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Day Trading with TTT and other tools


Welcome to this new thread, where we can share trading ideas and our thoughts on the Taylor Trading Technique.

Anyone with questions on TTT, this is the place.
Lately SS days are working out a whole lot better,

Classic BV long (not taylor though) , market hit projected high of 1034
quote:
Originally posted by rigel

Lately SS days are working out a whole lot better,

Classic BV long (not taylor though) , market hit projected high of 1034



I must say that I had 1034.5 as a goal but only as a Penetration goal since 1050 area id the 3 day rally goal.
I recieved a very good question by email today and thought I should share it with you all.

Hi Rich

Trying to get to grips with Taylor once again - your ebook has been enlightening.

I still struggle with an area I had trouble with on previous attempts at TTT - determining an uptrend from a downtrend (bull and bear) and what to expect on the different days when bears are in control.

I get the impression from your email commentaries that you may understand this - if there was any chance you could write a short document outlining your approach or point me to a part in Taylor's book where he might discuss it (I could never figure out how he determined the Uptrending areas and Downtrending areas in his "book" despite reading a few times).

Any enlightenment would be appreciated
Thanks.


Hi

Thank you for your comments on the E-book.

The way I see things, TTT has a standard basic pattern. Buy day we get a decline, Sell day a rally, and SS day continue rally and start the decline.

That is the perfect world. I also find that Taylor's comments were based on a more bullish than bearish market.

However it does work in both direction as evidence by my finding of the Positive 3 day rally even in extreme bear markets.

Now how do I figure out if we are in Bull or Bear trend. There is a few telltale signs that may help.

Bullish trend: Lite or no Declines on Buy day.
More occurrence of Penetrations vs Violations.
Above average Rallies
Above average 3 day rallies
Nothing to do with Taylor but more and larger gap up

Bear trends: Lite or no rallies on Sell days
Failed 3 day rally ( Big red flag)
Below average Rallies and 3 day rallies
Above average Declines
More occurrence of Violations vs Penetrations.
Nothing to do with Taylor but more and larger gap down

This is the things I use in making my comments. Also Sell days are often confusing in nature and by that I mean up and down days. As they try to confuse us as to direction.

Also, although I don’t consider myself an Elliot Wave expert, I do try to keep an eye on the wave count and that helps me with the big picture. I have found that EW and TTT does have a tendency to work well together both on the short and not so short term.

I hope that helps.

Hi Rich,

Thanks for that info. It's a simple and straight forward approach using Taylor to define it.

And no need for those lagging moving averages


Thanks again,

Rich,
During one of your Saturday Webinars you had mentioned that MTPredicator's Desision Point correlates with certain Fibonacci levels. I have lost my notes on what those levels are.
Could you please provide those again?
thanks
Al
quote:
Originally posted by garciaal

Rich,
During one of your Saturday Webinars you had mentioned that MTPredicator's Desision Point correlates with certain Fibonacci levels. I have lost my notes on what those levels are.
Could you please provide those again?
thanks
Al



It is between the fib retracement of 112.5% and 127.5%
Thanks for the info

Al
Monday 12th Oct, Sell day, premarket hit the projected rally level of 1075
Another great SS day , looks like resistance is building up over 1075 and we could get many of such SS days for a few weeks.
quote:
Originally posted by rigel

Another great SS day , looks like resistance is building up over 1075 and we could get many of such SS days for a few weeks.



yes we are getting due for a major change in trend.
I hope all you TTT traders had a good 2014 and I wish you all a better 2015
Richard