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My 6E trading strategy
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My 6E trading strategy

  #561 (permalink)
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Surly View Post
Hi all - hopefully these charts are self-explanatory.

I'm posting to reinforce (for myself at least) the importance of using the Filters as Charles has outlined them for this trade setup. These are nuances that are important - in this case, the wide trigger line filter can save you ass!

surly

You make a good point about the trigger lines. On this 2nd trade you show that would not be an entry anyway as the ZigZag is making LL's without a dbl btm divergence. this must occur in order to go long.

Just because you are at the MA if I see your chart correctly does not mean you buy there

Charles

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  #562 (permalink)
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Dang.... Did anyone catch this one?

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  #563 (permalink)
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no


I did not, there is a LL on 1508

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  #564 (permalink)
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forrestang View Post
Dang.... Did anyone catch this one?


the lower low on the 1508 is the problem here - you did a good job seeing the 377 divergence. You needed the 1508 to dbl btm and create the "W" pattern

Charles

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cjbooth View Post
the lower low on the 1508 is the problem here - you did a good job seeing the 377 divergence. You needed the 1508 to dbl btm and create the "W" pattern

Charles

I thought the LL's did not matter, only HH's for a long? Also, looks like the 377 did not make a HH. Do divergences superseed the HH rule?

 
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monpere View Post
I thought the LL's did not matter, only HH's for a long? Also, looks like the 377 did not make a HH

For the first part, we had the HH.

On the 377, if price makes a LL before trade, you have to have a divergence, which was there on the 377.

 
  #567 (permalink)
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monpere View Post
I thought the LL's did not matter, only HH's for a long? Also, looks like the 377 did not make a HH


you cant be an uptrend making LL's - if you are it must double btm somewhere causing a divergence to reverse the LL

If the 1508 makes a LL it needs to dbl btm which will create the "W" pattern reversal signal

Charles

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  #568 (permalink)
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cjbooth View Post
you cant be an uptrend making LL's - if you are it must double btm somewhere causing a divergence to reverse the LL

If the 1508 makes a LL it needs to dbl btm which will create the "W" pattern reversal signal

Charles

This segment of price action is interesting as it shows the limitation of the ZigZag indicator. That's true that price made a LL but if we look at volume at price or volume under the hood, we can observe that price retraced to a high volume node. Typically, this is where the leading force of the moment will reassert its dominance. I am using a fractal indicator that uses 5 bars as resolution and the little swing in the middle of the larger swing is not apparent. Because of this intermediate swing we may have the impression price made a LL while in fact it is debatable. Using a custom profile applied to the segment in question reveals this information.

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trendisyourfriend View Post
This segment of price action is interesting as it shows the limitation of the ZigZag indicator. That's true that price made a LL but if we look at volume at price or volume under the hood, we can observe that price retraced to a high volume node. Typically, this is where the leading force of the moment will reassert its dominance. I am using a fractal indicator that uses 5 bars as resolution and the little swing in the middle of the larger swing is not apparent. Because of this intermediate swing we may have the impression price made a LL while in fact it is debatable. Using a custom profile applied to the segment in question reveals this information.

It all depends on the settings of the zigzag indicator. Personally, I do not consider that a LL. but that's why good methods have rules. Black, white, or gray, stick to the rules of the particular method, and the method's expectancy will prove itself.

By the way, I like this custom profile tool. Maybe we can get @gomi to add that function to his indicator

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monpere View Post
It all depends on the settings of the zigzag indicator. Personally, I do not consider that a LL. but that's why good methods have rules. Black, white, or gray, stick to the rules of the particular method, and the method's expectancy will prove itself.

By the way, I like this custom profile tool. Maybe we can get @gomi to add that function to his indicator

if you mean something like this, it's already added.

https://futures.io/elite-circle/3737-gommp-market-profile-indicator-13.html#post102366

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My 6E trading strategy-6e-09-11-1508-tick-6_20_2011.jpg  

Last edited by Silvester17; June 20th, 2011 at 05:29 PM. Reason: added link for custom profile
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