CF your entries are world class. Think about what you wrote - meditate on it. CCI helps get you in - I knew your CCI on the 1 hr was a screamer at the top - at least let it get to the "0" line. That's why i quizzed you about your bullish bar which was a spinning top. Take half off until you can be all-in. But I'd also encourage you to trade the 1 min swings when the move shows structure but watch out for it getting messy - then just sit in it. If you can exit like you enter you will have a stronger reason to hold the trade and you'll find you begin to be closer to always in trading. With such good entries you are close, so close. The 4 hr often has an A-B-C move. If you remember my comments on the last big move. I said the move down would not be like that because the cycles on the 1 and 4 hr would interfere with each other. If you can learn to use your CCI to see when the 4 & 1 are perfectly lines up and when they are not you will know what kind of move you will get. Huge ATM or smaller ranges and several legs.
Yes Will - that's why I mentioned the triangle much earlier today - it was a forgone conclusion which way it was going to break and the flat bottom gave an ultra safe trade all the way to the "C" top. Most traders wait for the breakout and if it's not a fast market the frequent pullback stops them out at al loss. you ention B/o a lot - asking me if I take this one or that one - it's the worst trade to take in my opinion... really low skill level. I can teach a 3 year old what a breakout looks like in a few minutes. Now is that level of complexity going to give you a trading edge? So Willl... no more questions about B/o's
Multiple TF's make sense of indicators and allow a trader to unleash the power of these things. Ensign chat makes great use of them whereas ET traders miss out on something amazingly powerful. I'd encourage you to try setting out the gameplan for the day before you trade. If it's not mature enough you'll see that and be aware when it matures so you can call ATM. I think that will help you sit in trades longer. But once you sit in a few you want to grab it by the throat and trade every swing. That was how I was able to tell you "this move up will fail" when you thought it was bullish up. My call was watching the 5 min get ready to fail after sucking the victims in and the 1 hr was going "fooled ya". Just trying to shake you out. Indicators + PA = $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Yoohoo, Yea will really pay attention to what you adviced in last posts... Looked at hourly CCI and indeed it was almost +300 at the hourly peak... Obviously so overbought... And I shorted there even... Well, a lot to learn... And we live as we learn...
Yeah, I get the you, YH.. need more screen time to enter on the otherside of a wedge/triangle/flag/pannut, was in the convention mind frame.. I understand the theme, now need to bring myself to act on it
Looked @ 1 min for some time now and have come to surprising conclusion... It's not that 1min PA is so messy, more like I watched it from too far distance... Though of course it's a bit more messy than 5min but CCI greatly helps to clarify 1min signals... I now even more agree with your words yoohoo about how valuable are indicators... I'd say that on very short timeframes they are not just useful, but CRITICAL to read PA right...
Hello YH, Been looking at charts and discussing with CF all night. Start seeing this on charts now, the ABC, low of B (4th touch) is a killer combo.. thanks for all these..