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no action on sell day unless to close out longs from buy day

 

wednesday ... short sell day .... short on a high made first above tuesday high

 

or a long scalp on a low made first below tuesday

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on short sell day .... go short on a high made first above the prev high

 

however this is an up trend .... today is only the 2nd day up from the low

 

also.... has not yet reached prev high around 30

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for thursday ... buy day

 

don't see much of a chance. because SS day did not put a low in to be tested

 

buy day taylor rules calls for a long below SS day low on a low made first .... however it is risky with the gap below ... which could fill

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taylor says long below yesterday low .... as per this chart

 

 

however i would like a down day first ... or a low to be put in

.... that's a lot to ask for during a strong up trend

Untitled.gif.901a3db75e87f6bcc5301db339090a8e.gif

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on SS day .... no low was put in

so buy day tuesday...... the move will either be stolen to the upside

or a low below monday low .... is a strict taylor entry

 

without a low already put in .... it creates a trap for longs in case one of these gaps fills

 

in summary.... you are either already long, or you have to take a strict Taylor entry on a low made first

 

and a low made first is unlikely given the bull trend

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Have you got your days wrong ? You had (same as me) tues as buy day (post 10) weds sell thurs short fri is buy.

Btw let me know if you prefer to be the only poster here.

 

I was thinking today (Fri) should be a buy day also...

 

Elovemer - thanks for your posts. I'm still learning TTT so every bit of info helps.

 

Regards,

 

CYP

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my mistake.

must have mixed the banana bong water with the avocado shake on accident this morning

: (

friday..... buy day

 

good call

TUESDAY BD ...... FRIDAY BD

thursday is sell day ....

friday is short sell day

short on a high made first above prev high

or

a long scalp on a low made first

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on friday ... buy day

Taylor would say long below prev day low

however i say prev day was not down .... so either wait for a down day ...

or

take a long below low of wednesday ... that is 2 lows back

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

 

if prev day was down.... could do a long below prev day low... as per my own rules

 

if the swing was down trending .... then the long would be ten points below the prev day low

Edited by elovemer

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the more posters ..... the better

nobody is right and nobody is wrong

every body has their own techniques and style

 

i am not trading strict taylor rules as i have explained previously

and i am not using a book for my estimations.... but 10 points instead

10 or 20 points... either or.... not a range

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the tricky part of taylor method is .....

today is friday

 

you have a long below wednesday low....

however it is 12 noon and price is still sitting around below that low

 

in other words.... taylor method TAKES SOME FAITH !!!

 

a low made first can be a gap down open .... so basically a long from the opening price according to taylor

 

target is previous highs....

if it comes same day then take profit

if it doesn't.... then it depends on where it closes .... near the day's high or low

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if the previous day is up ..... SS day

 

the reason why i want a down day first before a buy point is because it means .... MORE PEOPLE ARE WRONG

 

if more people are wrong, then it increases your chances to go against the herd

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for people who are just getting into taylor.....

download his book for free

 

there are a couple of pages at the end where he is doing a journal of trades taken

 

forget about the book itself..... just read these few pages .... a few hundred times.... then compare to a couple of weeks in your chosen market

 

and try to make similar notes of your own ... for your chosen market

 

i think this is a better way to understand what he is doing than trying to make a lot of sense out of his writing

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....some jack asses say that taylor's methods are out dated and that they don't work in today's market

....i say those jack asses are jack asses....

 

if it doesn't work for you .... then take the few tid bits that do work and use them

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i am always bullish on tuesday and thursday .....

in this case ... tuesday will be a SS day ....

short scalp on a high made first of at least 10 points

.... or a long on a low made first of at least 10 points

 

below ... the low of sell day monday .... is unlikely .... because of up trend

 

probably will gap up as usual .... and possibly a pull back for a long entry ... if lucky

if the gap is large enough .... probably very little if any pullback

 

friday buy day was the swing entry ... to hold

but how many retail traders are willing to take that entry and hold over the weekend ?

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monday .... sell day .....

close out longs and get long again if desired.

Just curious about your cycle days, you have monday as a sell day, I have monday as a short sell day, so I went short today above last Fridays high of 1348. How long ago did you begin your cycle count and are you market specific

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