AHG - Profitable Strategy for Struggling Traders

On the first setup drawing(2lhs, 2lls), I did not think the price had to retrace past the previous LL. I thought any pullback with a 123 reversal was sufficient.

Am I wrong about that?

PS - I usually post under "edpolton" but I replaced my computer and I had to start a new account because of a password problem

 

Rn,

Please look.

Thanks

Anek

 

The closing above previous bar high or closing below previous bar low is a universal rule for me in most setups.

Same with Resistance, Support and Trendlines, wicks don't do it for me, I need to see substance, in other words a close.

Now, on top of that, if it's a longbar, that would shy me away a bit.

For instance, today I had a long position that was approaching resistance. Right on resistance I bought a couple of contracts at MARKET, making it BREAK resistance, but that was just me playing games with two contracts to push my previous size which was considerable. You want to avoid traders like me by waiting for a close as confirmation.

Anek

 

well, for me it is sufficient to touch or just make a new lower high.. but its a variation Im trying to show as genuine AHG, lets wait for the creator to answer

 

Just depends how aggressive you are. I like the closes better for confirmation. Perhaps when more signals//indicators come together all at once in your favor you can take an earlier entry. Like I said, the earlier shot will reduce risk (stop) a bit, but confirmation is unrivaled.

~Cx

 

It is not required, Rn's example is just optimal.

The bar failure is the important piece of data.

Anek

 

fixed downtrend, thanks, the DT in Downtrend is a mirror for the DB in Uptrend, so what do I need to do - delete the whole setup or redraw to make lows equal?

DB in Uptrend in an attached file

 

Rn,

Yes, the safest bet would be a higher high middle swing when playing a double bottom in an uptrend that had quite the run.

Anek

 

One of the biggest differences between Piscuy and I is that he does not wait for confirmation in terms of a close, I do.

However, he looks for other types of confirmations.

Remember, you can also start small then fortify on the close.

Anek

 

Thanks, That is what I thought,I just wanted to be sure.

Thanks for the drawings RN