Hi proflogic, Been following your thread as well and wondered if you were now on the lookout for a possible buy point on the Dow ( S&P ) on Monday morning? After seeing the morning action that is? erie
Hi ProfLogic, I would like to check with you if I correctly understood your method. It would be maybe reformulated a lot but please let me know if I grasped the concept. Longer time ago I read Hurst and his approach to trade oscillations was very similar (much different tools used though) so I might be influenced by his method and probably confused some parts. Let us check: 1/ There are two charts, Trend (e.g. 7^4) and Timing (7^3), with Ergodic indicator on both charts 2/ On both charts there are formed Prime and Minor oscillations, Prime when Ergodic is above 10 (Prime Resistance) or below -10 (Prime Support) and Minor otherwise 3/ Prime Bull Trend is formed when Prime Resistance is formed above last Prime Resistance and new Prime Support after that point fails to breach last Prime Support (opposite for Prime Bull Trend) 4/ Take long trades only when Prime Bull Trend is established on Trend Chart (opposite for short) 5/ Long Set-Up is formed when Prime Support is reached on Trend Chart in Prime Bull Trend, second set-up is formed PPF (opposite for short) 6/ Long entry is executed on Timing Chart when Long Set-Up is formed on Timing Chart 7/ Trade price (consistently with patience), not indicator, Ergodic histogram just confirms Prime oscillations (zero line break or uptrend/downtrend change not traded) and Ergodic signal line shows divergences which are used just as warning signs (divergences not traded) Exits and stops I leave to everybody's creativity. Here we just focus on low-risk entries in major trend direction. Thanks.
To be precise: 6/ Long entry is executed on Timing Chart when Long set-up is formed on Timing Chart after Long set-up is formed on Trend Chart
one must always keep in mind that TA is descriptive not predictive. regardless of what is claimed or how it's packaged, TA in any form, does nothing but describe the past. regards, surf
It doesn't take much to realize that one must always keep in mind that Marketsurfer does not belong in this thread. That is not predictive but descriptive........ erie