yes, I think 50% of BC may be valid. I was eyeballing an entry. I think you can use the system based on what perry defines. I was just trying to give suggestions on a more aggressive target. I think the AB=CD is a very common pattern. Also if you are with the trend of a higher time frame you have that on your side as well. I marked up a chart with optional entries such as a trendline break, break of symmetry as well. if you need additional info on what I mean about symmetry break let me know.
The following user says Thank You to David_R for this post:
Thanks for the additional entry tips. Oh, I'm very embarrassed to disclose that I don't know how to draw trendlines (sort of connecting 2 points together .. then I got lost within seconds .. ooooo ) .. symmetry has been all over the place and I have no clue as at this point .. head starts spinning ..
I will stay with Perry's entry rules and occasional 50% of BC. Trendlines and symmetry are on my Learning list .. will get there .. haha ..
Hi Beth. I am new to the website, so please bear with my questions. I really appreciate all of the information you are providing in this thread. It has been very helpful to me. I have not been able to go through all 90 pages yet, but could you (or have you already) provide some more information on the trade setups in your trading plan: EMA Method 1, 4 Range Setup, MP 30 minute, and CCI 5 minute. Any information you could provide about these would be much appreciated. Thanks.
Methods 1 and 2 (entry rules) are on Post Nos 71 and 72 on Page 8. It's a 39-page thread and I highly recommend your going through it at least once before sim-trading the set up. Perry has been very generous in sharing his set ups with us (he has been using it to trade live). Simply prepare a post in his thread for any questions you may have. He's been extremely supportive/responsive and you'll be in good hands. Enjoy!
Note: You will find the Market Profile indicator from the Downloads section. To understand the CCI set up, please visit Jeff's CCI thread.
Not intended to confuse you, but a quick symmetry lesson. I would stick with what you know and what you are comfortable with, but i wanted to pass this on because it sounds more complicated than it is. By the way, many times you get the same result doing something a different way. What I mean is whether you use rules, a trend line break or whatever, many times it gives you the same result.
Here is a link on trend lines. Also, no need to complicate. Basically drawing lines between points. Trend lines can be horizontal as well such as a double top or a horizontal channel.
Enclosed VPOCs in bold (Top 1128.50 and Bottom 1119.00) are based on today's Close @1121.50.
Have a lab appointment early in the morning .. always the case after meeting the family Dr for a bi-annual physical exam. Will be back around 10:00 am .. just in time after the 10:00 am news .. smile ..