Just wondering about these formations Anek.... would it be that the second swing low/high goes beyond the first - triggering all the stops lying 1-2 ticks outside these areas creating very powerful reversal patterns?
Great chart Anek... missed one of the longs in the morning for 5 points - its speed caught me out, and closed another 5 pointer out for no reason capturing only 2... all in all was +6.5 points on NQ on 8 trades - finished just as that rectangle started forming... Love it...
I find it funny that you tried to decypher the M bottom W puzzle, then commented on the NQ chart yet you did not comment on the rare ass W top formation on the NQ chart you just reviewed Ahuh - another drunk ! Anek
Thanks for the nice charts Anek. I really like the way of trading with small stops. So, your stops in NQ are like atmost 7 to 8 ticks ? Also Screenstruck, thanks for the Ninja 3 bar reversal indicator. DisciplineTrader
Big, Ya I know about Gartley but this is much different, the only real one Ive seen is the one on the Daily ES. The rest are close but not exactly W tops. Anek
You are welcome. Depends on the candle, the smaller the candle the bigger the stop. Not sure if that makes sense but some room must be given. Truth is I hate big stops, unless I'm playing a pattern, then that's a whole new set of rules because they are not scalps and by definition the car size is obviously smaller at the beginning of the play. Anek