Much appreciated for this. The lingo caught me off guard. Any chance you could provide the example of the H&S that happened earlier in the week?
Old news. And they're so rare -- the real ones -- that they're not worth bothering with. By the time you have confirmation, you're already well into the trade and in profit. Better to just stick with the program, which is why this doesn't include "patterns".
DB, I have noticed something that may be insignificant, but perhaps you could clarify for me. On page 15 of the last document you posted, is the following: 2. When price takes off in one direction or the other, wait for a retracement. 3. Enter on that retracement, a few ticks above the trough of a \/ retracement or a few ticks below the crest of a /\ retracement, and stay in until your line is broken. What is confusing is the "enter ... a few ticks above the trough of a V.. This sounds like an entry stop would be placed a few ticks above the last swing high that made the left side of the V after the supply line was broken (for long trade) An entry at this point does not seem consistent with those shown in the straight line threads. Am I missing something, or just trying to be to picky with it?
It is as you understand BMW. Price is going up, DL break, ret, and after the trough of the retracement a rise constitutes an entry.
If it's placed above the swing high, it won't be inside the trough. Can you provide an example of what you're talking about? If not, just look at gears' recent charts. Edit: Sorry, all these responses while I was chowing down. If there's further confusion, let me know. God knows there's enough examples. There's also W's course, which is where I got it from, but you needn't go that far.
Since the NQ has been so vulnerable to wild moves in the majors recently, I thought it might be a good idea to look at them directly since the NQ remains on the cusp of a potentially major move.