I like your chart but have questions on when a "push" is valid (when counting on an uptrend):
1. I was assuming it was when the wick went higher than the prior wick?
So you are using the Closes.
2. What about a pure doji (i.e. no body), go with the close being higher or lower than the previous close? What about if they were equal?
3. Looking at your same chart, let's discuss the swing from 2:15+ to 2:45: a) I had been counting that first green bar, since it's wick went higher? (therefore at bottom of channel you have a valid signal?)
4. My method, of counting the overall "thrust" of each move, i.e. where wick goes higher, seems to capture the essence of each push better (at least that is what I'm finding, see the link below)? With each little channel, you can see each thrust more clearly (sorry for posting ES, but that is what I was working on) So, it was not literally candle by candle but rather each little thrust (grouping of candles), which I'd agree, does make it tricky. Which method is more true to what is taught in your opinion? 2013-07-20_1812 - GregHohman's library
5. I haven't figured the best entry method. A friend told me to wait until the entry bar closes (i.e. not the signal bar), and then place your limit order a few ticks back, that seems to generally work, your thoughts?
6. What is that little white line on close indy, and have you found it indispensible?
Thanks man, gh
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I'm a scalper by choice [ 4tix ] for most trades.
In time I will start to learn to trade like Mack and scalp x amount of contracts off first for 4 tix
and save a few for runners.
Now, it's all in / all out for 4 tix.
Risk will be based on setup bar... so in most cases 8tix or less.
There's another setup I'm looking at named the 'Engulfing' candle setup.
This will be my potential swing setup... going for more tix.
For now I will post charts on this and initial target is 1:1 risk...
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grabbing 4 ticks seems to be the sweet spot, on the ES range moves, where they traverse 6 - 7 ticks from top/bottom of these waves, however,
even using resting limit order entry, instead of market (which usually runs +1 tick higher), how often does the trade work and print +3, and even sometimes +4, but doesn't take you out and close the position?
generally to bag +4, the current price has to print at +5 or higher and remain there to drain all pending / resting orders at +4
1) do you ever short rift and end the failed attempt using "close", instead of letting it reverse into BE or -1, -2?
2) do you ever settle for +3 when you notice it stalling at +4 with no chance of it going to +5 (read note above)
3) do you watch these trades with eagle like precision or set them and forget them?
4) how many dry holes dug before you hit oil? 3:1 losers?, 2:1 losers?, 1:1?
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What I think lsubeano means is that this particular forum is for vendor and product reviews. This thread on Price Action Mack Style sounds more like a trading journal. Check out the other threads in this forum to see what I mean. Much more of a discussion on vendors - good / bad / ridiculous / etc.
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