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The triangle has nothing to do with it, its just a visual of levels getting broken with closed bars, tested and then break out.....choose your trade location based on your risk tolerance....basically any entry inside the visual area of the triangle is valid, or a break out from the triangle area.....stop needs to be above or below the level represented by the opposing swing or perhaps a CLOSE outside the triangle opposite your position.....
All I'm trying to do is identify level breaks, tests and resumptions of the new potential trend.....nothing magic in the triangles......
I call them puke points....people on more or less my time frame puking out new initial trade stops or trail stops from earlier entries against higher time frame traders....
By the time the triangles are formed, a lower high and lower low have already materialized most of the time....important markers for entering short against a long trend as I did today.
Hope that helps.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
It helps that price ran 100 ticks from the high in just a few minutes....always makes it nice to have your winners go so quickly....still for some reason, it didn't really feel like it....in truth, I was expecting some sort of effort to close the gap early but instead, got short signals that paid even though I had a slightly long bias. Good enough for today.
Doubled my daily average today....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Your 250 tick chart is absolutely different to mine, I have like 3-4 times less bars, I have noticed CQG data ticks are much rarer than some other. No wonder I couldn't figure how guys trade 2000 ticks ES and 800 ticks CL, it's just has so little bars to figure out stuff during the day.
