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i like to get filled right at the open of the trigger bar or even sometimes before the close of the prior bar. To get filled half way into a printing bar I dont like, it increases the risk
Thanks for the kind comments I'm very glad to hear my method is helping you
Charles
Can you help answer these questions from other members on NexusFi?
Your ZZ must not have plotted that HH like mine did?
On my chart, I was looking at that, but my zz plotted a swing. At that point I put a horizontal line on my chart where point "D" should end up. It went a few tics beyond invalidating my ABCD.
Doesn't that push above that LH on your chart invalidate your setup? Once that happens, isn't the only option for a short the formation of a proper 'ABCD' Pattern?
Charles, no ABCD formed on my chart, Forrestang had a good point, on my chart, if no ABCD formed, are you going to trade this 1508 signal? since it was a HH, when I placed trade, I forgot it was a HH. thanks
I have a few general questions about the ABCD that forms on the 1508.
Do the lengths of the 2 pushes into the ABCD need to have the exact same length, or is there some wiggle room there? Mine differed by 4 tics. Also, is there anything to the SYMMETRY of the ABCD? The one I highlighted in the post, other than the difference in length of the pushes.... had perfect symmetry, particularly with both of the pushes having the same angle to it.
The other question, obviously on the 377, price was making HHs as it approached the pullback area, which is not what we want to see on the normal trades with direct pullbacks to the cloud.
Is this the exception for the 377 chart, that HHs are ok on the 377 for ABCD patterns? I would think YES, since price is making a small HH on the 1508, that it will inevitably make HHs on the 377 as well?
On the ABCD it is not the lenght of the ZigZag lines themselves - it is the price values
Calculate this way
1. take the low price of point A
2. take the high price of point B
3. subtract the 2 to get the price difference in the move from A to B
4. Point C cannot make a lower low
5. take the difference between point A and point B and divide it by 2
6. Add the result to the high of point B
7. No candle can close above that level, it can stop no more than 2 ticks from it but cant close above it