Here is one of my other plays. Which I will tell you at a later date.This is a short term scalp. Take a look at the chart. we are playing for about 40 points. I will scale out on every third. to my target.
http://quote.prophet.net//applets/j...ration=60d&frequency=60m&forceOrient=portrait
CJ
http://quote.prophet.net//applets/j...ration=60d&frequency=60m&forceOrient=portrait
CJ
cheers.
So far today (from 5 min chart) long 028 exit 046 and now waiting to see if the larger long from the low stacks up - eyeing 040 entry for 068 exit - if this pans out then there may be a decent short from 070-087 (target area 10005 - 9988).
So far today (from 5 min chart) long 028 exit 046 and now waiting to see if the larger long from the low stacks up - eyeing 040 entry for 068 exit - if this pans out then there may be a decent short from 070-087 (target area 10005 - 9988).
trendie
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another go at reading this !!
Mon/Tues Oct 11/12 - Dow.
15 min charts. Prophet.net.
Monday; 15:00 ( US time ), High = 10,098 ( P1 )
Tuesday, 10:00 ( US time ), Low = 10,017 ( P2 )
range = 81 ( round to 80 ) 25% = 20 points.
Tuesday, 14:45 ( US time ), High = 10,102 ( P3 )
Did a SHORT get triggered at 10,082 ?? ( 10,102 - 20 )
( Target= 10,021 ( 10,102 - 81 ). )
I didnt see the BUY - I still tend to trade in the direction of the main trend !
Have I read this right ?
Mon/Tues Oct 11/12 - Dow.
15 min charts. Prophet.net.
Monday; 15:00 ( US time ), High = 10,098 ( P1 )
Tuesday, 10:00 ( US time ), Low = 10,017 ( P2 )
range = 81 ( round to 80 ) 25% = 20 points.
Tuesday, 14:45 ( US time ), High = 10,102 ( P3 )
Did a SHORT get triggered at 10,082 ?? ( 10,102 - 20 )
( Target= 10,021 ( 10,102 - 81 ). )
I didnt see the BUY - I still tend to trade in the direction of the main trend !
Have I read this right ?
trendie
Legendary member
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ChowClown said:Good trading CJ
Trendie, I've attached a few snaps of how I read yesterday. The setup you've described below was a potential trade I was eyeing up, but didn't materialise as P3 ended up higher than the 11th's P1.
Yes, P3 passed P1 by around 4 points.
I need to focus more and be more ruthless and clinical about rules.
I considered it as the main thrust appeared to be down.
Chow, do you use TrendSignal by any chance?ChowClown said:Good trading CJ
Trendie, I've attached a few snaps of how I read yesterday. The setup you've described below was a potential trade I was eyeing up, but didn't materialise as P3 ended up higher than the 11th's P1.
JonnyT
Hi there chowclown - stoped out of my Dow posn whilst watching the football - duh!
One question: you mentioned at the start of this thread that you felt that cj12's method was similar to 123 reversals. Do you have much success with 123s? I read about them on Newtron Bomber's FX site but when tried them myself I found the set ups hard to spot. Do you have favourite conditions or timeframes that increase the reliability?
Cheers - Fastnet
One question: you mentioned at the start of this thread that you felt that cj12's method was similar to 123 reversals. Do you have much success with 123s? I read about them on Newtron Bomber's FX site but when tried them myself I found the set ups hard to spot. Do you have favourite conditions or timeframes that increase the reliability?
Cheers - Fastnet
I suspect this thread will die a death, as we had our firsts loss. The win on the short trade covered this loss.
No trades intraday on the YM today/but a few on the Dow 30 shares. chart below.Fasnet sorry about you loss. What I have giving you here is raw, I look at other filters to get me in and out, I will tell you all at a later date, but you need to digest what I have given you.
Fasnet you mentioned about 123 reversals. Take a look at Joe Ross, he trades these, but he didn't discover them, they are years old. there are many ways to trade them. But what I have giving you is something to implement in to your own trading.
CJ
No trades intraday on the YM today/but a few on the Dow 30 shares. chart below.Fasnet sorry about you loss. What I have giving you here is raw, I look at other filters to get me in and out, I will tell you all at a later date, but you need to digest what I have given you.
Fasnet you mentioned about 123 reversals. Take a look at Joe Ross, he trades these, but he didn't discover them, they are years old. there are many ways to trade them. But what I have giving you is something to implement in to your own trading.
CJ
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Hi FN,
Unless 123's hit me in the face, I don't trade 'em. On FX, I prefer using 5min intraday with MACD(12,8,8) tacked underneath to indicate divergence and help with exits. If it's a well proportioned setup, then reliability is likely to be similar across all time frames.
Using CJ's 65%-85% retrace area is very useful and as he points out, using other bits and pieces to assess the entry point (at that time) is vital.
Looking forward to hearing more CJ
Cheers
Unless 123's hit me in the face, I don't trade 'em. On FX, I prefer using 5min intraday with MACD(12,8,8) tacked underneath to indicate divergence and help with exits. If it's a well proportioned setup, then reliability is likely to be similar across all time frames.
Using CJ's 65%-85% retrace area is very useful and as he points out, using other bits and pieces to assess the entry point (at that time) is vital.
Looking forward to hearing more CJ
Cheers
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