I think the reason rn asked is because there is a distinct difference to measured moves and other ones. If you search his posts he has a real good one on measured moves and other kinds of moves.
In a word, no. The reading I've found on the net all relate to measurements made from some type of reversal formation or some type of pattern. All using RTA. It appears to my untrained eye that the move TO is using is based on a previous "push up/down", for want of better description. That is then attached, at the same angle, to the next push up/down. This would give a rough price target and time target. Regards The Bogan
I use a filtered T&S that also assemblies trades after the CME break it up, still a beginner (will always be) but it has definitely helped me avoid losing trades and slightly better timed entries. Think TE mentioned ages that it is not an absolute requirement (like L2 is not totally necessary) but i find value. Only thing is it take months and months just to get an inclination of buying and selling pressure (as befoe this is my experience others might pick it up a lot quicker)
The Obvious pre-requisite to trading any market is to understand the basics of how that particular market works.
S = size C = charts Random ............ ............ ... ......... ... .......... .... ..... .........
Mysteron and TO posted a couple good charts, a few pages back. AB = CD. In the chart the TO posted, it's used to catch a reversal level. In the chart, the first dominant wave is measured, then applied to the 2nd dominant wave, to project a short entry price target for the end of the uptrend = beginning of downtrend. In my experience, it can be helpful, especially in rangebound markets, where price continually makes 1-2-3 reversals. Problem is, highly trending markets, where each dominant wave is measured, applied to the next, whereupon, price breaks through and keeps trending. The converse also holds - measured retracements. Problem there - rangebound markets where price reverses after the 3rd wave, which the trader expects to be a retracement. Mysteron posted a good chart that illustrates both. This stuff works great. The key - once a reversal is caught, sit, wait and let the move develop. Being the ADD type, I continually try and catch reversals, even after having caught a good signal, shortly prior. Also, like everything else, it's not "tick-accurate". But provides an acceptable reversal range, usually around 10 points.
in hindsight..everything works great..one must be able to adapt to the current circumstances..and not THINK that something will or will not happen..but i do agree A28..targets are a must..as without them there will be no structure to the trading plan..and a sound plan is a must for consistent profits i have been playing with the excel file that TE sent me..and i must say it is very good for seeing real time action to the smallest detail..i will catch a few screenshots for discussion..small bit of work to be done on the colors..should be easily sorted with a little bit of conditional formatting TO