Learning to read Price Action with P&F Charting

Hi, I have contacted Archer Analysis Pty Ltd which makes bulls eye broker about seeing if they will include this pattern. They said it was a custom development and are getting me a quote on the cost.
Once I get this information if any of you wish to partner with me and split the cost, please let me know.

Also, if I sell my current business I would like to start a LLC to trade using some of these patterns if anyone is interested with the main goal of converting to a hedge fund.

Quote from HolyGrail:

OK now for something you will not read in any book. It is what I call the failed double top buy signal or the failed double bottom signal.

If you trade this signal only for the rest of your trading days I PROMISE YOU WILL BE PROFITABLE.

You have your great failed signals, and you have you SUPER GREAT failed signals.

Here is a SUPER GREAT failed double top.
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Quote from HolyGrail:

Today was a slow day at the office so I did trade. I was up all day, but watched one 4 point gain turn into break even waiting on my target, and unfortunately I had 3 contracts short on my last trade so I went from plus 415 to -475 on the last trade of the day.
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when volatility starts to rise and it aint even started you have to be quicker takng profits and losses because you will get caught on the wrong side of a few runners
 
Quote from ammo:

when volatility starts to rise and it aint even started you have to be quicker takng profits and losses because you will get caught on the wrong side of a few runners
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Just curious, how do you take losses quicker in high volatility? I normally have to widen my stops to stay in the trade.
 
Here is where I think I went wrong yesterday.

Yesterday NQ was down all day.

ES was up most of the day.

I should have known there would be no large sustained moves in ES without major help from NQ. I should have set my targets lower or only trade when they were in sync.
 
So far there have been two horizontal long targets(out of 3) on the 1.0 ES chart that have been hit. Next target if trend continues is 1375.
 
Well I am done for the day. Didn't have many trades today, but I traded both NQ and ES. I had a 5 point gain on NQ that I let get to break even. (I set it up for an 8 point target, and left a helluva long 18 tic trailing stop). I also took a trade on the button trader simulator that I wanted to take in real time but didn't. Of course it was a good trade, lol.

Anyway, it was an OK day, nothing great.
 

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Questions for Flyinglead.

Are you saying that no matter what, after one week you will terminate all positions? If not do you have targets on all positions?
 
I'm still working on that. I plan on terminating anything that isn't moving in the right direction. But still testing to see what is the best method.
I don't have a good handle on targets yet

I may have to switch to a two box reversal to do it this way.

Ironically, most of my longs went south today and most of my shorts rose.:confused:
 
The only concern I have about the potential of the system is that it will be quite possible to hang on to your losers and sell your winners, and if you sell all after one week it would seem like you will not have enough time to make any money.
 
That is true. And why I am only experimenting now.
I'm not sure why you couldn't consider weekly trading just an extension of daytrading. You exit all your trades at the end of the day don't you? Obviously, I will check the stocks each night in case I need to liquidate any that have reached my target, and will probably put stops on all of them.
One of my mistakes is that I bought too many that were on a pullback. To do it this way, I may have to only choose ones that are at the top of their breakout box (or bottom for shorts) plus I may have to choose ones that show plenty of short term movement.
that is one of the reason I prefer stockcharts over bullseye. You can tell instantly when you open a chart where the stock is currently trading in the last column. I can't seem to do that with Bullseye. Although checking the rs is a little more cumbersom for checking the ones I do like.
 
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