looks long here now, but not sure i'm touching this here yet
The turning point back in the direction of the trend, typically a high bar taken out to the downside in the entry zone for a short and vice versa. Yes as to patience waiting for setup and I trade manually. The grey line on my chart is the 90 wma so yes multiple. Understand that in any manual system there is an element of discretion. I know other way to develop this than experience and observance.Thank you very much for your kind help!
"speedo, post: 5032303, member: 16863"]My trades are simply a variation of the trend pullback. It's called the 930 after my late friend Mike Bruns who named it. The 9 refers to a 9ema and the 30 is a wma. For a short, thee must be a close or at least half bar above the 9 without the ma's crossing.
==== in your chart, there is EMA(9), and EMA(21), and WMA(90). No WMA(30).
Does it means that you also are flexible for this WMA(30), as long as it is a multiple of 30.
If they do cross, I first look to see if it is setting up on the higher tf (I use 1500, 4500 and 13,500 tick charts for the ES but will adjust from time to time). If BOTH the MA's cross on the 15 and 45 AND the 13.5 sto is headed up, I look for a setup in the other direction.
===== means in general to wait patiently for it to happen, right?
Most entries are on the 15 and there are filters such as price must come in contact with 9 ema on the next higher tf and if I get a divergence on the next higher tf, I wait for the second entry. However in a really strong trend, I ignore divergences.
==== Are you watching the chart or you have the script to monitor the chart for you ( When it happens, it will alert you. ) ?
Sideways PA as evidenced by overlapping bars and intertwining MA's require waiting for price to start moving again. Stop goes over/under entry pivot and either taegets based on average MFE or a trailing stop be used....or measured move targets etc
==== What do you mean by entry pivot?
Thank you again.
40+ points so far. Should've touched it! lollooks long here now, but not sure i'm touching this here yet
Thank you. But how do you define this pivot point low? like the following?
Simply the takeout of the high bar low for shorts and vice versa.Thank you. But how do you define this pivot point low? like the following?
EntryPivot point: set Bar0 = entrybar in the below.
suppose use numNeighbors = 5 find the pivot point of bar0; let Bar1_ denote the Bar right before the Bar0, Bar2_ = the bar 2_ bars before the Bar0. Bar1 denote the bar right after the Bar0,
find H5: high of 11 bars ( Bar5_, ...., Bar1_, Bar0, Bar1, ....., Bar 5) ; find L5 similarly.
Bar0 Pivot Point (PP) = (H5 + L5 + Bar0's Close)/3
Get it gramps before DEMTDAYBOYZ do
I think the bottom is in for the time being. I doubt we'll go back up to ATH, but likely will whipsaw back and forth between 2800-3100 from here until the next earnings season.