Weekly Parameters & Test Trades

[ChowClown]

...interesting use of the 5min to help id p3...i've tended to stick with the same TF and in this example would have entered at 9259, sacrificing 11 pips from your 5 min entry.

I find using fibs helpful for exits, your example sold off nicely to the 61.8% eventually.

 

[Goober]

Chow

61.8% fib was also confirmed by SS divergence. I think we might be onto a good thing here. The biggest challenge, in my opinion, is to identify P3 a.s.a.p.

Goober

...interesting use of the 5min to help id p3...i've tended to stick with the same TF and in this example would have entered at 9259, sacrificing 11 pips from your 5 min entry.

I find using fibs helpful for exits, your example sold off nicely to the 61.8% eventually.

 

[ChowClown]

Goober

Some useful discussion here around P3, if you haven't already had a look:

http://www.trade2win.com/boards/showthread.php?t=13451&page=30&pp=10

 

[Goober]

Thanks Chow.

I hadn't read this thread before. Interestingly, I attended one of JR's seminars in South Africa many years ago and still have some of his books, my favourite being Optures and Futions - really deep stuff.

Goober.

Goober

Some useful discussion here around P3, if you haven't already had a look:

http://www.trade2win.com/boards/showthread.php?t=13451&page=30&pp=10

 

[Goober]

Chow

Having read Frugi's post, it all comes back to me. However, I would just say that JR's TTE entry would have missed cj12's 123 entry on my previously posted charts.

Goober.

Goober

Some useful discussion here around P3, if you haven't already had a look:

http://www.trade2win.com/boards/showthread.php?t=13451&page=30&pp=10

 

[ChowClown]

Hi Goober,

I was looking at Cable this morning on the daily chart, some Elliott devotees are stalking a top this week and a 123 (short) appears to be taking shape and using CJ's initial calcs:

P1: 9548
P2: 8505
P3: 9323
Entry: 9010
SLoss: 9329 (breakout long of 9323 incs spread)
Critical Point: 8794
Target: 8275

...now stopped in short from 9010, from yesterday - what a day.

 

[ChowClown]

....'critical price' hit at 8794 this morning, some profit taken and stoplosses to breakeven on the remaining lots. The 8275 target looks a long way from here, but if recent PA is anything to go by, we could be there pdq.