price projection dilemmas

I would appreciate some guidance from Kool, VO or any other forum members who are experienced with the price projection techniques. How does one handle the situation where you get a significant candle (let's say its a swing high at the upper BB) followed by another significant candle which projects in the opposite direction (let's say the second candle is a swing low at the lower BB). This could also apply to a situation where you have a top abc with a bearish projection followed by a bottom abc with a bullish projection. In either case the projections have not been met but the swings have not been taken out yet thus the projections are still intact. All I could think of was looking at MAs and oscillators which might give a clue as to which price projection might prevail.Are there any other tips that one uses to get an edge which would allow you to be on the right side once the move actually develops? Thanks E.

Hey friend, i think you may be making things more complicated than they really are! First off, BB have nothing to do with it! Second ,i suppose you will always have up and down projections! After all we never took out 739 so we have substantial upside projections from there, right? and we may have shorter term downside projections at the same time from fridays action! No holy grail here. Projections should not be strictly used to try and predict direction as much as what may happen when we get there! thats why im really neither bull or bear! it doesnt matter if we going up down or sideways, all i care about is that we hopefully decline a little after an upside projection is hit, or the opposite on a downside projection.As far as indicators go, i only use them in a real general sense, for instance, right now we are somewhat overbought on the shorter term charts i trade from so i would rather sell ,than buy, but ill still do both if cycles and projections justify it!

Thanks Kool. I understand what you are saying. I am trying to use your technique but apply them to a 3min or 5 min chart. I prefer to trade less often during the day and to hold for somewhat longer gains. Also since I tend to trade with the trend this means only trading off 50% of the projections- for example if trend is strongly bullish, I should favor looking at price projections from a peak to estimate where to get in at support. Do you see any problem modifying your technique to accomplish this or I am just off in left field?

One further point- in following the trades in the forum it seems you not only fade once a price projection is reached, you also sometimes jump on board riding Price Action towards the projection as well. Is that correct?

copied from friday-s thread since it's same topic more or less than einstein's:

"
Hi Kool. Interesting method of time and price.

I was wondering if you do use your cycle/price method for trading with the trend, and how do you climb on board in those cases. Or maybe today was unusual day for going against the trend?.

Thanks
"
Maria

ps: I think it was really amazing seeing you making so many points last friday shorting the spots against the trend. Really the price seems to stop/bounce at your spots.

Maria: one technique we have shown a few times is within a strong primary trend, to make a retracement extension forecast using KB's technique and enter in the primary trend direction at the 161.8 level. I personally like to have an additional support level, such as the VAH (in an uptrend) or POC, or simply the 20 ema on the 5 minute chart (the LBR grail setup mentioned several times by PDQ). The idea being, if we can get a 161.8 extension (retracement) to line up with one of these trend based S/R levels, then we have a strong level to work with to enter in the primary trend direction. This strategy takes some patience however, since it requires a strong trend and a substantial retracement within that trend.

pt emini, how do you decide the primary trend direction???

quote:

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Originally posted by einstein

One further point- in following the trades in the forum it seems you not only fade once a price projection is reached, you also sometimes jump on board riding Price Action towards the projection as well. Is that correct?

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CORRECT

quote:

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Originally posted by Maria

copied from friday-s thread since it's same topic more or less than einstein's:

"
Hi Kool. Interesting method of time and price.

I was wondering if you do use your cycle/price method for trading with the trend, and how do you climb on board in those cases. Or maybe today was unusual day for going against the trend?.

Thanks
"
Maria

ps: I think it was really amazing seeing you making so many points last friday shorting the spots against the trend. Really the price seems to stop/bounce at your spots.

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I think the fact that i made some money going completely against the main trend is testament to the power of the price projection method when used correctly! Simply put , i dont know of any other method of technical analysis that even comes close to being able to do that. Having said that, imagine how much more could have been made trading with the trend! Ive stated before ,and still believe im really not that good of a trader! truth be told ,there are several ,more skilled than i ,at this very forum! I believe others (paying more attention to the trend, for example) can take my work further and achieve great success! Thats why i went public with my methods.

quote:

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Originally posted by einstein

Thanks Kool. I understand what you are saying. I am trying to use your technique but apply them to a 3min or 5 min chart. I prefer to trade less often during the day and to hold for somewhat longer gains. Also since I tend to trade with the trend this means only trading off 50% of the projections- for example if trend is strongly bullish, I should favor looking at price projections from a peak to estimate where to get in at support. Do you see any problem modifying your technique to accomplish this or I am just off in left field?

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i think you are making fine progress friend, and this sounds very wise! All of you need to understand, the reason i post all of my trades is for others trying to learn the process. Many of my trades are admittedly not what a more skilled or discriminating trader might consider. But i post them anyway, win or lose so others can follow and try to at least see what i was looking at ... doesnt mean it was a good trade to take ,necessarily!Again ,if just an average trader like myself, can succeed because the cycles and projections keep me out of big trouble most of the time, imagine what someone more disciplined can accomplish!

quote:

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Originally posted by koolblue

quote:

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Originally posted by Maria

copied from friday-s thread since it's same topic more or less than einstein's:

"
Hi Kool. Interesting method of time and price.

I was wondering if you do use your cycle/price method for trading with the trend, and how do you climb on board in those cases. Or maybe today was unusual day for going against the trend?.

Thanks
"
Maria

ps: I think it was really amazing seeing you making so many points last friday shorting the spots against the trend. Really the price seems to stop/bounce at your spots.

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I think the fact that i made some money going completely against the main trend is testament to the power of the price projection method when used correctly! Simply put , i dont know of any other method of technical analysis that even comes close to being able to do that. Having said that, imagine how much more could have been made trading with the trend! Ive stated before ,and still believe im really not that good of a trader! truth be told ,there are several ,more skilled than i ,at this very forum! I believe others (paying more attention to the trend, for example) can take my work further and achieve great success! Thats why i went public with my methods. Maria, the best example i could give was back in oct.during the crash ,i once made over 20 handles BUYING all day during a 500 point down day! LOL I certainly wouldnt advise this ,of course,but would urge others to learn the techniques put out by VO, P.T. and myself,so they may be applied by others in conjunction with their own already existing tools and risk parameters!

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pt emini that was a great explanation it made everything click... thank you