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Reversal Pattern using CCI, Stochastics, Divergence, SR level
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Reversal Pattern using CCI, Stochastics, Divergence, SR level

  #1 (permalink)
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Reversal Pattern using CCI, Stochastics, Divergence, SR level

Reversals either direction often occur on these conditions:
- The CCI ghost with a cross of the 100 level.
- Support/Resistance: BB cluster or any other strong SR level.
- Divergence: in this case price vs. Stochastics AND CCI

First entry should only be a scalp; wait for retest and clearing of next S/R to take a trend type entry.

Reversals are always tricky to trade; be prepared to bail at any sign of continuation of the trend.

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Reversal Pattern using CCI, Stochastics, Divergence, SR level-cci-stochastics-reversal-pattern-es-2009-06-19.png  
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  #2 (permalink)
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Some other trades on ZN 2006 06 19

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Reversal Pattern using CCI, Stochastics, Divergence, SR level-cci-stochastics-tl-patterns-es-2009-06-19.png  
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Nice mark up on the chart, Saroj.

Mike


Last edited by Big Mike; June 23rd, 2009 at 10:08 PM. Reason: removed rude comment :(
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Has the same idea, but was able to resist .
Woodie's CCI, DMA, STO, volumes, TA patterns, ouch .

Anyway, thx for sharing it Saroj.

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Saroj View Post
...
First entry should only be a scalp; wait for retest and clearing of next S/R to take a trend type entry.
...

Hello Saroj,
From your comment re: first entry to be a scalp...
When scalping, are you "legging-in" with less contracts and then adding when you see the bigger move?

Kirk

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very funny... having 4 BB's definitely clutters up the price panel... but you get used to knowing what is important to look for... just like in traffic.. you have a general awareness of all of it, but are focused on the important things.

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I don't Kirk... AIAO on 2 or 3 contracts for 3 ticks... then wait for the retest to do a full trade... rather than legging in, I'm more likely to enter 1 at the price at the trigger, then a limit lower and a enter stop order above a resistance area.

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TA = technical Analysis.. not an indicator; no DMA; no more to watch than if driving or flying, teaching or any other complex task... doesn't seem a big deal to me.

oops.. you're right Sam on the DMA... I was experimenting with it... forgot it was there... isn't normally... my apologies.


Last edited by Saroj; June 23rd, 2009 at 10:07 AM.
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ZN did two perfect reversal patterns today per the above... one at the start of the down move at 0234 ET and one at the start of the UP move at 0906... the BB's, CCI (ghost), and Stochastics all showed that highest probability was for a reversal... the essence of it is indicators at extremes at SR levels with a weakenng/failure pattern on the CCI. Other indicators like MACD & RSI would likely have shown the same thing.. I happen to be familiar with these.

As described in the first post, you scalp the first move - the CCI TL break - (wave 1) and keep a runner on the 2nd - the CCI ZLR/famir - (wave 3). Since wave 3 is often a complex wave (having 5 waves in itself), you can also reload your position on the pullbacks if there appears to be enough room before the next SR level.

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Reversal Pattern using CCI, Stochastics, Divergence, SR level-reversal-pattern-extreme-weakness-zn-2009-06-23.png  
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  #10 (permalink)
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Some very nice work Saroj, looks like ingos use of bands and very nice use of price action at extremes to find a reversal

this is basically how i trade and what i look for especially then a reversal on a low t/f is at the peak / trough of a high t/f pullback.

thanks for the charts!

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