Quote from mephistoII:
So, the rules have been mentioned several times in the last few pages, and I need to better understand what they actually state. I find these type of discussions quite laborious, so apologies up front. Also, I'm hoping 'anyone' with a good basic grasp of these concepts will lend a hand, as I really don't care to burden Prof with stuff he has probably answered numerous times elsewhere. I will just start at the top, and go line by line w/ questions. For discussion's sake, consider 'current' price action to be in an UPTREND.
(In trading decision chart): for intraday trading, I take this to mean the 2401?
1. Prime Trading PPF trade through to Prime Trading Breach. : is this saying that price has made first a HH, pulls back, then a LH, pulls back again and finally another push to a Breach (which will be a HH 1-7 ticks beyond the first mentioned HH) ?
2. Verify Histogram is in Prime but not yet oscillating. : so Histogram value is equal or greater than 10, but slope is still positive and it has yet to break over ?
(In Strength Chart): the 16807 chart ?
3. Confirm Histogram is in Same Direction on Strength Chart, next slowest chart. (This is for see the overall strength): histogram slope is up - does it matter in what relation to the zero line (above/below) ?
(In Entry Chart): 343 chart ?
4. ERG Oscillation in Prime.: erg line is 10 or above - has the slope of the line switched from pos to neg, and have we seen a color change yet ?
5. Look for PF Bar or Bars: OK
6. Look for Confirmed Price Failure Bar.: what constitutes this CPFB ?
7. Enter at the open of the Execution Bar (this is the bar immediately following the Confirmation Bar). : OK
To be continued - and as usual, thanks ...
Ask individuals questions and go slowly so you won't overload. Please be patient too because I trade during the day and try to trade and answer these questions as well.