Search results

Speaking of break outs, we are now breaking out of this huge channel. If the resistance area turns to support, we could get a big rally. Dont' trade the break out though, wait for the support to prove itself first.

By the way, the green and red lines are the High and Low of the day. The blue lines are the ones I placed on my charts this morning. They were basically identical yesterday. Don't always expect perfection on these bounces, but they will often times bounce to the very tick. Just be prepared...

I zoomed way out on my 770 tick trading chart so you can see the big picture. Notice the channel we are locked in and how many times we have bounced off these lines. If you took all those bounces and rode them to the other side, you would be deep in the pockets right now. We appear to be...

Now we are actually bouncing off the major resistance, I didn't take that pull back because I felt we were too close to the major resistance area. There would have been enough room to make a good profit had you taken it though. I'm not good enough to do it, but I know a trader that has...

I only look at one chart. I use a 2400 tick chart at the start of the day and use it to transfer the major S/R lines to my 770 tick charts. After that, I only look at my 770 tick chart. I tried moving to a smaller tick chart for entries, but that doesn't work for me. I get confused and then...

Amitman, work on using the 3 bar entry and getting in at the pullback/turn, then be prepared to do something when price reaches the previous S/R area. Had you used a 3 bar entry, you would have had 2 full points of move to work with before prices stalled at that DB, plus you would have been in...

That's a 770 tick chart. It looks almost exactly like the 10000 volume chart to me, but I see more wicks on the tick chart, so that's why I use it rather than volume. I tried to use the volume charts and did not do so well, so went right back to my tick charts.

Stick to the 3 bar method. :) The only way I ever use an early entry is to scalp a few ticks and go to BE immediately on the rest. If you are wrong, or even suspect you might be wrong, cover quickly. If you lose a few ticks, you can easily make them back. If you take a full stop, well...

Exacty Max.

Max, you had asked about this and today had a great example. Here's a perfect DB, followed by a HH. When that HL set up after the HH, that's when you go long. This was a text book DB play.

Infinity, there is actually plenty of information in the first two bars, and bar two is very important to the set up. Also, I have said over and over that I don't recommend this entry. In addition to the information in the two bars and all the prevoius bars, there are other things you look...

Here's my starting chart this morning with my S/R lines. These are basically the same lines from yesterday. Notice that we are mired in congestion between two of the S/R lines and they have both repelled prices several different times. These areas are key areas. If we break out of them, it...

One other thought on this. Imagine how all those traders that trade the break outs felt when they took this trade at the exact high? That's why you can't be successful trading break outs. No telling how many amatuers got sucked in at the high here, and to the very tick, then watched in horror...

That was also a DT in my book. It wasn't to the exact tick, but there was no close above the last high. Only a couple of ticks inidcated by the wicks there. For all practical purposes, that was a double top. A perfect place to go short. Any time you see a DT or DB at a critical sup/res area...

Floyd, on a 2 bar entry, I look for a wick on bar two, the longer the better, then when bar three breaks the low of bar 2, I enter the trade. The high of bar three should be lower than the high of bar 2, as well. Reverse for long entries. I don't recommend the 2 bar entry and you are...

Last try here. Not sure what's happening.

The chart did not attach last time. Trying again.

A picture here would be easier than describing I think. The 2 bar entry is the same, only I enter on a break of the low of bar 2, rather than bar 3.

Thanks for sharing. I always assumed it was just an easy way to say "contract" without typing it out every time. I'm always learning something new. The word "Print" used to throw me when I heard the old timers talk about it as well. Correct me if I'm wrong, but I think it goes back to the...

Normally I take a 3 bar entry, but today I have been more aggressive. I usually trade 2 contracts, and scalp 6 ticks on one and go to BE on the other. If you get in early, it's not hard to get 6 ticks, so that's why I'm looking for earlier entries. 3 bar entries are probably the best bet...