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I know this topic has been touched on within various threads but I thought I'd give it it's own spot. Was just curious what people use to identify range bound chop markets?
I've grown accustomed to using TICK, delta and s/r levels on the ES but am real curious what indicators out there people have had success with that could be applied to instruments such as the 6E.
Blz
Can you help answer these questions from other members on NexusFi?
It's interesting, isn't it, how two different people can have different views.
I completely understand exactly where Blz17 is coming from. For a long time, I couldn't see chop.
And I also completely understand where sam028 is coming from. Now, I can see chop so easily, I don't need an indicator to tell me anything.
We have both types of traders here on nexusfi.com (formerly BMT), so absolutely this is a worthwhile discussion to have and you should continue.
One of the most frequently used descriptions for chop is "Chop is when the Bollinger Bands are inside the Keltner Channel". A lot of squeeze indicators use this as a basis of their logic.
Hi Blz,
for the 6E, or maybe basicly for the currencies, i think it is not that easy like in ES or FESX to identify chop in small timeframes.
i think for 6E you have to search the chop in 15/30/60 min charts or so, and then its heavy with having good stops if you trade futures instead of forex - you need a big account.
i started several trys to work with 6E the last years - always throw the stuff in the corner - cause its the indicees+ the small timeframes that i really understand and not the currencies.
That is a nice shot. I second Max's question. Could you also post screen shot of the setting used for that appearance on the ECO2. Thanks. Good trading.