Morning CF. Nice one - as you tie the CCI on bigger TF's you'll start to see which 1 min reversals have small, medium and large energy reserves and holding times will start to have more meaning. So when you see a countertrend that looks great on PA but has no gas you'll be able to say like me yesterday that "this move up will fail". Rather than exiting on failure you will reverse into continuation at Bevn or with a small profit and often double your profits with continuations. Indicators and multiple TF's are a killer combo when you have learned PA. If you read what I said about indicators in the stochastics thread it will start to make sense to you. Big well done for keeping an open mind and applying yourself - now you will reap some very big rewards.
Good stuff Willl and it's a pleasure to share with you guys. Just remember that what you learn last seem like the most important thing ever and the brain over emphasises it. That's part of assimilating new information, but if you are aware of this happening you'll catch yourself on and get a balanced perspective.
Today there are ET posts asking why oil moved down. I had posted an oil chart in CF's thread to show that what you learn here applies to every market, and that every technique works it you learn how to master it. Applying monthly lines to a daily chart is pretty crude (if you'll pardon the pun) but the power when you get it right is shown in not just the reaction but the exact parameters of that reaction. Meanwhile ET's scratch their heads and wonder.
CF, notice where your +300 CCI finished? A-B-C and how much time? How much time did you give it? heehee
Morning all, Not much trading and watching for me today as I leave to celebrate dad's birthday (big date, he's 70 today), but guess will take a look at the mkt and the thread from time to time... Wish you guys to make an excellent profit today!
From what I see the ABC sequence indeed topped exactly at the close of 1H bar... And of course the top of C wave combined with such an overbought position were pretty good signs of an hourly retracement at least, seeing it now. But still seems amazing how meaningful are hourly closes...