I thought I'd create a new topic and try something out and see if it seems beneficial to everyone. I'll try to post every day or so the times that setups completed that I thought were good based on the methodology. I will only do posts for times for 3-minute or higher timeframe setups. If the setup is on a 1-min or 2-min but could be used as an entry setup for a higher timeframe bias I may mention those, too.
The idea here is to point out the completion points for setups I thought were acceptable so everyone can make sure they see the setup, and go back and do the work, perhaps working through how they might have entered, managed, and so on. Mostly, though, it is to give everyone a chance to see the places I thought were the best setups on a given day based on my application of the methodology. Some will not have 'played out', but were still worth looking at.
One more point. These are not necessarily going to be areas I traded off of, they are going to be areas I thought were good enough to be looking at. I am not implying I traded them. I may have, or may not have, but that will be independent of whether I list them here. I want to give everyone a chance to 'start to see' the areas I think are the ones that best fit the methodology.
Most of these will be ABCD's, even though I will sometimes find areas that have enough for me to consider them without the ABCD. As I generally say to my students 'The ABCD is the 'hub of the wheel', the center point of where I start.' I suggest until one has the methodology down cold, start everything with the ABCD. I may, though, throw in a few setup times where other factors contribute to the area (like POC, pivots, GLOBEX points, and so on) such that some of the usual KT factors may be less.
As you will soon see, the posts will be in a format something like this, of course subject to any improvements I discover as I try this:
March XX, 2009
10:34 AM EXP ABCD, 3-min
Any thoughts or suggestions welcome.
JI
jimkane
Rep: 3,058
Posts: 33,089
4/8/09
Key area to watch was yesterday's low, after about seven tries at that level.
9:45 S: Upper // from set from 4/7 on 3-min, 1.272, 4/7 HOD, GLOBEX 5 waves from 6 AM eastern, 5 waves without GLOBEX on 1-min.
10:38 L: Back to lower // of that same set, 4/7 LOD and key area again, 1.000 measured move (BC is way too shallow to call this an ABCD) within 1 tick.
11:47, 12:27 Retest of upper //. Not looking short, as it had tested that low enough times to make me think the rampers would at the least stop gun it over. See daily note. Also notice the 'cup and handle' on the 1-min at 12:42 as it blew it out, launching off that .382/.447 area.
12:58 S: Key sliding // from set from 4/3, .447, 1.272, 4/7 set's warning line and virgin POC slightly above.
15:11-12 L: Back to the same support area, 5 waves down, even a slightly uptrending TL off the lows comes in just about there. Note my comments elsewhere about the pit guy. Closes right back at that sliding //. Notice the struggle (and the flat ABCD) at that same upper //.
When it range trades for the day it is not uncommon for there not to be the type of ABCD's I'm trying to get everyone to focus on. I'll leave it to the reader to look at the 1 and 3-min and tick charts for all the small ABCD's today that could have been used for potential scalp plays, entries, clues, etc.
Key area to watch was yesterday's low, after about seven tries at that level.
9:45 S: Upper // from set from 4/7 on 3-min, 1.272, 4/7 HOD, GLOBEX 5 waves from 6 AM eastern, 5 waves without GLOBEX on 1-min.
10:38 L: Back to lower // of that same set, 4/7 LOD and key area again, 1.000 measured move (BC is way too shallow to call this an ABCD) within 1 tick.
11:47, 12:27 Retest of upper //. Not looking short, as it had tested that low enough times to make me think the rampers would at the least stop gun it over. See daily note. Also notice the 'cup and handle' on the 1-min at 12:42 as it blew it out, launching off that .382/.447 area.
12:58 S: Key sliding // from set from 4/3, .447, 1.272, 4/7 set's warning line and virgin POC slightly above.
15:11-12 L: Back to the same support area, 5 waves down, even a slightly uptrending TL off the lows comes in just about there. Note my comments elsewhere about the pit guy. Closes right back at that sliding //. Notice the struggle (and the flat ABCD) at that same upper //.
When it range trades for the day it is not uncommon for there not to be the type of ABCD's I'm trying to get everyone to focus on. I'll leave it to the reader to look at the 1 and 3-min and tick charts for all the small ABCD's today that could have been used for potential scalp plays, entries, clues, etc.
JI
jimkane
Rep: 3,058
Posts: 33,089
4/9/09
Key area to watch: anything 'up'. Just up, ride until close, buy every dip. Please read my note on the GLOBEX 'prediction'.
9:40 L: Choppy 3-min ABCD from GLOBEX, .300, .618 from GLOBEX. There were two set lines from GLOBEX, too, but you'll have to hunt for them. They are clean once you see them, but you need to know the technique or you won't see them.
10:00 Previous all-time bull GLOBEX high and nice 3-drives on GLOBEX. Expect a check back for long entry. Not even thinking short in my wildest dreams.
10:47-48 3-min 1.272 ABCD perhaps was worth a shot in case that was it, but it was a small checkback for such a rise, and I had something better below. See next post.
11:45-47 L: 1.128 ABCD (by Elliott rules, the AB leg can be a 3-wave), 7-min traded timeframe (I'm not watching the 7-min, I'm just saying this ABCD is proportioned for a 7-min traded timeframe, so I have that as my reference for higher or lower timeframe proportion), .886 gap set, near dead on GLOBEX set, division line for second GLOBEX set, old ML from earlier set, non-GLOBEX downsloping set ML, and so on. Big convergence.
12:16 Note 'wave 2' EXP 1-min ABCD, with C point at upper // (and TL) from downsloping set from last post.
13:40-41 Note the TL and lower // pullback.
14:16-17 L: 3(+)-min (three plus minute, meaning a bit more than 3-min) EXP ABCD, .618, .685.
15:14-15 1 to 2-min ABCD. Note the chop that follows, creating a bigger but still obvious correction to launch it up for the final move into the close. Never dropped below D point of the initial ABCD.
Close near HOD, up about 30 points from the previous close. Recall my long trigger around 824 in the GLOBEX. Note that it never traded below that entry after that, and that the big launch was off a nice 4-Point (4-Point/Flat, since both points were .941's?) in the GLOBEX at 7:43-45, off a TL and a key ML.
Key area to watch: anything 'up'. Just up, ride until close, buy every dip. Please read my note on the GLOBEX 'prediction'.
9:40 L: Choppy 3-min ABCD from GLOBEX, .300, .618 from GLOBEX. There were two set lines from GLOBEX, too, but you'll have to hunt for them. They are clean once you see them, but you need to know the technique or you won't see them.
10:00 Previous all-time bull GLOBEX high and nice 3-drives on GLOBEX. Expect a check back for long entry. Not even thinking short in my wildest dreams.
10:47-48 3-min 1.272 ABCD perhaps was worth a shot in case that was it, but it was a small checkback for such a rise, and I had something better below. See next post.
11:45-47 L: 1.128 ABCD (by Elliott rules, the AB leg can be a 3-wave), 7-min traded timeframe (I'm not watching the 7-min, I'm just saying this ABCD is proportioned for a 7-min traded timeframe, so I have that as my reference for higher or lower timeframe proportion), .886 gap set, near dead on GLOBEX set, division line for second GLOBEX set, old ML from earlier set, non-GLOBEX downsloping set ML, and so on. Big convergence.
12:16 Note 'wave 2' EXP 1-min ABCD, with C point at upper // (and TL) from downsloping set from last post.
13:40-41 Note the TL and lower // pullback.
14:16-17 L: 3(+)-min (three plus minute, meaning a bit more than 3-min) EXP ABCD, .618, .685.
15:14-15 1 to 2-min ABCD. Note the chop that follows, creating a bigger but still obvious correction to launch it up for the final move into the close. Never dropped below D point of the initial ABCD.
Close near HOD, up about 30 points from the previous close. Recall my long trigger around 824 in the GLOBEX. Note that it never traded below that entry after that, and that the big launch was off a nice 4-Point (4-Point/Flat, since both points were .941's?) in the GLOBEX at 7:43-45, off a TL and a key ML.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, it was. It would be tough to ride through that EXP if one kept their focus down too low on the timeframes, especially since the reason I think EXP's work is that they sweep the stops moved to under that previous swing low, the B point. It gets those stops, the widest most anyone could handle, and up it goes. Maybe one had six points in the trade, it violates the obvious TL, it takes out the previous swing low, everyone is bailing, it's down over four off the high and the profit is back to under two points and dropping fast, and they all get out and it's free to run. But there is something I show my one-on-one students that really had me expecting a bigger correction at that very point, so this was expected for me. Again, if you work with me and don't know why I saw this coming, make sure you ask me the next time we work. Sorry it has to be this way, but I can't let everything out in a forum, even a private one, just most everything.