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TF day trading

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  #441 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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hector24 View Post
Bluemele, I find your videos interesting. It seems that you are determined on trying to make your method work, that's great. If you don't mind can I ask you a some questions:

1. In a lot of your videos you mention a head and shoulders intrabar. Could you please explain what one looks like in your definition.

2. You also mention dual bar reversal. Could you also explain what one looks like in your definition.

3. On some of your charts you have another indicator at the bottom. May I ask what that is and what the settings are.

4. What is the main indicator that you look for to determine market direction.

Thanks
Hector

Hector,

1. a H&S bar is very common. I would do a google for chart patterns like here Chart Patterns, commodity and stock chart patterns, charting, technical analysis, commodity and stock price chart analysis, stocks, futures and options trading that will show you many chart patters.

2. Two bars that stop at the same point and reverse.

3. MACDBB, you can find it here at Big Mike's. There are a few versions.

4. I mainly use FIB's to visualize what the market is doing, along w/ longer term charts but Horst wants me to move away from that. I just want 2-3 points.

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  #442 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
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Ok, here I go again down that road, going down the only road I have ever known.

A little whitesnake to wake me up today. Took 6 trades... OUCH....

I KNEW it was going to head down. The key things I didn't do is once my first or 2nd area failed, I didn't reach in and find a new one etc..

I will start meditating and visualizing again as I think that is the only way to actually follow my trading plan. Today I was a bit angry at the market and that is not good. I KNEW (which I don't think is good) that it was going to drop and I could have stayed OPEN.

Horst gives me advice and I completely ignore it. Why? Good question.


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  #443 (permalink)
miksnake
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bluemele,

Did you take the NewFuturesTrading course for your methods? If so, could you comment on what you thought of them?

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  #444 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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miksnake View Post
bluemele,

Did you take the NewFuturesTrading course for your methods? If so, could you comment on what you thought of them?

Hey, look in the 'vendors' section on the forums. Plenty there.

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  #445 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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No trading today. I was going to trade tonight, but I saw the market info from a quick splash on CNN while at the Doctor's office, so I don't want to be tainted.

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  #446 (permalink)
ronbary
Israel
 
 
Posts: 11 since Jan 2011
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Hi Blue ,

i just watching your videos and find your price action strategy very nice

i have some question if you don't mind


0) can you explain why you have so many MACDBB confirmation little charts the 3 upper are for short term view and 3 on the lower panel is for long term direction of the market ? how you use them ?

1) once you decide enter long or short how you confirm your entry using the MACDBB on the 144 tick chart
2) what you look for on the MACDBB ? i have it also and found that when MACD just breaking above upper BB this is good entry time , is that what you look for?

3) can you explian which timeframe you use for MACDBB at the time of the entry ? my tought is the 144 is your setup entry chart so confirmation might be good using 377 that's about multiple of 3 of 144 .

i mean which MACDBB ( timeframe 233 , 377,610,...) used for the confirmation

becuase MACD is measuring Momentum and direction .

4) i saw lot's of time you using the term good seperation , what do you mean by that , and can you explain what you look for this seperation in order to confirm the market direction ?
seperation of the BB bands or seperation between MACD and one of the BAND of BB


by the way i'm using also multiple charts with MACD 100 , 330 , 940 ticks


thanks in advance

Ron

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  #447 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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ronbary View Post
Hi Blue ,

i just watching your videos and find your price action strategy very nice

i have some question if you don't mind


0) can you explain why you have so many MACDBB confirmation little charts the 3 upper are for short term view and 3 on the lower panel is for long term direction of the market ? how you use them ?

1) once you decide enter long or short how you confirm your entry using the MACDBB on the 144 tick chart
2) what you look for on the MACDBB ? i have it also and found that when MACD just breaking above upper BB this is good entry time , is that what you look for?

3) can you explian which timeframe you use for MACDBB at the time of the entry ? my tought is the 144 is your setup entry chart so confirmation might be good using 377 that's about multiple of 3 of 144 .

i mean which MACDBB ( timeframe 233 , 377,610,...) used for the confirmation

becuase MACD is measuring Momentum and direction .

4) i saw lot's of time you using the term good seperation , what do you mean by that , and can you explain what you look for this seperation in order to confirm the market direction ?
seperation of the BB bands or seperation between MACD and one of the BAND of BB


by the way i'm using also multiple charts with MACD 100 , 330 , 940 ticks


thanks in advance

Ron

0) Yes, you got it right!

1) Typically I don't always do this which is part of my issue. I am supposed to, but sometimes the 144 setup looks different then the perfect 'foot'. You want the BB on top of the rail w/ separation (which means a big move or spike just occurred or there is no strength for the move).

2) Yes. However, this is also commonly a bull flag, so that is why you look at your other charts.

3) I use mainly the top 3 for my entry and bottom 3 for my 'trend' direction etc..I have gone back and forth on these a bit over the months as during different market conditions, different things happen or setups look different on the MACD's. Typically during a normal day ranging market that is what I do. Sometimes, when the market is super duper fast, I hold off and wait for a major area before considering anything (well, at least I am supposed to....).

4) Separation between MACD BB (green and blue dot which is really the 12 Moving Average) and the bollinger band.

Good for you, maybe start a journal and share your success.

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  #448 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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OK, saw the entry pretty clearly, but it was a dangerous area to enter. I scaled a bit too early due to it hitting the 38% retracement from the bottom to top and I chickened out. The 50% was a bit further down (2 points) and I just didn't have the faith in me to make it happen. The main reason for that was because my entry area was already at the 23%, so I decided to take some off the table just in case it came back up and gets bumpy.

video


I need to start talking and thinking more. I noticed that my brain is falling asleep at the wheel.

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  #449 (permalink)
ronbary
Israel
 
 
Posts: 11 since Jan 2011
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Hi Blue ,

thanks for fast reply ,

so as i understand from you the seperation is from the MACD line ( the dots) and the BB bands ? correct

As for the seperation issue i want to see if i have it right on the use and patterns that can be used
i can see some ideas and pattern :

1) Bullish seperation pattern:

when you have seperation i mean the dots line (MACD) seperate from the upper BB band and above it .
(if you see 3 or more dots that above upper BB band ) this is start of seperation .


2) Bearish seperation pattern :

when you have the dots line (MACD) below the lower BB Band ( if you see 3 or more start printing) this is start of seperation condition


some questions i have:

1) So when you see Bullish or Bearish seperation on the 610 or higher TF you might be trading with the direction of the seperation ? i think it's good support from higher TF

2) i suggest using middle line with the BB (i'm experiment it) and when you have crossover MACD dots crossing the Mid line on 610 or 987 that strong signal to upside or downside . and take the next trade with the direction of the cross , you have to consider more conditions with this ( price action , support resistance .. and more ) but just experiment this or pay attention to this . what do you think ?


3) What is the use of the Keltner channel on your 144 ticks ? to detect oversold or ovebought areas for possible trade reversals ?

4) you use the patterns Bull / bear Flag , do you use it on the price action chart ? or do you mean those are patterns on the Indicators MACDBB charts ?

5) Can you post examples of the different Patterns you mention on the MACDBB indicator

i want to see how to detect the following patterns on the MACD and
what is the purpose or using of them , it's just gives you sentiment or how strong is the trend going ? correct

Bull Flag
Bear Flag
Divergence on MACDBB - (it means BB bands turn to upside but MACD making lower high action ? )

thanks in advance


Hope my comment will add some stuff for tought .

Ron

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  #450 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,839 received



ronbary View Post
Hi Blue ,

thanks for fast reply ,

so as i understand from you the seperation is from the MACD line ( the dots) and the BB bands ? correct

As for the seperation issue i want to see if i have it right on the use and patterns that can be used
i can see some ideas and pattern :

1) Bullish seperation pattern:

when you have seperation i mean the dots line (MACD) seperate from the upper BB band and above it .
(if you see 3 or more dots that above upper BB band ) this is start of seperation .


2) Bearish seperation pattern :

when you have the dots line (MACD) below the lower BB Band ( if you see 3 or more start printing) this is start of seperation condition


some questions i have:

1) So when you see Bullish or Bearish seperation on the 610 or higher TF you might be trading with the direction of the seperation ? i think it's good support from higher TF

2) i suggest using middle line with the BB (i'm experiment it) and when you have crossover MACD dots crossing the Mid line on 610 or 987 that strong signal to upside or downside . and take the next trade with the direction of the cross , you have to consider more conditions with this ( price action , support resistance .. and more ) but just experiment this or pay attention to this . what do you think ?


3) What is the use of the Keltner channel on your 144 ticks ? to detect oversold or ovebought areas for possible trade reversals ?

4) you use the patterns Bull / bear Flag , do you use it on the price action chart ? or do you mean those are patterns on the Indicators MACDBB charts ?

5) Can you post examples of the different Patterns you mention on the MACDBB indicator

i want to see how to detect the following patterns on the MACD and
what is the purpose or using of them , it's just gives you sentiment or how strong is the trend going ? correct

Bull Flag
Bear Flag
Divergence on MACDBB - (it means BB bands turn to upside but MACD making lower high action ? )

thanks in advance


Hope my comment will add some stuff for tought .

Ron

Ron,

I appreciate your interest and enthusiasm, but at the moment, I am just too busy to do post anything extra. With 2 kids now, a full time RE development job and life in general it seems my trading is being pushed to the back a bit for now.

I like your points, but not quite sure what you mean. Feel free to post pics of what you mean and I will see if I agree or not and can add that to my repetoire. I appreciate you posting though, but just short on time.

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