FX:AUDCHF   Australian Dollar / Swiss Franc
125 9 2
Each time the same-size sloped price range. It's actually range trading, with ranges shifting downward (in Jul and Aug) and recently - upward.
I am quite satisfied with my analyses I develeoped for myself that are neither a system nor a science. But you chart made my mouth water for another idea. I will also read some Ackerman now. Perhaps there is something I can use. At least one lerns something about market behaviour seen from another point of view.
ForceFollower motleifaul
Sure, but it takes time for a new idea to sink in. It's always an evolution, a slow process of modifications. Your way of thinking already has some fundamentals that act as a reference framework. You learn a new idea, compare it with you what you know, and first - see if it contradicts or complements your state of knowledge. If it's the former, you'll reject it; if it's the latter you'll accept it, maybe even explore it. I've been doing it since 2008 and I can see that there are just fewer and fewer new ideas - but they are there. However, I don't think I need them all for my trading. They're useful, only if they give me an edge, a true edge that I can feel it's an edge, ie. a tiny little detail that I know very few, if any, people are aware of or practise. I read, watch, listen, think - all the while being sensitive to such details. And my best edges are the ideas I learned from others, adapted for myself, slightly developed and made them mine. :-)
No obvious pitchforks (?) but a lot of Coghlan's 'path of price' - that's what's allowed you to generalise the idea of a range trade :)
ForceFollower cryptoyoda
Try to draw pitchfork here - they seem out of place. Now, even if you add the opposite frequency, you'll see the ranges are the same either upsloped or downsloped:
cryptoyoda ForceFollower
I did, and came to the conclusion there wasn't a decent pitchfork to be had! And I think you mentioned before that there can often be visible up and downslopes coexisting...

Look at all the ABCds though (blue = reached D, orange = failed beyond 50% of CD, red = failed at 50% of CD leg):

I think the AB legs are often due to external shocks; the pitchforks work best when there aren't too many & price can 'bounce' freely for a while; the ABCDs aim to catch the first major bounce. So they're complementary...

One rule of thumb is buy at 25% into the projected CD; with a stop at C. The tricky bit is getting C right :)
ForceFollower cryptoyoda
I have watched a couple of videos by Ackerman. I have been through this kind of analysis before, esp. inspired by the famous Robert C. Miner (as well as Joe DiNapoli somewhat). I use these tools every day, but I don't show them too often on my charts as most people might not understand them. Actually, I call the ABCD patterns APPs (alternate price projections), taking this name from R.C. Miner. I distinguish impulsive and corrective APPS (I-APP and C-APP). My I-APP is Ackerman's CD leg and my C-APP is Ackerman's DE leg (if he labeled the waves further on). If this kind of analysis appeals to you, I recommend you read 'High Probability Trading Strategies' by Robert C. Miner.
I agree with you, here's the eternal question - is the C there yet? Is it confirmed or is the swing not done yet? Maybe I'm wrong, but I think Ackerman doesn't use absolute highs and lows, only the ones that ignite the actual impulse move. That's different from how I use these tools and actually I don't like the subjective choice of the A pivot.
Nevertheless, thank you for suggesting me this idea and showing it to me on my chart. I am going to watch more videos and see if this kind of analysis fits me.
cryptoyoda ForceFollower
Thanks; I'll check out that book :) As you say, Mr Ackerman's As aren't necessariIy the obvious pivots; I guess this subjectivity of A could cause problems; in particular a small A could trigger an entry too early. But he has got some tricks that I think in practice define a 'minimal' AB leg in many cases, uses the CD midpoint and D as entries, and also has a way to enter with a minimal stop (camouflage). I think until the pattern's completish this is less so for C, and this is the main risk. Anyway, I'd be very interested to discuss it with you when you've had a chance to investigate it further (assuming you have time & interest).
ForceFollower cryptoyoda
Do you use the hidden P pivot as: a) a target or b) an entry point? I thought it was all about the 'a)' but you also mentioned 'b)' and so does R.A. in his videos.
cryptoyoda ForceFollower
My understanding is P and D are both useful as entry points for anticipated trend changes. D is also the target when the CD-leg is anticipated to complete. He recommends using P as a place to take partial (50%) profits in some trades. I'll be signing up for his forum this week & asking lots of questions :)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out