Anek, I stumbled upon your thread a few days ago and it is truly one of the best I have read, Thank you for your efforts. I have read through the entire thread and I believe I have a basic understanding of your methods. I plan to read through it again to get a better understanding. In the mean time I was wondering if you could answer a question. I have posted a borrowed chart from babe (hope you don't mind babe). I have indicated 3 buys that would have failed, but seemed to meet the basic criteria of an entry. Am I seeing something wrong? Would you please comment? Thanks again.
No, I don't think that at all. I am just wondering if I understand the setup or if I am missing something. I know there are other nuances to the system (trendlines, double tops, etc.). I just want to be sure I understand the basics.
B, Remember, unless you see a double top and that swing low is broken you need two swing lows to short it *and* on a pop up. The chart I posted was an example based on an NQ play I took. Anek
Jaxon, They notice many different price action patterns, a bar close > prev high would be one of many. TRO has some similar stuff albeit in more simple form that could be very useful for price action confirmation. I definitely recommend some of his stuff. This can all be seen from the chart itself but sometimes a little blinking light can help you react faster. Anek
Ed, Thanks, glad you enjoy it. I need to know exactly which chart so I can answer your question correctly. Point me to it and I'll reply with what I see. Anek
Thanks man, I'm going to work on a second chart setup, hoping to find a decent exit signal, compare with the chart you've posted, very inspiring. I'm spotting my entries on a 45 seconds candle chart. After retracement from a HI/LO , there is often a few bars with narrow range. As a matter of fact, this is working OK for me. (Drawing trendlines for the DAX doesn't work for entries/exits. They get violated both directions, while trend remains intact. Of course, yesterdays AM chart is there to prove the opposite.One thing that works most of the time is HH/HL. ) But the 45 secs chart is definetely not OK for exits in the way you're showing (a bar close price above the previous bar's high). I'll work on it, and keep you posted. But right now, I'm going long a few beers as well! PM
Hey Anek I have a few questions. 1) You say you 'reverse' DTs & DBs if they fail. At what point do you consider the failure to be intact? 2) When looking to enter on pullback of a solid trend up or down, do you look to be in on something more along the lines of a Ross Hook rather than needing 2+ bars of HH/HL ?? (For clarification, entering on a Ross Hook out of a pullback would mean taking an entry once a new 1 bar high is made following the first 1 bar failure to create a new high/low in a trend with HHs/HLs or LH/LLs. Sorry if that is confusing, might have to read a few times, otherwise I can put up a chart later visually describing my Q.) 3) When a current trend finally concludes its move and has begun heading in the other direction, what do you need to see from the new trend in its early stages before you consider any of its pullbacks a valid entry point? (Eh, that seems mildly confusing too but not sure exactly how to word it. Easier to show everything on a visual chart. So as I said with the last question if these are super confusing i'll put up a chart and visually express what I'm trying to ask here). Thanks. ~Cx