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.
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RI
Richbois
Rep: 150
Posts: 590
quote:
Originally posted by simba
o.k I thought you guys go strictly by TTT rules, yesterday market went up and down nearly 14-15pt, so was wondering if other tools are used to gain entry.
Today would be a Short Sale Day, and since Sell day close was weak, guess market could open weak, hence no short sale.
and there is no buy on SS day either as per Taylor
According to the Pure Taylor Rules you are correct, however as mentioned in the Guide to trading TTT E-Books we do have an exception for going long on a SS day. If we gapdown on the SS day and open below the Buy day low, we have very high odds of atleast getting back to that low at some point during the day.
So this morning we had a perfect set up for that as we opened lower than the BdL on ES and had 83% chance of getting back to 852.25.
We also had a DP signal to help triger a trade.
ST
stocksster
Rep: 1,303
Posts: 181
quote:
Originally posted by Richbois
...We also had a DP signal to help triger a trade...
Rich, are you referring to DP signal in MTPredictor? If so, what timeframe (3 min, 5 min,...) do you look to confirm on MTPredictor with what you see on your TTT numbers? Could you please provide a screen shot of such a chart showing this example?
Thanks in advance.
RI
Richbois
Rep: 150
Posts: 590
quote:
Originally posted by stocksster
quote:
Originally posted by Richbois
...We also had a DP signal to help triger a trade...
Rich, are you referring to DP signal in MTPredictor? If so, what timeframe (3 min, 5 min,...) do you look to confirm on MTPredictor with what you see on your TTT numbers? Could you please provide a screen shot of such a chart showing this example?
Thanks in advance.
Sorry I was in a rush today and didnt have time to take snapshots.
The MTP DP was on both 3 and 5 min. That signal with most filters set to off, is based on the 24hour chart low of 4/23 at 23.30 PST
Also on the 24 hour chart we could see a nice ABC down with C at 127% of A.
I will post snaps in the future
SI
simba
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Posts: 49
29TH April Wednesday turned out to be a very similar BUY day as 24th April Friday
RI
Richbois
Rep: 150
Posts: 590
quote:
Originally posted by simba
29TH April Wednesday turned out to be a very similar BUY day as 24th April Friday
Yes both days had shallow declines which normaly indicates a bullish sentiment.
SI
simba
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Posts: 49
That bullish sentiment has showed up as a gap up today , ideal place for exiting longs as per Taylor
question is, is it ideal for shorting?
question is, is it ideal for shorting?
RI
Richbois
Rep: 150
Posts: 590
quote:
Originally posted by simba
That bullish sentiment has showed up as a gap up today , ideal place for exiting longs as per Taylor
question is, is it ideal for shorting?
Tuff call on shorts since we have TVGR in effect
SI
simba
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Posts: 49
looks like a short would have been o.k, wonder if any TTT levels indicated that.
RI
Richbois
Rep: 150
Posts: 590
quote:
Originally posted by simba
looks like a short would have been o.k, wonder if any TTT levels indicated that.
24 hours levels were at 880-882 and day session levels were at 888 area.
Normaly this was the time of day that TVGR could reverse by making a double top but I didnt take that trade as there was no divergence on the 5 min chart. Now after the fact I see divergence on the Wave oscillator 3 min chart but I didnt see it back then.