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I tried to learn your method and found this old post of yours which I really want to test next week but I'm not so clear about 2 things so please help.
I read the whole thread of over 110 pages and tried to familiarize myself with your system (the older one,,,not the one that's featured in the recent webinar)
In the attached picture of yours I'm not clear about the 2nd and 3rd setup bars. You posted this picture to show "continuation trade" examples in page #50. I understand the 1st setup because EMA 5 went up 2 bars AFTER EMA 5 went DOWN or FLAT.
Your rule # 2 states that EMA5 must have gone up at least 2 bars. Please help me understand when I have to begin counting for 2 bars gone up. I thought it was after EMA5 gone down or flat because you said somewhere in the thread that I have to look at EMA 5 iteself but 2nd and 3rd setup bars in your picture there was no "bent" in EMA5.
So the question is EMA(5) must have gone up at least 2 bars since when or what point?
Another question is about method 2.
Your rule #2 for method 2 states that "The EMA(5) - the black line - must have gone UP at least 2 Bars or more."
(For a short trade setup) The EMA 5 went up 5 bars but it's mixed bars (up and down bars like first 7 bars in the left most part of the picture). It's still a legit setup or they have to be all up bars?
Also the 6th bar from the right most in the picture is the right setup bar to go long for method 2 trade?
I'm sorry to dig up an old post but I really want to try to learn this system too.
Thank you.
Can you help answer these questions from other members on NexusFi?
I fully understand, and that is the reason I did the webinar and added the MDA and expecially the PPma, in order to answer the same questions that you ask and so many others have asked over the past year and half. There is no point in go backwards as the introduction of the PPma answer all your questions. YOur same questions have also been answered so many times in the thread, so I am now reluctant to start all over again.
Like I said,,,I read the the whole thread and wondered that NO ONE asked the question "when to begin counting 2 bars" for method 1. Maybe I'm missing something very obvious or too dumb....
I also understand your reason and I thought about sending you PM instead of posting here for the same reason.
See attached chart of ES yesterday. I hope the explanations are clear.
The SETUP Bars have all the conditions. The ENTRY Bar is the 5th Bar High/Low from the Setup Bar (setup bar included in the count). Sometime the Setup bar is the Entry …
that explains that the setup bar is part of the count of the 5 bars. I am sure you will find all your answers in the threads.
Would anybody wish to critique my attempt to identify setups using Perry's Method 1 setup on the TF 1 minute chart this morning? Thanks in advance. I have attached a snapshot of the chart.