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On the 1508 chart, at point #1, what rule are you referring to in the manual? Since we are not making a HH, I would not think there would be an entry there.
Can you help answer these questions from other members on NexusFi?
Before reloading my charts accidently I knew there was a ZjgZag swing on my 1508 chart at around 10:24 which meant that a close above 1.4425 the Zig ZAg would be making highs.
If you have not changed anything on your chart causing the chart to reload check your 1508 chart and see if that swing is indeed there.
I had made a note of that swing on paper because it was there before the chart reloaded, but once it reloads you can't get it back Ninja & tick charts
we are seeing very slow choppy price action this morning ahead of the NFP release at 7:30 cst. this is very normal as traders dont want to commit ahead of that #
trading my method as you know by now requires patience & discipline to wait for the proper setup.
When this news release comes out I have seen in previous months over 100 candles print on the 377 in less than 3 minutes. I personally cant make sound trade judgements when the market is moving that fast - so I will be very cautious ,let the market slow down and choose its direction
I at the time thought I was seeing a hidden divergence on this swing as price on the 1508 pulled back to the MA at 7:59 cst.
See how I have the hidden divergence marked on the Stochastics - what I did not see was that last up candle made a higher high see black horizontal line and the candle with the 3 red arrows.
So since price made a higher high the stochastic higher high was not a divergence
this was an expensive lesson for me but it goes to show the importance of staying focused and not get tunnell vision. You/I need to see the entire picture and unfortunaley when the market teaches you/I a lesson it cost a tuition fee
So OK I lost 9 ticks, I 1st ask myself what did I miss, I see the mistake and write down on my journal so not to make that mistake again hopefully.
This trade is now over forget it and wait for the next one
this is my 2nd trade today which was when paying attention is the classic look that I want
See the 1508 chart price pulls back to the MA after a higher high
Now see the 377 chart which I have marked with text instead of the # system I have been using to hopefully make my trades in the future easier to understand as you open the picture
See where I got in (text & green arrows) see the hammer bar in front of the entry bar sitting right on the Keltner Channel, this is where the 1508 candles were sitting on the MA.
You may also notice the move is originating initially off the 55 EMA but I want to be careful not to enter too early
As the entry bar explodes through the trigger lines I jump the entry on the candle, as you get more experienced trading this system you will gain the confidence as to know when to do that as waiting for the candle to close may have been too much risk.
had you waited for the close the move still made 21+ ticks
Notice looking at the text when and where I manually trailed my stop until the trade hit target at 1.4553
Charles
While I was creating this post and being done trading for the week there was another long trade at 9:23 cst on the 377 with the 1508 confirming the pullback - test yourself and see if you see it - if not reply to this post and ask me for clarification
I want to say thank you for showing interest in my trading method. When I started this thread a couple of weeks ago I never imagined that it would draw the amount of interest that it has.
My main purpose of this thread was I'm sure some if not a lot of you are tired of losing money and are looking for a system that works most of the time. My goal is continuig this thread and if I can show you or teach you something that reverses your trading fortune then what I am doing is worth every minute of my time.
If what I am showing helps just 1 trader it is worth it
As I sign off for the day/week if you have any suggestion or would like to see/hear more explanation concerning my method by all means reply to this post and next week I will try to address your wants
Charles your trading method has been very helpful and the way you explain the set ups makes it exceptional. Can you please explain about 1508 retracement. For example long set up today at 9:23 cst. At 9:16 cst after candle closed ,it showed retracement to 13 ma and zig zag drew a down leg. Now do we wait for next candle to be completed and close higher or do we wait for zig zag to draw an up leg before we go to 377. Thanks