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I use 3 Range chart for entry and have a question have a quest about "choosing trend" . I have tried to use these following 4 methods to see the trend, but I am confused to see which one is good/preferred to filter trends
Indicators, ADXVMA, MACDBB, CMIsessionpivot
symbols : CL, 6E
1) use 8 range chart with same settings to filter trend
2) Use 200/50 EMA in same 3 range chart and enter on retrace from 50 EMA towards the trend
3) use 89EMA in same 3 range and enter on retrace towards trend
4) "TriggerLines" indicator, on 3 range chart
Obviously they all give me trend at diff times, so am confused to which one to depend on . Any help is appreciated
Can you help answer these questions from other members on NexusFi?
first why are you using 3 range? its alittle fast i prefer 6 range i suppose its because of matt's system but still i prefer 6 range,does anything here help out if so let me know what and ill explain it to you...sharky
well its only preferred to me,if your comfortable with 3 range theres nothing wrong with it i just am more comfortable with 6 range,as your not looking for the earliest entry but the safest,now remember this is just my thinking so dont take any of this to be the end all say all please,you never want to get into the habbit of trying to get in at the top of a trend change,for one its almost impossible and anyone who says they do it is probally a liar,wait for a trend to form wait for a pullback then enter or wait for a trend and find your entry with a dc or swing, anything that lets you see good pullbacks in price you can even use a bounce off a ma whatever works.dont try to call tops and bottems its a loseing battle,find a trend and enter,now lets look at a chart and ill show you what i mean...sharky
Sharky - Thks for the details and totally understand. I do wait for pullback but smaller chart, like 3Range and didnt mean to look for top/bottom reversals.
yes, I would like indis settings but a template would save our time.
I do have a quest, trigger line didn't change to Down trend around 20.40 in your chart, when others didnt.
yes at 21.54, do see clear trend change.
also if you can write notes on a choppy day, say CL for example around open today 9-11am EST, 3 or 4 Range, would help me how to avoid false signals
here is a choppy chart if trading range charts and you see alot of wicks or if trading time or tick charts and you start seeing wicks or long candles then i try to avoid trading remember you dont have to trade everyday...sharky