this is my first attempt at screen shots so bear with me -
this is and attempt to show beginner traders how to find direction and s/r on the cl using the 155 tick chart -
1- i dial in the simple moving averages that i feel work for me -
2-currently i am using 57 and 140
3-each time these averages cross i start a new trend line
4-the trendline is adjusted to the new low/high after the crossover by splitting the distance between the 57 and 140 ma -thus if the 140 is at 92 and the 57 is at 90 the trend line is from the cross point to 1/2 the distance of the ma's @ 91 directly in line with the time it happened -
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now i am happy the chart printed - you can see there are multiple trend lines through out the day -and you can clearly see where short term uptrends and downtrends are created intraday -study this and try it -you can also make your time frames for trades longer or shorter by decreasing or increasing the ma' on a percentage basis -please also adjust your ma's to suit what you see -and you will never have to worry about 2 many people entering a trade at the same area -
study the chart and see if you can find the ambush points
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Use 55 and 144 .... it won't make any difference functionally... but when people ask why you use those lengths you can say ... "They're Fibonacci Numbers" .... and they'll think you're a mystical GURU....
Nice work. Thanks for sharing ....
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
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TMFT-when i set these numbers up -it was may 19th -the 140th day of the year with 226 to follow
226 div x 4 = 56.5
thats how i start my dial in
but the fib seems much easier ,so will use future post to see where numbers can be pulled from -
thanks for the idea
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you can see on todays chart -we have lots of resistance at our low - and i found my s/r points by using price lines at my trend intersection points -it would not surprise me to see a move back to the 91.60 area -these are ideas not trade recomendations -trade what you find .
as you can see - we are nearing our 91.61 target area- our exit is 91.59-you could stay in this trade untill the new trendline is broken -remember keep ajusting it as the new highs for this move show up-thats all for today-please note this is 1 contract for new traders using a sim account leveraged correctly
I find this a fascinating concept BUT what I'm having trouble with, is WHY would the cross of a MA, be better than using the most recent pivot point instead ? Did screen time prove this method is better than a pivot ?
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this chart shows -how this works best -this sytem is not for long term trade unless you go to a different tick / time frame and alter the percentage + or - on the ma's -
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now you see a good low has set for now (1:20est) the 50% (red) line off the split of the base low has become support -any guess as to where its going ? mine is 90.35 but remember its your money and your trade -so make sure when YOU pull the trigger
the trend line continues to raise or lower -depending on new -highs or lows being created -
super -your trend line start is correct -but the flexible end need to be raised to reflect the center point split of the new high area-that being the 1/2 way height of the price difference between the 2 ma's -
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yes devdas -your fexilble end is correct - if no new high is created the trend line will then fracture -showing weakness that the directional move is running out of steam
maybe -someone can give a few ideas of something they want to trade and to see if we can call the correct moves-give me some ideas -and wed(30)we will set it up and chart and trade it
also we will be off till next wed -will check tuesday evening to see if anyone gave any trade ideas -have a great holiday weekend
so, trend line start point = ma cross, end point = mid point between 2 MAs at the new high or new low since crossing point.
is this better? is this automate trend lines?
Hi,
Nice technique. Have you tried this with ES? Do you utilize different size tick charts in different markets? How did you come up with a 155 tick chart for CL? Thanks.
that 155 is a typo -----133 is the tick -if you look at the upper right hand corner -it will show 133 as the tick-
sorry for any confusion -i tried to go back and change it -but there is a time limit here to do so
133=133=133 is the tick
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as i never trade the ng - i thought i would do a test on my day off -this was a sim account set and locked at 1 contract -i suggest all new traders have there broker lock there account to 1 contract-
here are the chart and todays results -trading 1 contract at a time -caught a few runners but a lot of fast 4 tickers-
tested the --TF--
1 min chart
longterm ma's 565/1400 (10xabove post)
daily ma's used 30/150
you will see long term ma's running sideways (pure death to new traders)
1-low after the open
2-base line s/r after open-also lines up with 1400 flatlining ma
3-short entry with a strike to the 565 ma (steelballs hold if top not taken out )
4-nice short setup -3 line break -held 565-broke the trend and broke the 30
5-pure ambush (refer to #3or4above)
6-baseline reversal zone
renvik -i believe coy are a fish always kept in a confined area -so yes i am being coy -when waitng for the proper setup -its like shooting fish in a barrel
TF -update -
7- just walking the line
8--- 4 line support
p.s. es target 1337 -reward at this level 12 points -risk 27 points -for anyone wanting to just ride it
7-low set -split of the 565/1400 ma's with the 50% s/r shown
8- new lower low - split of ma's shown -
heavy red dotted line now shifts to the new 50% zone @approx 1325.62 -which becomes new s/r is no lower low sets -also flexible end of trend line ajust to 50% split right in vertical line with the new low-
you saw in item 5 this morning the congestion break to the south side -now after item 8 you are getting the same reaction to the northside as too mant items converged above the 100% line --its a long way till the 570ma breaks above the 50% s/r
you see in this pic the # 10 -bounced off the base of the new box plus the 570 ma -the item 9 long was just a p/b entry after they scared all the squirrels that were long from number 10 to bail on there trade
looking to see if there is a higher move at the crossover of item #11-looks like the move already started as i am writing this post--up 6 points on our 24.75 long as of 3:45 est
when looking at #s make sure you not only see the obvious -but whats inside 56/13--we held the 35 level and held the 19 level overnight -leaving us a 16 point range-sometimes the obvious is so obvious its not even obvious anymore
looks like a sideways pattern today thus far -will try a long shot long at 1320.75 to see if it hooks before the open -8 tick stop -with a 12.5 target --high risk
I'm adapting @ Cory's MidMATrend indicator which he derived from your setup ... I expect that your suggested 27/70 MAs for a 5 Minute chart should guide me to achieve a setup for a 5 Range chart. Meanwhile, I'll test-drive the 5 Minute chart setup, as you've just done ... your Entry was @ point 4, Right ?
What criteria do you use to draw the green S/R for the 5 Minute chart ?
the s/r is calculated very simply by using the 50% fib line on the split of the 2 ma's -as shown in the chart below -i removed the green line for clarity
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Do you have to draw the Fib (using the in-built chart Fib tool) to derive the S/R ... and why do you choose to derive the S/R at that specific point ... why not a little bit earlier ? Does that specific point have a specific characteristic that made you to draw the Fib there ?
It is here, then he posted an update version here.
Have a look @ this live video recording of my test-drive on a 5 Minute chart setup (a SIM trade, and a quick 7 ticks TP), taken just now, using @ Cory's indicator.
lolu -i cant view your video -it says you have me on your ignore list -and if i want to view cory's i have to pay to get access =so cant see either 1 -but i guess its nice to find out someone jumped on it for profit anyway -so it must really be worth something
Ooooooooh ... I never noted that you are not an Elite Member of futures.io (formerly BMT).
You're not on my Ignore list ... I don't really have anybody on my Ignore List. You've got to be a futures.io (formerly BMT) Elite member to access some stuff such as indicators, indicator links, videos, video links, etc. You don't have to PAY; you just need to DONATE to futures.io (formerly BMT) ... and you'll have access to, not just indicators, but some excellent stuff. So, just do it ... DONATE to futures.io (formerly BMT) today.
Meanwhile, have a look the screenshot of my 5 Minute chart contained in that video ... you'll notice that I closed the trade too early.
please note -thursday is the 152 nd day of the year with 214 to follow -remove like # (21) and you are left with 4and 5 which = 9 the low -its more than just indicators -
earlier today for 5/30 we are the 151st day of the year with 215 to follow -remove like #s (15) you are left with 12 our first 1312area trade that went for 4 points -
all do respect to this site -if you read the heading of this entire thread it was for new traders -i must see things different when it comes to plagerism -but i thankyou for letting me know how this works here -like i said it must be some valuable stuff thats never been seen before -for it to get jumped like that -Fat Tail knows how long this pattern may work -its not fool proof-so becareful following it for the long term
What purposes do the other lines serve ... I mean the five lines which, in any case, I can set to just one. What's the implication of setting it to just one line instead of 5, 4, 3 or even 2 ?
i will give you a little history on this setup -as i dont believe anyone out there will have the link of trades for the last several years that has been used with this simple setup-
my best day testing with the sim was 24 million dollars
after that day was done - i recieved a letter from the broker telling me it does not work the way i traded -so the next day i reduced my activity x6 and did 4 million -he did not write again
the 24 million can be verifyed by several people =but i will pick Mr Don Miller -if he choses to confirm it -i tried to sell this simple system to Don for 175k when he was thinking about buying a seat for 175k on the cme board(find black box mention in Don blog archives) -the reason i chose Don was he had several places he was donating money to and felt this could really help him with his cause.
i tested this on a 100k sim account for options and currencies -in a very short time i was at 10 million and not long after playing like the boy plunger i was @ 10 billion
they say in life when something bad happens to you its not who you are -
but when something good happens to you it can be who you will become -
this system is fault free -find the ma combo that works for you -
short or long the last high or low is always the stop
and remember if you go back and review the cl trade in the beginning of this post -i called the long -short the reversal exit of the long then the reversal exit of the short -
never leave the trade when you wait for the set up -untill you can reverse at the next setup -only when the high or low is taken out will you be stopped out -
some quick setups today -hoping to show what i see over time
1-5 line break prior to news (shorted 12.50 with a tight stop )
2-exit was first touch of blue trend
3- went long at 1309 when it failed to come in and touch for the 3rd time -also nice spike candle -exit was 2 points at the strike of the red pivot line per my chart setup
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