The 3xCC is just another way of looking at the single period; all of the single period opens and closes are visible.
Pick a 3xCC close, any close, and it will be the same close as the single period; this is not so with a true CC.
What you may not like is that there is no set "signal" to enter a trade.
You see something and then you commit to an action on a close:
The ideas that I trade by:
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- PebbleTrader
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Thanks for the illustration.
Have you ever thought of using high / low (extremes) with something like your 3xCC indi, basically it would be similar to it but would use high / low data instead of close.
I think that exploration in the PnF world answered some questions and shed some light on why I had a problem with time based indi's (not just CC's) but I feel like there is still something missing. That's why I decided to go straight to the source and get a good grasp of what time is and then work backwards from there to SpaceTIME (top down approach).
What I am working with is that space can expand and contract, even collapse inward onto itself and time is a direction in space. Also there may be a hidden type of time from us which we might have to learn to ride. It's a interesting "trading universe" I'm just starting to explore...
But ultimately I don't want to confuse trading with science or science with the mathematics of mass psychology. I just look to it for creativity and inspiration and apply if it makes sense/discard what does not.
Have you ever thought of using high / low (extremes) with something like your 3xCC indi, basically it would be similar to it but would use high / low data instead of close.
I think that exploration in the PnF world answered some questions and shed some light on why I had a problem with time based indi's (not just CC's) but I feel like there is still something missing. That's why I decided to go straight to the source and get a good grasp of what time is and then work backwards from there to SpaceTIME (top down approach).
What I am working with is that space can expand and contract, even collapse inward onto itself and time is a direction in space. Also there may be a hidden type of time from us which we might have to learn to ride. It's a interesting "trading universe" I'm just starting to explore...
But ultimately I don't want to confuse trading with science or science with the mathematics of mass psychology. I just look to it for creativity and inspiration and apply if it makes sense/discard what does not.
Life is just a journey
- prochargedmopar
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Your expressed concept of re-investing profits into either stop size OR lot value.
GOLDEN
GOLDEN
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- Jalarupa
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Something MO did in relation to M1 a few weeks ago got me looking at my 3XCC in earnest yesterday as I attempted to get in on the extreme...
My first entry was early and I cut it at 4 pips loss (something MO says about exiting and getting a better price later...) Which I did at the next Psych, as I had been observing that SweetSpots (Psych Levels) really offer brilliant S&R in the short term... and then I tried to trade how I saw how price breaks a SweetSpot line off the 30s Chart, which seems to show it likes to rat the living daylights out of the breakout bounce... (this may be common knowledge to many but the light switched on yesterday)
What I did yesterday was basically look at PnF for possible SR and then drop to this M1 3xCC and took a closer look at what was happening, also threw in some Daily Open and Yearly Open S/R and I must say it was a greatly rewarding day in terms of newer discoveries which just add to what we've been shown by MO RE: Zlines and MOMO
So I'd say PT that yes Time and Space are important... but more so PRICE is what determines SR... just watch how the SweetSpots reject closes on the M1 3xCC's... also look at how many of the 3xCC's look like the WICKDOLLS... Sorry guys but the penny is dropping a little more each week...
Peace
- PebbleTrader
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Can I just check whether I see this anything like I should or do I have it completely wrong? My charts aren't as they should as the 3CC messes up for me a lot and on some of the charts I just cannot get it to display even when I change object layers etc. Anyway.
Short time frame chart show 3CC as I understand it for reading PA etc
Do I have this right - consolidation, then momentum breakout, demand exceeds supply, price retraces back to mighty zone. Take entry on a CC closing within the mighty zone. Price will then go for or against.
Now this is where I continually get messed up, there's no way I was going to trade that chart long yesterday because of this on the higher timeframe:
So I was looking for shorts
And the end result was
Now I know you could say price is closing up BUT price DID close down with momo at a good level on the higher timeframe chart.
Did I get this completely wrong or is this just a 'that's trading' kind of example?
Thanks
Short time frame chart show 3CC as I understand it for reading PA etc
Do I have this right - consolidation, then momentum breakout, demand exceeds supply, price retraces back to mighty zone. Take entry on a CC closing within the mighty zone. Price will then go for or against.
Now this is where I continually get messed up, there's no way I was going to trade that chart long yesterday because of this on the higher timeframe:
So I was looking for shorts
And the end result was
Now I know you could say price is closing up BUT price DID close down with momo at a good level on the higher timeframe chart.
Did I get this completely wrong or is this just a 'that's trading' kind of example?
Thanks
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