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What is this that I am seeing?
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Created: by JMoniker Attachments:1

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What is this that I am seeing?

  #1 (permalink)
Elite Member
Georgia USA
 
Trading Experience: Beginner
Platform: NT8
Broker/Data: Continuum
Favorite Futures: ES
 
JMoniker's Avatar
 
Posts: 24 since Jul 2018
Thanks: 45 given, 34 received

What is this that I am seeing?

I don't know if there's a limit to how many threads I can post but I promise this one will be my last for while. Thank you so much to everyone to who generously responded to my last question. I know the knowledge you shared with me cost you something. I have taken detailed notes of all of your responses and decided that today, I would watch from the sidelines. I started measuring each swing and found something that has always perplexed me. I've done well before when I would bind a range inside a rectangle and then stack it on top for a target. How can these swings below be so precise? Not a single order pushed it over the edge. It's almost as if everyone is moving together and knows when to enter and exit. While I'm watching from the corner like that one guy at a party that no one talks to.

I feel like I'm at the cusp of something but I have scattered data and no experience. I've seen people refer to "measured moves" and "ABC patterns". I'm not sure if what I'm asking below is extremely valuable trading education but if someone could just throw me the slightest hint, I will put in the work to figure out the rest.

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
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trendisyourfriend's Avatar
 
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JMoniker View Post
...

I feel like I'm at the cusp of something but I have scattered data and no experience. I've seen people refer to "measured moves" and "ABC patterns". I'm not sure if what I'm asking below is extremely valuable trading education but if someone could just throw me the slightest hint, I will put in the work to figure out the rest.

This is not unusual. This is a phenomon based on self-fulfiling prophecy A self-fulfilling prophecy is defined as any expectation, about a situation or event that affects an individual/group behavior in such a manner that it causes that expectation to be fulfilled.

If you want to see an application of this to trading, just visit this blog from a trader who describes how he profits from this phenomenon: I am sure you will learn a few good tactics:

Trading notes: How I use Fibs

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The following 2 users say Thank You to trendisyourfriend for this post:
 
  #4 (permalink)
Elite Member
Georgia USA
 
Trading Experience: Beginner
Platform: NT8
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Favorite Futures: ES
 
JMoniker's Avatar
 
Posts: 24 since Jul 2018
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trendisyourfriend View Post
This is not unusual. This is a phenomon based on self-fulfiling prophecy A self-fulfilling prophecy is defined as any expectation, about a situation or event that affects an individual/group behavior in such a manner that it causes that expectation to be fulfilled.

If you want to see an application of this to trading, just visit this blog from a trader who describes how he profits from this phenomenon: I am sure you will learn a few good tactics:

Trading notes: How I use Fibs

Thank you so much, at first glance I can already tell it's going to clear a lot of things up for me. As a follow up, as the day continued, the 17 got smaller and smaller and then it sold off. I'm interpreting this as the 17s long gang took their profits. I haven't taken a single trade today but this is the most exciting day I've had in a while.

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  #5 (permalink)
Trading Apprentice
San Diego, CA 92101
 
Trading Experience: Advanced
Favorite Futures: CL,NQ,YM Options
 
Posts: 20 since Jan 2019
Thanks: 1 given, 15 received


trendisyourfriend View Post
This is not unusual. This is a phenomon based on self-fulfiling prophecy A self-fulfilling prophecy is defined as any expectation, about a situation or event that affects an individual/group behavior in such a manner that it causes that expectation to be fulfilled.

If you want to see an application of this to trading, just visit this blog from a trader who describes how he profits from this phenomenon: I am sure you will learn a few good tactics:



I use a similar method to this trader. However, I identify the legs in a different way. I identify the (low or high) to B, then I trade the B to C leg to the 127 or 161.8 extensions. The B to C moves that blow past the 161.8 are identified as impulsive and have different rules.

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  #6 (permalink)
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Leg 1 = Leg 2 Measured Moves are common. Watch this video for an explanation:

https://www.youtube.com/watch?v=cRWGKdmTkKc

Hope that helps.

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  #7 (permalink)
Elite Member
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1S2K4ES.Measure Moves


mgcharl View Post
Leg 1 = Leg 2 Measured Moves are common. Watch this video for an explanation:

https://www.youtube.com/watch?v=cRWGKdmTkKc

Hope that helps.

Thanks a million for posting that excellent video--very easy to watch and learn.

iTS


Find missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
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  #8 (permalink)
Elite Member
desert CA
 
Trading Experience: Intermediate
Platform: NT7, TOS, IB
Broker/Data: AMP/wCQG, TDA, IB
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Besides being a symmetric range pattern, it also approximates a reverse "heads and shoulders" pattern. Easier to see in a higher time frame.

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