Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
trend, that is what I tested, but how do you define those key positions, such as those fib number? I am using Al brooks H2 on MA rules, but your fib number is interesting.
Can you help answer these questions from other members on NexusFi?
13 EMA or the area between the 13EMA and cloud on a pullback after a HH or LL. The same as we have been doing since the beginning. This implies there might be some losses but if the theory is right then a HH or LL + a pullback to the EMA(13) or bottom/top of cloud should provide an edge even if we are right 50% of the time as we have a 2:1 RR. If not then why waiting for a pullback at that location ? You need to take into account that the filtering process we do on the 377t chart increases our risk as well. Nothing is free, what we gain by filtering (more confirmation), we lose by increasing our risk and lowering the probability to reach our target.
Somebody's thinking rather mechanically.. haha I like the idea, it might increase the number of trades, given that it may allow entries that might ordinarily be filtered out by the 377 rules. As long as the >= 50% win radio at 2:1 reward/risk stats is proven historically.
I think a good setup today was at 8:51 cst. I am still learning the trigger lines, but I think that was a classic long setup for them on the 377. The small triggers turned right above the large triggers, with the 55 ema right below. You had a little heat on that first pullback, then it moved pretty nicely to target.
Ideally, the entry should not go below the 55EMA on a retracement during an uptrend, i check on the left side to find a previous balanced zone and place the entry at the middle of this zone. I intend to use MarketDelta using a custom profile to locate a previous POC. This will be more accurate than a moving average or the cloud as i can expect a bounce or a reaction at a high volume node.
OK, i just tested with MarketDelta how i would proceed. So the main rule does not change for the 1508 or longer term chart, a higher high or a lower low at an area must occur. Except the area will be determined by the developing value area which should reference at least two swings.
I'll use the custom profile to locate high volume nodes for the entry and my stop will be placed below a previous swing Hi/Lo accordingly or below a point named Value Area High/Low (market profile term). As said in the first paragraph, the Value Area will comprise at least two swings and the entry will be at the POC of the last leg or if there are two significant volume nodes, at the middle of them. See first chart for more details.
A second chart is included to indicate what i'll consider as the end of the current trending cycle. An early sign of this is when the POC shift to the upside in an uptrend or to the downside in the case of a downtrend. Quite clear on the second chart.
I like the idea, it might increase the 
