AHG - Profitable Strategy for Struggling Traders

[Chase14]

Quote from Rn86:

all right, here we go... after reading FAQ.txt that got me scary even after a few drinks I put together AHG illustration for short setup. As always, feel free to add notes and criticize as much as possible.

On the first setup drawing(2lhs, 2lls), I did not think the price had to retrace past the previous LL. I thought any pullback with a 123 reversal was sufficient.

Am I wrong about that?

PS - I usually post under "edpolton" but I replaced my computer and I had to start a new account because of a password problem

 

[Anekdoten]

Rn,

Please look.

Thanks

Anek

 

[Anekdoten]

The closing above previous bar high or closing below previous bar low is a universal rule for me in most setups.

Same with Resistance, Support and Trendlines, wicks don't do it for me, I need to see substance, in other words a close.

Now, on top of that, if it's a longbar, that would shy me away a bit.

For instance, today I had a long position that was approaching resistance. Right on resistance I bought a couple of contracts at MARKET, making it BREAK resistance, but that was just me playing games with two contracts to push my previous size which was considerable. You want to avoid traders like me by waiting for a close as confirmation.

Anek

 

[Rn86]

Quote from Chase14:

On the first setup drawing(2lhs, 2lls), I did not think the price had to retrace past the previous LL. I thought any pullback with a 123 reversal was sufficient.

Am I wrong about that?

well, for me it is sufficient to touch or just make a new lower high.. but its a variation Im trying to show as genuine AHG, lets wait for the creator to answer

 

[Cxinvest]

Just depends how aggressive you are. I like the closes better for confirmation. Perhaps when more signals//indicators come together all at once in your favor you can take an earlier entry. Like I said, the earlier shot will reduce risk (stop) a bit, but confirmation is unrivaled.

~Cx

 

[Anekdoten]

It is not required, Rn's example is just optimal.

The bar failure is the important piece of data.

Anek

 

[Rn86]

Quote from Anekdoten:
Rn,
Please look.
Thanks
Anek

fixed downtrend, thanks, the DT in Downtrend is a mirror for the DB in Uptrend, so what do I need to do - delete the whole setup or redraw to make lows equal?

DB in Uptrend in an attached file

 

[Anekdoten]

Rn,

Yes, the safest bet would be a higher high middle swing when playing a double bottom in an uptrend that had quite the run.

Anek

 

[Anekdoten]

Quote from Cxinvest:

Just depends how aggressive you are. I like the closes better for confirmation. Perhaps when more signals//indicators come together all at once in your favor you can take an earlier entry. Like I said, the earlier shot will reduce risk (stop) a bit, but confirmation is unrivaled.

~Cx

One of the biggest differences between Piscuy and I is that he does not wait for confirmation in terms of a close, I do.

However, he looks for other types of confirmations.

Remember, you can also start small then fortify on the close.

Anek

 

[Chase14]

Quote from Anekdoten:

It is not required, Rn's example is just optimal.

The bar failure is the important piece of data.

Anek

Thanks, That is what I thought,I just wanted to be sure.

Thanks for the drawings RN