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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.
quote:
Originally posted by rigel


Today make it as a Buy day, my expected decline was to approx 923 on Emini but prices formed a HB premarket, so that was forecasting a bullish bias



HB ?

HB refers to Higher bottom.
Look up chapter 3 in Taylor's Book:
Quote:
"The (BU) Column means, buy under, and shows the unit that the stock sold under the Short Sale Day Low, on a Buying Day, if there were no declines we put in a Zero. The (BU) Zero, points out the Higher Buying Day Bottoms and are all higher support levels, on the declines, from Short Sale Day rallies."

More info also in Chapter 5.

Sell day today , Prices came off yesterdays high of 948 in the final hr. almost a flat buy day, On globex prices have risen from 940 to 946, could be a choppy zig zag day.
Ftse dropped like a stone 100pts right from the open, causing a Buy Violation
My mistake on the premarket action on ESmini, that was yesterday.
quote:
Originally posted by rigel

Ftse dropped like a stone 100pts right from the open, causing a Buy Violation



Know that positive 3 day rally odds suggest high probability of buy Day low being reached on SS day, but what about on Sell day? Is there a high probability that FTSE will climb back to BD low before end of trading today?
Depends on US markets, Emini is below Buy day low premarket, will have to wait and see.
Normally only longs are allowed and that also after BV on a Sell day, though I believe Rich does advocate a short when there is opportunity as this morning.
quote:
Originally posted by Robros

quote:
Originally posted by rigel

Ftse dropped like a stone 100pts right from the open, causing a Buy Violation



Know that positive 3 day rally odds suggest high probability of buy Day low being reached on SS day, but what about on Sell day? Is there a high probability that FTSE will climb back to BD low before end of trading today?



I only have odds for the case on a Sell day if we open below the Buy day low, not if we open above and go lower like FTSE did today.

then we have to look at the Positive 3 day rally and that means that by tomorrrow we should go back up.
quote:
Originally posted by rigel

Depends on US markets, Emini is below Buy day low premarket, will have to wait and see.
Normally only longs are allowed and that also after BV on a Sell day, though I believe Rich does advocate a short when there is opportunity as this morning.



The reason for short is that FTSE tested the Buy day high and failled to go higher so that price action would justify a short.

However finding an entry point in this case would have been hard as the drop never took a breather.

Now the ES is different as we opened below the BdLow and so far missed to get back above by 1 tick. So normally I would say that long is the way to go. However so far we have TVGR in effect and often TVGR is stronger than TTT and produces failed rallys.
Actually depending on the timeframe there was a nice pause on FTSE 3/5min, 30min after open below the daily pivot 4456 to short, especially with the bias of sell day.

Anyway after that initial drop, brakes have been applied on Ftse, however on Eurostoxx it has carried on down and is almost at my projected level of 2464, on Dax it is around 5018.
Rereading Taylor last night p47/48 he says about failures to penetrate on sell days …decline starts from this failure and the stock makes a violation of the Buying day Last. … The violation (of a BUY DAY low) is, in itself, generally a three day or more decline..


Well we hit the Buy day low this morning on the FTSE, and given Taylor’s negative bias it looked to me like a clear opportunity to short. Only time will tell.

I hope all you TTT traders had a good 2014 and I wish you all a better 2015
Richard