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Quote from yoohoo:

PS: What a beautiful close... is that a gift for Monday or what?

PPS: ...Remember one TF is just a fractal of another so just as you roll TF's you roll techniques. [/B]
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And the gift loads up the ATM. Triangle formed in 1 hr channel and if you didn't sell resistance on the 1 min at the top then the 5 + 15 Min signalled almost together rolling on to the 30 min. Note how the 1 hr bar closes below the EMTL channel mid - the 1st call to the lower channel.

70+pips... Fridays promised gift.
 

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Quote from yoohoo:

Taking the BO is so obvious you are going to get a good percentage of times it will come back and take out your stops before continuing to climb. It's the same for a pattern so I gave examples of trading within the pattern.

That chart's a daily S&P and when lots were posting crash warnings on ET I was saying Buy, Buy, Buy! This market loves negatives. But it's the same in the 1 minute timeframe... trade the signals and you'll have lots of profit when you meet the most popular trading zone. Then you're up against guys that can't take heat at the BO - guess who is going to win?
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YH, I get what you are saying..

Oh Yeah, BOs/congestion trades are very obvious, hance it is a very easy PA to learn. IMHO an entry can be control by a trader (his/her own entry) but the extent of a move is upto the market, not the trader, hance I developed the needs for looking entering before the popluar trading zone.

As I saw CF develops his skills in PA, first with BOs and congestion trades, and later moving on to the more aggressive entries; somehow I came down on the same path, it's still in the early stage, but I really hope I can get this right :) YH, when I was asking about 1-2-3 or BOs, it wasn't for mid trend entries as usual, but rather like "what do you do when you missed the top? and before a clear down trend develops? (maybe a T/L breaks or crossing of a MA)"
 
Quote from Willleung:

"...what do you do when you missed the top? and before a clear down trend develops? (maybe a T/L breaks or crossing of a MA)" [/B]
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If you have a bag of signals and you missed the top's 1st signal, there will either be another in that same TF, or the 1st signal in the next TF will fire off.

Like tic toc last post and ATM time. You should know it's coming and so when everything converges you strike. 20 mins later I'm up another 25 pips long for what... a gift.

But say I missed it... Big engulfing on the 5 min eating up the prior 4 candles and reacting on yesterdays PP lets me take 15 pips. But on the same 5 min chart I could enter 5 pips earlier on the break of the minor prior high.

Lots of signals on every TF but you need to have a sense of direction so you can have a TF Roll-Over expectation. That where you work in reverse - look for direction from the Day - 4 hr - 1 Hr - 30 min etc but enter and roll the other way round from the 1 min - 5 min - 15 min etc.
 
Morning guys!

I see very interesting discussion goes on... I'll now leave to take dad from a hospital and will guest at his home today, but will get online from there later ASAP...

Have fun and some nice trades so far instead of me. :D
 
Quote from yoohoo:

If you have a bag of signals and you missed the top's 1st signal, there will either be another in that same TF, or the 1st signal in the next TF will fire off.

Like tic toc last post and ATM time. You should know it's coming and so when everything converges you strike. 20 mins later I'm up another 25 pips long for what... a gift.

But say I missed it... Big engulfing on the 5 min eating up the prior 4 candles and reacting on yesterdays PP lets me take 15 pips. But on the same 5 min chart I could enter 5 pips earlier on the break of the minor prior high.

Lots of signals on every TF but you need to have a sense of direction so you can have a TF Roll-Over expectation. That where you work in reverse - look for direction from the Day - 4 hr - 1 Hr - 30 min etc but enter and roll the other way round from the 1 min - 5 min - 15 min etc.
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Thanks a lot for this, YH
 
Willl todays PA is a good eg. Let's look at the 5 min chart attached...

The dotted line 3rd reaction at point 1 is one I've posted before and talked about several times - it's a common way to reverse. We can pick this up in the 1 min, the prior mention of tic-toc was clock watching - expecting a reversal in time when dashed PP and 2 TL's converge. There was a bunch of signals on the smaller TF's.

Point 2 is over the minor high buy.

Point 3 is thru an aggressive TL... either close of bar to be sure or break of TL if more aggressive.

Point 4 is thru Red Classic TL. Now here's the problem - if you take this signal there is a good possibility that PA will return to the TL as it did at point 5.

So if you enter at point 4, as many traders do, where is your stop? At point 1 your stop was a few pips away but at point 4 most will look to the rising Hr TL to save their bacon.

Meanwhile PP's were screaming all over the place for aggressive traders to take the swings in the 1 min.

Hope you are able to follow. Basically on one chart there are many signals and you want to know when other traders enter. Playing the BO or after the BO is fraught with problems.
 

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thanks a lot YH..

Thanks for stressing the important of an early entry, knowing CF, he properly will long between pt1 and pt2 :D , just a guess :p

The chart also demo what I want to do with my entry too.. to move from pt3 (basic BO) to let's say pt2 (early 1-2-3 type in 1min TF etc) or 2B (as above).

YH, the dotted line is the emotion line (of pain)?? :D I haven't follow the journal from the early stage and I don't quite get that.


Agree on needing to have a sense of direction for our aggressive early entries, what about days start of going against the general trend, what do you do, YH?

failure of previous S&R zone?

Lower TF, top/bottom picking? (indictors as reference, or even volume A.K.A. JH's FTT :eek: )

The chart attached is just a random off Yahoo, not my market either, and doesn't have future contracts yet (SSEC of Shanghai) but after seeing it today, it raises a few questions..

Cheers, YH
 

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