A simple price action approach

[crazyAtrader]

Quote from Xspurt:


For a trend line to offer a trader the chance to profit we need 2 clear swing points and then a potential 3rd. We can trade the 3rd based on PA signals combined with multiple time frame analysis.

When we have 3 reaction points and PA is making a 4th approach we have a confirmed trend line and the PA signal carries more weight.

Trendlines can be accurately predicted before they actually become trendlines making the 2nd pivot the most reliable pivot of them all.

To some it will sound like an impossible task to others food for thought.

Crazy A

 

[Xspurt]

Quote from crazyAtrader:

Trendlines can be accurately predicted before they actually become trendlines making the 2nd pivot the most reliable pivot of them all.

To some it will sound like an impossible task to others food for thought.

Crazy A

Care to say who taught you that, or did you discover it yourself? You are correct, point 1 is established beyond price and there are a number of ways to qualify it, but it will drown any progress here as you are quite a few leaps ahead.

I can't see this thread ever getting there.

 

[crazyAtrader]

Quote from Xspurt:

Care to say who taught you that, or did you discover it yourself? You are correct, point 1 is established beyond price and there are a number of ways to qualify it, but it will drown any progress here as you are quite a few leaps ahead.

I can't see this thread ever getting there.

After neglecting sex for charts you kind of start noticing things

Crazy A

 

[1a2b3cppp]

Quote from crazyAtrader:

Trendlines can be accurately predicted before they actually become trendlines making the 2nd pivot the most reliable pivot of them all.

To some it will sound like an impossible task to others food for thought.

Crazy A

Teach us guru

 

[ammo]

1a, drop the chip on your shoulder,it's impeding your learning curve

 

[eudaemon]

Where is NoIhavaSushi when you need him?.

 

[eudaemon]

Quote from crazyAtrader:

Trendlines can be accurately predicted before they actually become trendlines making the 2nd pivot the most reliable pivot of them all.

To some it will sound like an impossible task to others food for thought.

Crazy A

Wow. Someone discovered the "first back" concept, and he isn't who taught it to me...

 

[Xspurt]

Think I am finished in this thread with this post. Hope it helps some of you.

Attached is an update for those who wanted an example of a perfect trend line/channel. We are about 90 mins into the day and the Dow has reacted hard to the trend line.

You can see the sell signal on the 2, 5 and 60 min candles. All in all a perfect set up.

You can also see how contrived and extremely difficult it is to do this so don't try it at home

(The trend lines are automatically placed on the intraday charts from the daily)

 

[1a2b3cppp]

Quote from ammo:

1a, drop the chip on your shoulder,it's impeding your learning curve

I make my living from trading. I don't have a chip on my shoulder.

But predicting where trendlines will be ahead of time? Come on. That deserves some proof. That's bordering on Jack Hershey mythical claims (3x ATR or whatever it was).

If I could predict price I would be able to use much larger positions (50+ ES contracts at a time) going all in at once rather than starting small and reacting accordingly by averaging in, down, and hedging, all of which tie up capital and time.

 

[eudaemon]

Nice chart Xpurt.