3 replies to this topic

[dowdeva]

Zoro,

 

Do you mind explaining your system for dummies like me?

 

http://www.traders-t...weekend-update/

 

I know they refer to levels and targets, but can you be more explicit about your shorthand?

 

Or maybe there's a post somewhere?

 

Thanks

 

This week is the window for the Hurst 5 week low after the 18 month trough in December, in my system.  A lot of compression, big move likely to come, which may be quickly truncated by massive overhead resistance.

Best regards,

 

~deva

Edited by dowdeva, 29 January 2019 - 04:01 PM.

[zoropb]

dd, it is a system based on price the #1 leading indicator. I found after years of staring at price it moved in certain ways repeadly and after messing with back data I found if I divided the typical day, week, month Quarter, and year into 4 units of price they tend to move in those divisions on a consistent basis.  The index tends to stop and turn near these divisions either completely turning or just for a corrections in many cases that are divisions of the level or a complete level for the session. The start of any session be it day, week ,etc. is good to get at least 1 Level in to work from. The average day moves 4 levels so does the week month etc. If it does not it means it will make up for it in time.  

 

Take for instance today since it is fresh on the minds. Overnight saw 28.50 low to 47.50 high before open or basically 2 levels. So I watched for a clue when to go in near a level. Price went up to 50 and it looked to me like we completed 5 waves and figured at least 1 level +- correction is due. So I went for a breach of the high bar on min scale the 10:03 bar breach and as you see it went a little more than one level down or 11.5 points but for me all I cared about was the meat of the move. btw this works on any time frame.  Then thinking ok at least an abc up is likely of probably half a level or 5 points in todays level. I waited for the first wave and correction and went in on the 10:24 bar breach C wave and let the min bar breach the opposite way on half my position taking me out, the other I went out after a couple point gain. I could keep going but it may help to just post here and there some examples. 

 

You are correct we are due for a massive move. and I doubt it is to a new high as in past Sept/Oct. highs. One of the indicators that I came up with from the levels is screaming for a huge move.

[K Wave]

Understand the concept just fine as far as trading of the 1/4 levels. But not exactly clear how you go about determining the starting level values?

 

For example in your link above, how did you determine the Day (10) ,Week (28.25) ,Month (69.75), Qtr (90.5),Year (114) values?

If you can share how the original numbers are derived, would be interested in playing around with this.

 

And somehow the math seems off? Or am I missing something?

For Example:

 

Month: 69.75 Level 35/17.50. We have already used 2.5 approx.. We entered yellow caution zone after last months bar.
1= 2508.25 ---2438+70 OK
1.50= 2543.25 ---+105 (70+35) OK
2 = 2578.25 ---+140 OK
2.5=2648----shouldn't this be 2613? +175
3= 2682----shouldn't this be 2648? +210
3.5= 2718 ---should this be 2683? +245

Then 4 would be 2718?

[zoropb]

Yes you got it W.    

 

The first question in time.