waveslider

Here's one of the most useful tools I have seen for visual trading, all credit goes to Hamfon on TS forums.. It displays lines connecting highs with highs, lows with lows. I'm just startgin to play with it... http://www.hamfon.com/daytrade/HamFonMovingTrend-I.eld

Clyde lees was ok but not accurate either. It misses the good ones.

Sorry, that was regarding bubba's post of the ES chart. Whats that weird red bar covering a critical pivot point?. Looks like a junk indicator, number 2 point is wrong, and it looks like the #5 point never actually met the upper red line. I think it's hard to code this indicator. Probably the best would be jan arps, I think he calls them fox waves or arps waves, duh....

Not technically, because the #3 pt. is above #1, but who cares - it worked. You have a good eye for them hubba bubba. All we're looking for is a failed pattern, in this case a failed descending triangle. Wolfe adds the price target for the failure. It's usually hard to find a true ww on a trending day. I think it's more likely to see a failure like the one you found.

This one had a deep #5. It would have stopped you out if you took the aggressive entry. If you waited for the 2-4 line it was fine. Notice where it closed, at target. My number 1 point is at the 50% mark, as usual.

Just got into reading the market and had to post. I bought NQ ER2 and ES yesterday on the close based on that. Selling today on close. I like your rendition. Especially the part about old wolfie! It's fun when you can think like a contrarian (and be right).

Daily chart has potential to go both ways.. at a pivotal point today - - especially by forming a doji on the daily chart. The Andrew's lines are so nice.. Trix has broken out. That means the momentum of the previous down trend is either slowed down or stopped. You know everyone is watching the 61% fib number of this pullback, looks like that is at 752.5 area. Volume was above average but unimpressive on the first push higher, there should be volume if this is going to be a successful move. Good volume on a gap higher tomorrow morning looks like a good long entry...

Check out this chart of ER2, Trix showing divergence. This is setting up a beautiful potential buy signal on many time frames.. we'll see.

Oh yeah that's the TRIX (it's just price smoothed exponentially 3 times). It's the canned tradestation one. I like to put 2 lengths down, I have a 9 and 13 there. I wouldn't use it for trade entries, actually I've tested it and nothing I could come up works, but that's the same with most canned oscillators. I just like to watch it for, like you said, divergence. It works really well for that, a warning signal is all. Possibly a confirmation of some other method. Tasuki, you know I am saving all the charts I put up in a file and its incredible how similar some of these are. Some of them even take place at the same time of day. I think not too many talk about this.. or maybe just can't see it/program it.

pretty good one in ER2 today. Starting to think that the place to draw the #4 line through should be the bar used to draw a down trendline from 2 to 4. Notice how pt #1 is at 50%?

One gauge of internals I watch everyday is the Russell futures contract vs S&P futures on a percentage change chart. When the Russell has relative strength vs. the S&P an up move will persist and a down move will soon reverse.

I think pensaveto places more importance on Jupiter than crowd psychology, if i remember right! Anyway - - yeah in the short term it's even less psychology as it is finding where the stops are, running them to create liquidity, and then heading in the direction of the higher time frame trend. I could see trading pt 4-5 because its usually the most violent part of the move... and then you know where to reverse or exit..

How did you draw those cool dotted triangle things? I haven't done that much work on Butterfly, but I think that understanding market geometry would aid in finding successful patterns. Is the butterfly generally a sort of whipsaw move?

Hey Mr. Paul. This is a really great question, since proper use of multiple time frames is the way to turn a winner into a windfall. Mult. time frame trade management is most appropriate for slightly longer term players (not intraday scalpers). Personally - for my short term (1-5 day) trades, I look for daily signals, then use price action at the open and close of the day for entries and exits. The day after entry I use 15 min. charts to identify locations to hedge a portion of my position. When the daily chart tells me to exit, then I close the position and the hedge.

Here's one on a 466 tick ER chart. I chose point three because this was the momentum high. It was the natural point to use as a trend line. This market is having a hard time going lower, but it's doing a good job of shaking out longs. A triple bottom (rare) may have been confirmed with the late afternoon's failure to close lower. I bought this market at the close of yesterday, holding..

I like 900 ticks for ES, probably equates to about 4 minute charts

I agree with you that the legs being of equal distance is not critical. Remember though that you are looking at tick charts in these examples, they don't match up with time always. I did notice that in your first chart, the distance between 2 and 4 is about the same as distance from 3 to 5. This is another timing method.

Any fund manager should know that being a successful trader is about discipline and consistency. I can't imagine cherry picked charts landing you a job, really. I think the most important selling point you will have is your track record and your interview. Your potential employer should know that charts won't tell the whole story since they don't take into consideration what the overall market was doing at the time, and other outside factors that affected the trade. just my 2 cents. 3 cents - - logging sucks. Make paper out of hemp or something more sustainable. BC tree farms are hideous, run by very powerful greedy bastards who don't care about sustainability. By buying virgin paper you ARE perpetuating this.

He had a good day, got drunk, had some of his happy pills, and decided he was a trading god. I love the logans run fear analysis. I think he's great. I would pay to watch him get wasted and trade futures live. drugs? who put drugs up here???

Hey James - - this line said it "and the second I start trading with real capital fear takes over". The problem is likely that you are under-capitalized. You worked hard for that $ and realize how quickly you could lose it. If you had total confidence in your approach and its consistency, then you would execute without emotion (ironic we want to operate like robots). I had the same issue, worrying about rent, food. Keeping a notebook is good, summarizing your problems and being aware of them. If that doesn't work, try NLP or some type of auto suggestion. 2. You don't feel silly once you figure it out. You feel relieved, and if you are not a disciplined person (like me) then emotions will always be an issue. I pull money out of the market every day, but I trade primarily mechanically. That might be an option for you too..

Check out this bearish one in the ES today.... point#5 right at VWAP, good quick move from #4 to #5, point 5 hit on volatility.

Just from a market symmetry standpoint, look at how pt. #1 lies on the 50% mark of the entire leg up... interesting.

Made it to the top of the channel and turned back down, pattern target not achieved.

WW in YM - dow emini. 2 min chart... a little messy- #2 point inverted

My pleasure posting charts, it's nice to see eye to eye with someone else. I'd put #3 at 3a, since that was the first one. Although the 3c is lower, it doesn't penetrate the acceleration line. You had to be quick to see this one in real-time, but the way the #4 and #5 pts came so close together, you could see that price was just trying to shake players out. Plus, there was a bullish bias to the day. I'd say the first thing I look for is a point #2 and #3, and to identify that these are occurring in a range. Then wait the trap is set, a variety of things can happen next, but these are the first clues to look for to set up the pattern. Also important is observing volatility in the market. This pattern comes along when the market is trying to shake out short term traders, there should be some other fake-outs nearby. You can see quite a few in the period between points 3 and 4. Then the shake out gets bigger (volatility still intact), and there you are, waiting for the final blast. When Joe trader gets stopped out below the pivot, it's just about time for action.