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suedeuno
Registered: Sep 2004
Posts: 133 |
03-23-08 01:58 AM
Care to explain this a bit more?
Quote from HolyGrail:
On intraday, I actually use three chart box sizes. .5, .75, and 1.0
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HolyGrail
Registered: Jul 2006
Posts: 2803 |
03-23-08 02:07 AM
There are four signals I really like to trade, but sometimes the signals do not appear on my main chart of .75, but they do appear on one of the other charts.
If they appear on the 1.0 chart I know I have to adjust my my target and stops higher. If they appear on the .5 chart I tighten my stops and target.
Many times you will first see a pattern on the .5 and it is repeated on the .75 and finally the 1.0.
I normally don't trade double bottom sell signals, but if I see a triple bottom on the .5, a double bottom on the .75 and a column of 0's on the 1.0 then I am shorting.
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sharp10
Registered: Feb 2006
Posts: 225 |
03-23-08 02:10 AM
Quote from HolyGrail:
There are four signals I really like to trade, but sometimes the signals do not appear on my main chart of .75, but they do appear on one of the other charts.
If they appear on the 1.0 chart I know I have to adjust my my target and stops higher. If they appear on the .5 chart I tighten my stops and target.
Many times you will first see a pattern on the .5 and it is repeated on the .75 and finally the 1.0.
I normally don't trade double bottom sell signals, but if I see a triple bottom on the .5, a double bottom on the .75 and a column of 0's on the 1.0 then I am shorting.
Would you mind posting a ES intraday chart?
Thanks.
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MandelbrotSet
Registered: Dec 2007
Posts: 7246 |
03-23-08 02:22 AM
Quote from sharp10:
Would you mind posting a ES intraday chart?
Thanks.
When he says 1.00, 0.75 and 0.50 he is referring to the box size of the Pnf chart.
All charts have 3 box reversal (unless using another technique).
 chart.gif
This has been downloaded 1731 time(s).
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suedeuno
Registered: Sep 2004
Posts: 133 |
03-23-08 02:22 AM
so .5, .75 and 1.0 is the timeframe?
I agree on the double bottom sell. The odds are very great for a short term retrace on dbl bottom/top
Quote from HolyGrail:
There are four signals I really like to trade, but sometimes the signals do not appear on my main chart of .75, but they do appear on one of the other charts.
If they appear on the 1.0 chart I know I have to adjust my my target and stops higher. If they appear on the .5 chart I tighten my stops and target.
Many times you will first see a pattern on the .5 and it is repeated on the .75 and finally the 1.0.
I normally don't trade double bottom sell signals, but if I see a triple bottom on the .5, a double bottom on the .75 and a column of 0's on the 1.0 then I am shorting.
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HolyGrail
Registered: Jul 2006
Posts: 2803 |
03-23-08 02:25 AM
First I want to show you that it is important to take trades that have a decent risk reward.
Here is a current chart of aes. Would I have sold at the triple bottom sell signal? No I would not. Why? Because I might still be right but it could take me over 8 boxes before I knew I was wrong and there is support only 4 boxes away.
 aes.png
This has been downloaded 1970 time(s).
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