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the signal by the rules was valid, the market is just not showing any momentum today that will produce follow through on the trades. See my "Stay patient " post
Charles
Can you help answer these questions from other members on NexusFi?
I thought the only rule for the 377 chart was that it could not make a lower low before a trade sets up (rule #6) which in this case, it does not. It makes a LH followed by a HL, there is no LL, that is why I considered it a valid setup.
In this chart you posted as an example of a valid entry, you took an entry when price was coming from a triple top, no HH had been made and it was coming from a LL with divergence.
As for the trigger lines being to wide apart, what do you consider to be too wide? 3 or more ticks between them? Establishing a parameter for too wide would help us as otherwise what might seem wide to you, might not seem wide to me or to others.
On the second example I posted, the chart made a LL in the retrace, but made a HL on the candle preceding the entry. So at the time of the entry, the chart would have shown a HL. From a price action standpoint, during a retrace, price will most likely make LL as it is retracing unless during the retracement there are no small swings but one consistent downmove.
In a recent survey about webinars, a lot of members expressed interest in learning more about the elusive "price action" that many traders talk about and refer to.
It is my intent with this thread to try and document price action from my point …
Which is over 100 pages and 1,000 posts, is one of the best threads they've read on nexusfi.com (formerly BMT) - and it is devoted to understanding price action. No indicators, just price. Most posts contain marked up charts, there are also several videos.
We are once again stuck in a very tight morning range. We can not break these highs or lows and until we do its not going anywhere fast.
All we can do is be patient and wait
Charles
For those who stuck around through the messy day yesterday there was a good short at 2:10 CST in the afternoon - curious to see let me know if anyone caught that