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one of the most important rules of the original setup is to go short after a big move up. of course the other setups are volume and inside, outside and reversal bars.
but a big move will most likely bring the price outside the keltner channel.
Yes...and no. Maybe most of the time, maybe not. I guess it depends on how you define a big move. Probably a bar whose range is > some large multiple of ATR.
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The question here is a question of time. If there is an inside bar directly after a big move up, which lead outside all channels, there are three possibilities
(1) continued move up
(2) consolidation
(3) reversal
(1) is unlikely, and if you look at shodson's examples, the upmove was followed by a consolidtation back into the Keltner Channel 3 out of 4 times. So you would not trade a breakout to the upside, unless the consolidation has taken place.
(2) is the most likely outcome
(3) is the most likely outcome after a new release, because price needs a neutral evaulation of the longer term impact of the news, after the news traders have had their game.
+11 & +15. I was a bit worried on that last one. I almost didn't take it. ES was in a trading range and was really choppy. But I told myself to trade it like a robot. I did put my buy stop 2 ticks above because the previous bar's high was 1 tick above and I wanted it to clear both.
It triggered and then I took a lot of heat. Then Crude broke out so fast my head spun. ES followed slowly like a turtle.
My ES trading sucked so it was nice to score two winners on crude.
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My brain is fried from other coding projects, making candy seems funner for now.
