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That's the same trade I was in (BCE as well I think), I was long from .48, and exited at .78, for no good reason other than it stalled... I will force myself to try this strategy this week when I see strength.

Did not like the action on CL today ... came out -5 for the day. 2 good trades, but about 6 dumb ones, and the two winners I should have let ride for 30 more, and 15 more, to hit my original target. I will learn one day, hopefully that day is soon.

lol, let's leave it as is :-) My point is only that diagonals work quite often, as do horizontal levels. I think discounting the significance of traders to respect either, in the appropriate context, would be a mistake.

In the context of a 100% mechanical, objective system that blindly buys and sells based on MAs, I agree. When human discretion can be allowed to give context to a particular moving average serving as support, then they can be quite useful. "When X crosses over Y, then buy..." is bound to fail...

I see what you mean Mark -- I won't go into my views on trending and price movement then since that's not your intention. It's funny you mention the terminology, because I almost said in my last post something to the effect of, "horizontal trendline" may a bit confusing. When we think of...

Here is a CL chart from today. It's only one example so I'm not trying to prove anything by this one example, and it's only one market. In this chart though, do you see the horizontals or the diagonals being respected more? Draw the lines, and draw your own conclusions and post your results...

Depends on what time frame you're talking about trending. "Markets only trend 20% of the time" is oft-quoted, rarely supported with data. A range on one time scale is a trend on another. Price moves in a continuous flow, and is always trending in some direction.

With the earlier long all it would take is trailing the bar lows on the 1m with as much strength as it showed... kinda stupid exit on my part.

Yes I need bigger wins to offset some of my bonehead trades. Or just fewer bonehead trades would do fine for me. Your formula is correct, you're just using the pit session. I just calculated the PP based on the pit session HLC/3 and that's what you've got. I'm using the globex HLC (well...

Longed .48, break of 5m 10:20 bar, bounce off 5m EMA, closed for +30 at .78 .. I am still closing early, as 91 seems impending (actually just hit it). Pretty quick, no real heat except for initial heat. This is after a losing trade earlier on a short that took me out to the tick so I needed...

Your PP is not based on the daily chart it seems .. should be 91.13 or so... unless maybe you're using a pit PP for some reason instead of globex.

nice bull flag on 1m .. if ema holds, will consider a long above .40 ADD -- BUT, 15m EMA still serving as resistance, so need to see a break of that.

Your method does not objectively define HH and HL, thus is open to an individual's interpretation of what that means. The NT indicator is ZigZag, and specific inputs are needed to define what a new higher high is, for example. The three charts show 3 different settings which yield different...

But if you can see it but not program it, it's discretionary and not ambiguous. I think it's pretty easy for ANY one to see. That's not the hard part, and that's my point.

I used to think pivots were voodoo and useless, but after giving them a chance I found them to often be areas of attention. Not always, but often enough to use them as target areas, or as zones where a "base" of demand or supply can build. Not only daily pivots, but weekly as well, probably more...

How do you programatically define HH and HL?

You're talking about a completely programmable, non-hands-on, automated system, right? If so, do you have one example of one that has been profitable over the course of, say, 2 years? Also, can you make up some entry criteria that a user of such a system might have? You said "conditions x...

Can you give an example of a "profitable system" (could just be made up, it doesn't have to be real)? I dislike the word "system" because to me it seems to imply something that can be programmed, and IMO all purely mechanical systems are doomed to failure sooner or later. I love the title of...

Exactly -- but then attaching specific and actionable meaning to those things and then planning and executing a plan based on that is the reason why one trader can see it and lose money, and another can see the same thing and make money!

Thanks, good stuff. I like to hear an explanation as "simple price action" can mean different things to different people!