Recent content by sponge

50,000%

No worries there. Those who think fixed targets shouldn't be used have a completely different philosophy on extracting profits from the market than those of us who use them. I am only interested in consistency, not maximizing my ticks in a trade, and I believe using appropriately sized targets...

Thank you for responding. I've been going back and forth between 8 and 10 ticks based purely on observation, so nice to see that it's pretty much in line with what you've found statistically.

Do you mind me asking what you have found to be the statistical sweet spot of MFE in the ES? And how often does that sweet spot change?

Hi NoD, Thank you for your response. Perhaps I did not phrase my question clearly. I'm not so much interested in how you use the 20 MA, but your reasoning as to why you believe it provides S/R?

Just curious for your reasoning behind a 20 period MA providing support during a pullback, as opposed to support that is created by actual price. And why 20, not 19 or 21?

Well obviously if you have them on 2 different settings (as you did) you are going to get different results, but on the same setting they are absolutely identical. Anyhow, not a big deal, just thought I'd point it out :)

It is interesting that you prefer W %R and believe that it gives you clearer signals, considering the %k of the stoch provides an identical trace to the W %R. Larry sure must have been one heck of a salesman :)

To clarify, I'm referring to ES.

Does anyone know where I can find the 'official' RTH Open price for the day? I tried the CME website but could only find the full session open. Thanks!

What part does the size of the pullback play to indicate a potential setup? It appears from what you have described that you're looking for a smaller sized pullback (< z bars) that then fails to make a HH as a potential reversal?

I see, thank you for the explanation. What are you using to obtain bid-ask data for 10+ years back? Also, could you further clarify what you mean by "providing you do not alter the format then the relativities contained within the macro view are maintained"?

What data are you using to measure the "bullish/bearish inflows"?

Very intelligent response, thank you for avoiding the topic at hand.