Taylor Trading Technique

[richbois 10]

Not a bad Buy day for my Cycle. ES declined to the projected lows and then rallied all day to the previous day high.

 

It is so much easier to see these levels now with the Add-On software the take the numbers from the report and puts it right on the chart for you.

[richbois 10]

Hi All

 

Today was a perfect example of a Sell (confusing) day, but the markets managed to make a higher high anyway. On ES 2 short trades were possible at the TTT MA levels and with good Fibs or DP

[richbois 10]

Today was a perfect SS day. We gaped up and failed to take out yesterday's high. This was also the 3 day rally projected area. We then crawled down all day to go test the previous low.

[elovemer 10]

Dogpile you still there ?

This thread is to discuss the 'count' of the Taylor Trading Technique. For those unfamiliar, you can read about it in George Taylors book or in Linda Rashkes 'Street Smarts' book - Chapter 7 & 8.

 

Rather than discus the technique broadly, which is somewhat complex -- let's just dive into present-day conditions and decide what day we are on and why we think so...

[elovemer 10]

Dogpile you still there ?

This thread is to discuss the 'count' of the Taylor Trading Technique. For those unfamiliar, you can read about it in George Taylors book or in Linda Rashkes 'Street Smarts' book - Chapter 7 & 8.

 

Rather than discus the technique broadly, which is somewhat complex -- let's just dive into present-day conditions and decide what day we are on and why we think so...

[elovemer 10]

....Dogpile..... 10-4 come back.... .let's get this thread going again....

 

 

Quote:

Dogpile

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This thread is to discuss the 'count' of the Taylor Trading Technique. For those unfamiliar, you can read about it in George Taylors book or in Linda Rashkes 'Street Smarts' book - Chapter 7 & 8.

 

Rather than discus the technique broadly, which is somewhat complex -- let's just dive into present-day conditions and decide what day we are on and why we think so...

[elovemer 10]

Dogpile.... where you at ?

[elovemer 10]

... an ideal buy day is a low made first.... with a high made last....

... an ideal short day is a high made first which penetrates the high of the 2nd day of the cycle.... if an uptrend....

----------------------------------------

.... in a downtrend.... an ideal sell day is a high made first... with a low made last....

.... and an ideal buy day is a low made first which penetrates the low of the 2nd day of the cycle... if a downtrend....

 

... depending.... the cycle could be only 3 days... or more than 3 days....

Just downloaded a copy of ttt .

[richbois 10]

Just downloaded a copy of ttt and it is very badly written and hard going.I want to persevere with the concept though as it fits in very well with how i believe markets work.Somebody really should lay out this concept in a much condensed form with clear diagrams.But your suggestion of relating it to the market going forward would really help me pick this up quicker so i hope you don't mind me joining in here as a newcomer to this forum.

To get the ball rollin' i guess todays rally was a buy day,and that the cycle might be extended beyond the normal 3 days? Today was a 'gap up and go' and was easy to spot early on.I would think that not as many shorts are trapped as you might normally assume for 2 reasons (1) many bears must have got increasingly nervous as the recent selloff looked over extended with the vix not showing panic and no real news, (2) fridays strong close off the 666.7 low,was an early warning for bears to cover.

 

I must agree with you that Taylor had a great mind, but a terrible writer.

 

I did a short recap of his book which is available through my website.

 

There also must be a reason why no one has ever rewritten his book. Probably the manipulators don't want everybody to understand how they move the markets. Others wrote how they modified the method to the way they understand and adapted their trading to the principle.

 

I had Monday as a Buy day. On Buy days we need to get a decline from the SS day high. Since we had closed near the highs on Friday the decline had to take place on Monday. On Sell days we need a rally from the Buy day low. That is exactly what we got on Tuesday.

 

Rich@taylortradingtechnique.net

 

http://www.taylortradingtechnique.net

[elovemer 10]

....nice going mitsubishi....

 

.... it seems the thread has died somewhat..... we got to get it going again....

Looking at todays action and comparing to my earlier post,not too shabby.First, the morning high was close enough to 734 resistance.Then in the selloff we were looking for 717 support around mid day.The actual low was 714 but came later at 2.30pm (mid day was around 718) ,r than me babbling on for 3 posts in a row!

[elovemer 10]

... here is my count.... on hourly chart....

... with BMSB 3 day cycle....

... my next sell/short day is monday....

....nice going mitsubishi....

.... it seems the thread has died somewhat..... we got to get it going again....

Thanks mate.

[elovemer 10]

.... if my count is correct....

.... then if the low of tuesday as a buy day .... is a higher low than thursday's low (buy day) ... then the uptrend is intact....

....thursday low was 710.75 ES ....

.... so if tuesday low is above 710.75 .... then could be an uptrend now....

... here is my count.... on hourly chart....

... with BMSB 3 day cycle....

... my next sell/short day is monday....

[elovemer 10]

.... today monday is my sell/short day ....

...i am looking for either a gap up .... or a high made first....

 

... for a short play.....

... with tuesday as a buy day .....

.... the short may not be as important as the long will be .... since it seems to be an uptrend now.....

[elovemer 10]

... high came first.... although late in the day....

.... low came last....

...decline came fast and hard... so must cover without holding overnight.....

 

... for an uptrend... tuesday low ... needs to be higher than 710 es .... in order to maintain up trend.... for tuesday buy day low....

 

..... possibility of holding short over night.... is suggested by the lateness of the high.....

.... sometimes if the high comes late in the day ... it suggests a continuation of the downside correction....

 

.... 50% is at 718 es

Edited March 16, 2009 by elovemer

[elovemer 10]

.... today tuesday .... buy day ....

.... looking for a low made first... and early in the session ... for a buy point....

.... if this next cycle carries like the first one did.... then can look for signal that trend could change to down again or not.....

..... depending if this buy day low is higher than last buy day low or not.....

[elovemer 10]

.....got the low made first....

.... now let's see if it holds or not.....

.... today tuesday .... buy day ....

.... looking for a low made first... and early in the session ... for a buy point....

.... if this next cycle carries like the first one did.... then can look for signal that trend could change to down again or not.....

..... depending if this buy day low is higher than last buy day low or not.....

[elovemer 10]

.... my next sell/short day is thursday.....

.....got the low made first....

.... now let's see if it holds or not.....

[elovemer 10]

....nice job mitsu.... looks like you had a similar plan to mine....

...... let's see how many cycles we get out of this up swing....

Close today at 756.5 what you see.Have a nice weekend.

[elovemer 10]

... looking for a high made first on thursday .... for the short play ...

....nice job mitsu.... looks like you had a similar plan to mine....

...... let's see how many cycles we get out of this up swing....

[elovemer 10]

...... want to see friday low .... put in higher than last buy day low at 746....

.... by my count.....

.... in order to continue the up trend.....

 

...EDIT.... got the high made first on thursday for the short play

Edited March 19, 2009 by elovemer

[elovemer 10]

....at 8.23 am .... good setup here for a penetration of globex low ... for a buy point....

.... have to wait and see

 

... for a low made first

Edited March 20, 2009 by elovemer

[elovemer 10]

.... if there is to be a low made first....

.... it could be later in the session....and a big rally at the close

 

.... a low first ... early in session is better....

....at 8.23 am .... good setup here for a penetration of globex low ... for a buy point....

.... have to wait and see

... for a low made first

Edited March 20, 2009 by elovemer

[elovemer 10]

....low is higher than last buy day low....

... but high made first... low made last... bearish...

... must wait for next sell/short day .... tuesday....

[monad 10]

[/quote

It's still my view that the rally has been halted at 803,confirmed again today when prev support 789 became resistance.Market closed right on the 768 support.Rather than buying on a buy day in the cycle,when your view is that the trend is down,i see this as the smart money holding up the selling to stop the market 'running away' from them and since monday will be a sell day,they held it at 768 for the last 2 hours and into the close so they can push up the futures on sunday/monday morning in order to start selling again higher up.Then tues is a short sale day which could take us to 734 support where the rally could continue.The pattern today was an inversion of monday. R10 (x2) worked well again the high 788.9 close 768.5.and there was a 10 point bounce off the low 766 to 776 before the selling resumed....and some people think the market is random... have a nice weekend

 

Interesting take, you obviously have grounding in Taylor methodology, would appreciate if you could take the trouble to illustrate with charts, that would make it a lot easier to follow,

 

BTW what is R10(x2)

[monad 10]

Thanks a bunch mitsubishi, yes the explanation with charts are great to understand your viewpoint.

Interesting analysis.

 

Thanks for the links : have the Taylor book, infact have gone through it a number of times and with the help of WHY? and Richbois have learnt a lot .

As far as support/resistance levels are concerned, I am not much into elliot etc, but just use the previous price ie. swings, congestions etc to mark off . I believe elliot waves are discussed much more on Richbois thread:

http://www.mypivots.com/forum/topic.asp?TOPIC_ID=3237&whichpage=76

I am sure you posts there also would be very much welcomed.

 

Look forward to more input and discussion with you.

well it is Monday, should be very interesting this week,

 

Say do you take in to account the Globex session. as prices overnight have reached above friday's high on ESmini (M9)

Edited March 23, 2009 by monad