The Price Action Journal

[SusanaDT]

Depends on the 3bar formation.

For instance, if there's an inside bar inside the 3bar, I skip that bar an eliminate it from analysis.

You must do PA inside the PA to play them right.

Susana

 

[Lucrum]

Quote from SusanaDT:

Depends on the 3bar formation.

For instance, if there's an inside bar inside the 3bar, I skip that bar an eliminate it from analysis.

You must do PA inside the PA to play them right.

Susana

in the past I always started counting on the first bar that did not make a new high/low. I was just curios how others were looking at it.

 

[Lucrum]

http://charts.dacharts.com/2008-07-28/2008-07-28 13-40 ES #F V23000.png

Here are the levels I'm watching at the moment

 

[amitman]

Done for the day pretty early today, very good day.

 

[turbowagon]

Quote from SusanaDT:

You are welcome Ian.

Here is another PA setup you can use along with the 3BRs called "Matching Lows" and "Matching Highs".

Susana

Hi Susana,
In this post you show on "no call". Is this non-confirmation because the low of the longest bar within the Matching High pattern was not taken out? Thanks. Great thread. I plan to post charts soon.

Cheers!

 

[BoyBrutus]

Quote from Lucrum:

Quick question for the guys using a "3 bar reversal" how are you counting the bars?
IOW which bar is bar one?

TIA

Here is a chart that Stealth trader posted on the AHG thread, you may find it useful.

 

[Jayford]

Quote from Lucrum:

http://charts.dacharts.com/2008-07-28/2008-07-28 13-40 ES #F V23000.png

Here are the levels I'm watching at the moment

your ES chart looks very similar to mine when I bother to run the price histogram. I also use Ensign, but have the 25000 bars or 60 min bars (along with 5 min and 1 min). for some reason, the volume bars often don't record the correct highs and lows?

 

[Lucrum]

Quote from Jayford:

your ES chart looks very similar to mine ...

You know what they say, great minds think a like.

 

[amitman]

Quote from BoyBrutus:

Here is a chart that Stealth trader posted on the AHG thread, you may find it useful.

Great post! one question though and I'd be happy if you or stealth can answer. Let's say we have a trade signal and put an order is the middle of the 3rd bar but price don't go back to that point
what do we do? do we cancel the trade, do we try to get at a less better point?

 

[SusanaDT]

Quote from amitman:

Great post! one question though and I'd be happy if you or stealth can answer. Let's say we have a trade signal and put an order is the middle of the 3rd bar but price don't go back to that point
what do we do? do we cancel the trade, do we try to get at a less better point?

Personally, I let it go, you can see the "No Fills" annotations I do.

If I missed it, there is no way I will chase it, because this causes increased risk.

Not sure how the great ST does it, maybe one day the phantom of the opera pops in.

Susana