A simple price action approach

[EON Kid]

Quote from 1a2b3cppp:

I hear Anek and his crew can call tops and bottoms :eek:

Are we discussing hershey's or Anek's ? Do us all a favor and stick to the topic

 

[JoshDance]

Quote from IronFist:

The method I listed is the opposite of discretionary.

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 perspectives. You could back test and provide the best input which would curve fit your results, and use that going forward, which would then be rendered useless after the market changes, but it could be done.

 

[jack hershey]

Quote from JoshDance:

How do you programatically define HH and HL?

Answer attached.

notice there are instructions for four aspects of Beginner PA trading:

1. Wait

2. Enter

3. Hold

4. and Exit.

You compare the present bar to the prior bar at all times.

 

[oraclewizard77]

Note the indicator I use with non standard settings is called NiinjaPriceAction.

Quote from JoshDance:

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 perspectives. You could back test and provide the best input which would curve fit your results, and use that going forward, which would then be rendered useless after the market changes, but it could be done.

 

[athlonmank8]

Here are my L-T E/U gameplans for the last few days. 1hr and 4hr chart levels and patterns outlined. Helps me keep my bearings for the smaller TF signals (1 min and 5 min).

 

[athlonmank8]

Here's the 4hr chart pattern gameplan

 

[athlonmank8]

Comments are appreciated as always

This one's for Monday. Still expecting lower but my 1hr PA is showing up with some support below. So we may need a bump and then roll over.

 

[noaveragingdown]

Channel pivot prediction is so 19th century.

Try Inverse| head and shoulder, channel shoulder prediction, much more smooth and exact.

NAD

Credit to THE Madman

 

[ammo]

not bad,what do you do when we don't have a hns pattern,or do you find em by changing timeframes,and i notice a lot of larger ones don't play out,like 50 % or more

 

[noaveragingdown]

Quote from ammo:

not bad,what do you do when we don't have a hns pattern,or do you find em by changing timeframes,and i notice a lot of larger ones don't play out,like 50 % or more

Well, it's certainly not the only setup I trade, just posted it here to get the discussion into the next level but if you look deep into price you will notice price lives and breathes through heads and shoulders as it's predominantly diagonal and not horizontal.

It's much harder to predict direction longer term. Nevertheless it's reward tends to be larger than the risk, and in many cases much large and that will keep your capital safe over the course of your trading.

The failure of the parallel line may suggest a potential change of trend and the easiest way to determine this is when such line begins to act as support in downtrends and resistance in uptrends.

NAD