Thanks! The shaded area in the slingshot indicator is a "no trade" zone. So if price is above - look for longs. If price is below - look for shorts. You can clearly see that Sharky's new indicator is very helpful in weeding out entries that might not go anywhere. These trades were the first two pullbacks in a new downtrend that were confirmed by the ECO histogram approaching or exceeding -10.
My ATM strategy is a 6 tic stoploss and a 5 tic profit target.
Good job Jeff. i did pretty well with your strategy too. Here are mine. +43 and +130 and I was worried aobut this last one. I should have gotten out on the first yellow bar but I was watching something else and then figured it was too late to get out (on the blue bars). I know this is contrary to what you said earlier.
I also read up on the first cross and I see how that does match up with what you're doing. On my last trade, there was a first cross setup for long at the same time I was going short. I think that could be a good criteria to verify we're not going against a first cross. What do you think?
as usual I have one trade that takes away my winners. My biggest problem is not controlling losses.
Here is something I use. goto E-mini S&P500 September 2009 This site is called mypivots.com. When you see a NR7 listed at the bottom under Crabel price patterns you know you are going to get a great trending day like today. Try to hold on to runners in first part of day. NR7 stands for narrowest range in 7 days. NR7 needs to say TRUE
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One last push before lunch. One more 7/11. $435.00 I'm done. (YM)
Hey Cunparis, I suspect that there is an issue of some sort with your 50 EMA. Did you adjust the angle settings? My 4 range bar chart has the 50 EMA changing colors at a different time. But.... once again I've noticed that this is a problem with all 4 range bar charts with this template. The trade that you took the loss on was setting up as a LBR "Holy Grail" trade. ADX had been over 30 and price was retracing toward the 20 EMA. This was my previously mentioned early entry. Took some heat..... finally hit my first target...... was taking too long.... exited 2nd target at a small profit..... finally goes 2nd target would have been hit. So I'm thinking that you got in too late. The market is constantly testing support and resistance. Once it made the new low you knew it was going to test it again. But ...yes.... if you are short and you get a long signal... that's not a good sign. I like to draw trend lines on my chart... a trend line break coupled with a yellow candle and the HMA turning up would be three good reasons to bail out.
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