Hi Charles. I just read through your thread for the first time and wanted to thank you for sharing your trading method and taking the time to teach it to others. It looks very promising. I took my first sim trade earlier today and made 21 ticks. I plan on trying the method out over the next few weeks (sim of course). You had mentioned awhile back that you were planning on setting up a training session. Have you already done that or still planning it? Thanks again for all of your time and efforts.
Thanks Charles, I would definitely like to participate. I am a little unclear of your initial stop placement when entering a trade. Is it 2 ticks above (or below) the prior price swing, as long as it is not greater than 12 ticks? Thanks.
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The following user says Thank You to Big Mike for this post:
Wow, great week Charles. I have a question regarding your first entry. I didn't take that because the candle wick at 8:43 ticked up 1 or 2 ticks over the 8:39 candle, making me think that was a HH. Are all of those candles in that general time frame from 8:39 to 8:45 considered part of the same price swing? The rules state that the Zig Zag cannot make a higher high before the trade occurs, and it did not in this case. I just wanted to get a little better clarity from you about how you handle it if a price wick ticks up a tick or two higher. Thanks.
When you are evaluating a double top or bottom, it can occur on the wicks or bodies or even a combination of the 2.
The candles body is generally regarded as being more important than the wicks.
the best way to determine the dbl top & btm's is to place your cross hair at the high or low of the prior ZigZag swing, then you do not want a candles body to close above or below that price level. If no candle does and you get a divergence on that double top/low you likely have a trade setup as long as the 1508 has pulled back to the areas to trade from being the MA or Cloud
The following 3 users say Thank You to cjbooth for this post: