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Humble
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Postby Humble » Fri May 29, 2009 1:07 am

MightyOne wrote:~~
One technique I employ is the use of 2 long term candles and the rule that the shorter TF of the 2 cannot share the same price extreme if I wish to trade the reversal. Pips happen if you just let them happen ;)


I love it when you talk abstemiousness.:)

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razorboy
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Price flip

Postby razorboy » Fri May 29, 2009 1:17 am

as we are looking for the greatest advance that doesn't return to its low to signify an upturn/trend in the market or an advance that doesnt reach it's previous high, followed by a lower low, i thought this picture demonstrated it pretty well.

The question is, where do you enter and how do you gauge your risk........in other words, when is the trade not going your way.

I've been short since 135.09 - price made a lower high.....- looking for 133.50......


thoughts?
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Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

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MightyOne
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Re: Price flip

Postby MightyOne » Fri May 29, 2009 1:58 am

Actually it is the greatest advance THAT RETURNS to the low that we are looking for.

If price rises further than the largest rise that returned to the low then chances are that price will not return to the low.

razorboy wrote:as we are looking for the greatest advance that doesn't return to its low to signify an upturn/trend in the market or an advance that doesnt reach it's previous high, followed by a lower low, i thought this picture demonstrated it pretty well.

The question is, where do you enter and how do you gauge your risk........in other words, when is the trade not going your way.

I've been short since 135.09 - price made a lower high.....- looking for 133.50......


thoughts?
Image

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razorboy
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Re: Price flip

Postby razorboy » Fri May 29, 2009 12:05 pm

MO,

you are a harmonics guy arent you.............


MightyOne wrote:Actually it is the greatest advance THAT RETURNS to the low that we are looking for.

If price rises further than the largest rise that returned to the low then chances are that price will not return to the low.

razorboy wrote:as we are looking for the greatest advance that doesn't return to its low to signify an upturn/trend in the market or an advance that doesnt reach it's previous high, followed by a lower low, i thought this picture demonstrated it pretty well.

The question is, where do you enter and how do you gauge your risk........in other words, when is the trade not going your way.

I've been short since 135.09 - price made a lower high.....- looking for 133.50......


thoughts?
Image
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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MightyOne
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Postby MightyOne » Sat May 30, 2009 5:05 am

Enter up to 3 times as TRO suggests.
[s]
I should add that the best time to use this is right after a larger correction is made.

Remember that a larger correction is only made after price returns to the prev. high/low.
[/s]

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MightyOne
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Postby MightyOne » Sat May 30, 2009 5:29 am

Image

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MightyOne
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Postby MightyOne » Sat May 30, 2009 5:44 am

This is the "my mind went numb reading Mastering Elliott Wave by Glenn Neely so I took some of the concepts and developed my own" count :lol:

Image

If you don't understand then don't worry about it because you don't need to know.
I took an axe to Elliott/Neo Waves with the question "how can I arrive at the same answer w/ out being overly technical ;)

One day I may bother to use it the right way...

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MightyOne
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Postby MightyOne » Sat May 30, 2009 6:31 am

Don't think too hard :evil:

I am just showing you a few more areas that may offer a higher probability for reversal.


Image

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razorboy
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Postby razorboy » Sat May 30, 2009 12:07 pm

some days I hit those big moves spot on and other times a disaster - I'm not interested in being a 75 pip a week trader - cant justfy the risk or time involved in that.........


I'm a little groggy so i may be incoherent, but let me try and articulate

price breaks a range and moves a lot - if you miss it, you then look for and compare the relative corrections and countertrend moves for your entry points from the new high or low that is established after determining if trend is up, down or flat. I think it is this analysis that I keep screwing up.

is it the relative corrections and countermoves that has you calling your high/low @ the 135.30ish area (flat trend - havent got your terminology with relative corrections/countermoves handy so I can't explain at the moment)

Am long from friday afternoon near the close


PS - what makes you know when you are just flat out wrong?

I got FUBAR'd fading the 135.00 region around 13:30 EST on thursday by a few pips so I went in short again....thought things were going to break my way substantially and they didn't so I got out at breakeven.

PPS - when i finally crack this with some consistancy, I am going to trade myself to an airplane ticket, hunt you down and either beat you up for making me so crazy working on this riddle or buy you a beer - maybe :)both


MightyOne wrote:Image
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

teoman
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Postby teoman » Sat May 30, 2009 12:47 pm


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