Crabel Price Patterns

Hello

I use this great site since some weeks, really great!

But I have a question about "Crabel Price Patterns" like for example today in the nasdaq mini there are 6 fields "TRUE". How do you use these patterns for your trading???

Sincerely

Kill

Is there really now body who wants to help me?????

Kill: Have you read Toby Crabel's book Day Trading With Short Term Price Patterns?

Not yet...

Saw an offer for more then 500$... Is it really worth it?

Best regards

Kill

It's very pricey. You ask a very difficult question that requires foresight into the future. If the book takes you down the road to fantastic profits then yes it is probably worthy it. However, we don't know where the book will lead.

Why don't you start off with your own study of a Crabel number such as NR7 and look back at the market that you're trading and see if anything common happens on all days after an NR7 day. Doing your own discovery will probably benefit you more than reading about it.

A 100% agree with you, already begann to do it and I now integrate it in my trading strategie.

Regards

Kill

What have you discovered about NR7 in the market that you trade kill?

Sorry for answering as late... My girlfried had an accident, was in hospital with her. But now all is o.k. again, she really had an incredible luck... :-) I so happy... (sorry for writing here, hope you understand... :-)

First: I look on charts only when I trade nq, when I am trading shares I normally not even use charts or sometimes only for the entry.

In nq but also in other markets I discovered or noted that NR7 has a really great "hit rate"???! Not only on daily base, also for intraday charts like for example 1 hour candles.

Best regards and thanks, really love mypivots!

As always sorry for my bad English, have to improve it... :-)

Sorry to hear about your girlfriend kill - I hope that she recovers quickly.

When you say that NR7 has a great "hit rate" - what do you mean by that? I understand what you're saying about calculating it on hourly bars but once you see it what do you do?

Again sorry for being late... :-)

So what I do when I am seeing it:

First I only use Technical analysis in Futures Trading, when I am trading shares I normally not use TA or it is much less important as in future trading.

So, when I am trading the future and I see an NR"X" I look at all my other indicators, feelings etc. about the market. A NR can show me, that the market could maybe do an important movement in the coming trading time (the most easy example is before news...). When now the market makes for example a higher high as the last NRbar it's normally a good opportunity to go long. Normally with this you have more winning trades than loosing trades (hit rate? english... :-) ). When last NRbar is for example an NR5 the hit rate normally is higher than an NR1.

IMPORTANT: I would never do a trade only because of an NRbar. But this could be another indicator for filtering good trades. In the past I did about 20 trades per day in the same future (normally I am trading NQ). Sometimes it went very well, but my tradng was and is still sometimes really stressfull.... So I noticed, that the less I trade the better are my results! Also in my opinion fundamental data also in daytrading is really important, I only trade when NEW informations come on the market (NEW information not means only NEWS!!!). So now I do about 2-3 or 4 trades per day more and more I don't have negative days... :-)

Also I begann to trade more shares then the future, because in general my shares trading is much more "easy-going" than my futures trading.

Again, really like mypivots, people here are really cool. In german boards they are ****... stupid, so I decided since a long time to not more write on german boards... :-)

The above were round turn