Trading ABC, part 2


  • 1
  • einstein
  • 5-Jan-2009 at 6:12 PM
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Aside from the standard way of waiting for a break above the B or #2 point, how do you scalpers enter at a slightly better price?
  • 1
  • VOwater
  • 23-Jan-2009 at 7:04 PM
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  • VOwater
  • 26-Jan-2009 at 7:35 PM
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  • VOwater
  • 1-Feb-2009 at 10:37 AM
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  • 1
  • pt_emini
  • 1-Feb-2009 at 5:51 PM
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For the separation between points B and C, do you look for a minimum number of candles ?
  • 1
  • VOwater
  • 1-Feb-2009 at 9:29 PM
  • Rep: 133
  • Posts: 4,121
quote:
Originally posted by pt_emini

For the separation between points B and C, do you look for a minimum number of candles ?

hmmm...well PT I guess that it will need to be at minimum 3 candles because I will need 1 for a higher/lower close for entry and 1 for a trigger candle. Otherwise your entry will be above the B point. Hadnt really considered the number of candles from B to C just the % retrace. For those true fib traders they like to see at least 8 total candles. Thats at least 8 from A-C. It will be the exception not the rule that you see just 3.
  • 1
  • pashalv
  • 9-Feb-2009 at 6:43 AM
  • Rep: 20
  • Posts: 38
VO, how do you decide where to put stops? Sometime you use C point for stop, another time you use a trigger bar.
  • 1
  • VOwater
  • 9-Feb-2009 at 7:21 AM
  • Rep: 133
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pashalv...I always use C point as stop because C point will always be trigger bar. Sometimes other bars will have same low/high as trigger bar. All you need to remember to do is look for the lowest low/highest high bar and that will be your C point, which means that it will be your your trigger bar. Your entry bar will be a CLOSE above/below the low/high of trigger bar.
  • 0
  • pashalv
  • 9-Feb-2009 at 7:40 AM
  • Rep: 20
  • Posts: 38
Thank you, VO!
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