AHG - Profitable Strategy for Struggling Traders

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The pattern you just described is normally referred to as a 1-2-3 Bottom. Also works as a 1-2-3 Top.

It was the first pattern I ever traded (thanks KR lol). Then of course I went and tried to muck everything up with indicators.

I say add it. Just don't enter with guns blazing because it isn't a trend yet.

Piscuy-

I'll add some examples later....gotta go to the gym :D
 
Quote from Anekdoten:

Possible AHG Addendum

Bullish Scenario

Up swing (1HH, 1HL, required)

Confirmation bar closing above previous bar high (bright green paintbar) after the retracement while the most recent HL remains intact.

Preferably not higher than half the distance between the last HL and the last HH.

Target based on price action and next resistance or the very beginning of a conservative averaging up play for the possible upcoming uptrend. Ideally target must surpass the risk over the long run, unless price action says otherwise.

Stop below most recent HL.

Open for discussion, needs further examination.

A wise/experienced trader I know claims the best possible entries are found at the birth of new trends with the very first confirmation. Easier said than done, this could be a possibility.

Anek

Note: An uptrend requires 2HHs and 2HLs, this play anticipates it with minimal risk.
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As a top and bottom picker at times, this is where I will often take an entry and then use the HH for confirmation if it breaks then it is most likely a good entry. Stop is placed below the HL.

Chris
 
Quote from Bogwaluth:

The pattern you just described is normally referred to as a 1-2-3 Bottom. Also works as a 1-2-3 Top.
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Actually it must go above the HH (in the case of this pic) to be a real 123 bottom.

I too am thankful to KR!

Chris
 
Hi guy
when i trade i pay attention to the HH HL too but for an entry but I keep an eye on the big picture, it keep me out the trouble, example on 17-09 around 11 formed a 2T on down trend but I saw on two days chart it was near the low of the previous day..so to me is it a no no entry
:)
 

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I realize this is a basic question, but I'll ask it anyway. In your definition of a HH/HL(or LH/LL) trend, how many bars should pass between peak and trough? Originally reading this thread, I thought you were talking about consectutive bars. In looking at most of the charts posted here, it seems you are looking for a trend over a greater number. Not all charts reflect this, as it appears some are attempting to trade based on a 2 or 3 bar trend.
Any clarification would be appreciated.
 
Quote from walter1986:

I realize this is a basic question, but I'll ask it anyway. In your definition of a HH/HL(or LH/LL) trend, how many bars should pass between peak and trough? Originally reading this thread, I thought you were talking about consectutive bars. In looking at most of the charts posted here, it seems you are looking for a trend over a greater number. Not all charts reflect this, as it appears some are attempting to trade based on a 2 or 3 bar trend.
Any clarification would be appreciated.
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I only count a break when a bar closes above or below the area in question.

Needless to say this is highly dependent on the chart type/size.


Anek
 
Same type of spill from a few days ago. Just wondering how you would have played it Anek or if you would have. Perhaps a TL break? I could understand a clearcut signal of the continued short closing under that last major pivot.

~Cx
 

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Quote from Anekdoten:

I only count a break when a bar closes above or below the area in question.

Needless to say this is highly dependent on the chart type/size.


Anek
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For example, in an uptrend, bar #2 closing above the high of the previous bar? Or the close?
 
Quote from walter1986:

For example, in an uptrend, bar #2 closing above the high of the previous bar? Or the close?
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Think you are confusing previous bar comparison to support and resistance areas.

Let me know if this clears it, if not I will post a detailed explanation.

Anek
 
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