Perhaps due to width the forum is stripping part of the code. Here is the ELD to make it easier. Little tip, you can load multiple instances of the ELD at once with different length to obtain a Linear Regression Envelop for the immediate trend and a medium one. As much as you want really but I think more than two is overkill. Load on your anchor chart too. Anek
NQ Weekly Analysis for 11.02.07 Have not looked at the other indexes but to say NQ has a mind of its own lately is an understatement. My study conclusion shows a bullish Nasdaq despite weakness in the other indexes. Attached please find chart analysis of some recent swings or overnight plays taken and key areas identifying the bull move confirmation including subsequent confirmations of next resistance barriers along with support areas that could indicate upcoming consolidation or a change of a trend. There is something else important on that chart that I did not mention, waiting to see who's first. Hope it helps. Anek
Hi Anek, Thanks for the NQ analysis and also for the Linear Regression Envelope. I know some of us are on NinjaCharts, if any of AHG-ers faimiliar with Ninja programming, can translate the code to Ninja code, I would appreciate it. Thanks DT
Hi Anek, Regarding the Filtered Time and Sales you posted earlier, what "size filter" do you use for NQ? So, with this filtered T and S, do you also have regular T and S window (non filtered one) open to see if the market volume is like dead. Also can you please tell me what you use for ES,ER2 and YM( I know you no longer trade YM much,but if you have to). I appreciate it. Thanks DT
D, For NQ >=75 For ER2 >= 50 For ES >= 250 For YM >= 40 I do not watch the lesser car sizes in the tape. Anek
Could you please go into greater detail regarding averaging up. After analyzing your charts I notice you call every addition a "unit". Do you add the same amount of contracts to each unit? Do you have a rule regarding how much profit is in the initial entry before adding? I was hoping you would go into greater detail about your money management techniques in part 2. My opinion is that your greatest edge is your ability to lose only one unit per trade but profitable trades have infinite amount of units. You base these decisions on your chart reading but really this approach could be analyzed and discussed separately. I really like looking at your charts however what really separates you from the rest is step 4 and 5. Thank you, Cokes
Cokes, This is not part II, this is just a continuation of AHG to fill any possible blanks. There is a lot of discussion on the journal regarding averaging up. It is absolutely the holy grail of money management. Now, it requires skill in reading price action and exhaustive dominance of your trading psychology because it will decrease your accuracy while requiring an accurate trader, therefore, it is most definitely for advanced traders. Units are added on additional confirmations that the trend is only getting stronger, protective stops are trailed based on support and resistance geometrics to protect your capital and your recent gains. It's only appropriate for certain days, days where there is panic or euphoria. As far as discipline, once again as explained several times in the journal, it is your most important asset as a trader. There is a very good chance I'm not the best trader in the ET forums, probably not the best money manager either but I'm willing to bet one unit, that when it comes to discipline, I'm up there with the very best and if proven correct, I will bet you an additional unit that the day I lose the disciplinary edge, I will lose them both. Anek
NQ is also forming a reverse head and shoulders where the right should is at the neckline. The neckline also forms a triangle with the upward trendline. It's not a symmetrical triangle so I'm not sure it has a lot of value. http://images.sierrachart.com/upload_2/1194075421_56_UploadImage.png
A. Comparing your entries of trendline hits vs. lower low + 1 tick. What kept you from going short on breaks of the 4 supports I added to your chart of yesterday. I tried a couple of them, which of course went nowhere. In retrospect I see that the distance to the lower trendline from any of those possible entry points is minimal, if it were viewed as a resistance level. So the room to play is minimal. Such a sell would really be a gamble on a break of that resistance line instead of a bounce which has a higher probability. Is this it? As opposed to a more dramatic sell off where a pullback may not even come back all the way to test the last swing low. In that case a lower close +1 tick would be more appropriate. Sound about right?