LL you mention - it sure looks like an ABCD retrace and if it was then that is a powerful trade. If i remember this day correctly indeed it was an ABCD

ABCD will have you trading a LL in an uptrend or HH in a downtrend but the calculation of it would need to be correct

Yes i understand the ABCD but this is not what i am talking about. If you look at the three green arrows, where you entered, the HH was preceded by a Lower Low. Whether or not it was a valid ABCD or not is not important as i am talking about the pullback that occured after the HH. For one thing, this HH was preceded by a LL but also the pullback on the 1508 never hit the MA or cloud which is one of your condition. Anyway, my point was that i think a series of consecutive LL, HH, pullback to MA seems less strong than a series of consecutive HL HH, pullback to MA since by definition a healthy uptrend should show HL HH HL and not LL HH HL. Maybe i am thinking too hard

 
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trendisyourfriend View Post
Yes i understand the ABCD but this is not what i am talking about. If you look at the three green arrows, where you entered, the HH was preceded by a Lower Low. Whether or not it was a valid ABCD or not is not important as i am talking about the pullback that occured after the HH. For one thing, this HH was preceded by a LL but also the pullback on the 1508 never hit the MA or cloud which is one of your condition. Anyway, my point was that i think a series of consecutive LL, HH, pullback to MA seems less strong than a series of consecutive HL HH, pullback to MA since by definition a healthy uptrend should show HL HH HL and not LL HH HL. Maybe i am thinking too hard

Iono bout all that, but I'm doing some SIM replays, and I swear, everyone of the losses I'm trading are the ones where price actually pulls back INTO the cloud. The better ones stop short of it, or barely kiss the cloud.

The rules do say that the zigzag should be above/below, but I didn't know how literal to be with that.


Last edited by forrestang; June 18th, 2011 at 09:23 PM.
 
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forrestang View Post
Iono bout all that, but I'm doing some SIM replays, and I swear, everyone of the losses I'm trading are the ones where price actually pulls back INTO the cloud. The better ones stop short of it, or barely kiss the cloud.

The rules do say that the zigzag should be above/below, but I didn't know how literal to be with that.


If you can post a chart where you have a losing trade after the retrace comes inside the cloud. This would make it easier to respond to your comment

There are some good trades that occur from inside the cloud, on the other hand when price comes inside the cloud from above it means price has broken support and the top of the cloud becomes resistance so if you take a trade then you need price to break that resistance or close the trade at any sign of rejection at it

Keep in mind also that when price has broken support by coming inside it from above that the bottom of the cloud is also support.

Charles


Last edited by cjbooth; June 19th, 2011 at 11:15 AM.
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