Yesterday we talked about this idea of looking for measured pullbacks in the trending market. Today, on the 3m ER chart, there was a number of these measured pullbacks....or symmetry, as you can see.
As we find these areas of symmetry.....we "THEN GO TO OUR INDICATORS"....remember the cart before horse thing? It's there that we find a CCI 50/9 ZLR along with a pullback in the stoch.....when the turbo (9) crosses over the -100 line and the price.....remember, price must confirm...so if the price takes out the high of the setup bar (for a long) without taking out the low of the setup bar........we are long.
Seems simple to me, but you might have to wait awhile for it to setup correctly and that alone could be a problem......RIGHT?????
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1 comment:
Dennis,
I was looking for the symm. in the market yesterday too but did not see it. I'm trying to train my mind to see it..... but I did take that trade at the end of the day. :)
MarioM
PS. the house is looking amazing!
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