Plan the Trade
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Thread: Plan the Trade

  1. #1
    Someone else has already begun a 'Trade the Plan' thread, so I have shortened my favorite title!

    I'm combining a few systems, therefore I will try to explain as I go along, instead of listing all criteria here from the name.

    I'm basing my trading system on a style I learnt by an brilliant trader with the handle 'Divergence'. He selflessly shares this technique on a thread under 'Trading Systems' whereas, I wanted to start a thread, I thought I would list it under 'Traders Journals' instead.

    I shall incorporate some Elliott Wave work in my style.

    2 of the primary variants I will be searching for are the following;

    Primarily a Cup Manage or Head Shoulders set up, which can be as trend change or trend continuation (following a pullback). I believe that it is self explanatory.
    The second is a pullback within trend, followed by a 123 or a flagline, (but preferably both). The 123 may be utilized back into trend. Looking for divergence in both cases will be important. Regular together with the first and Hidden divergence for trend continuation.

    1) Ascertain a trend (HH/HL or LL/LH's)
    2) Wait for a pullback
    3) Enter back into main trend with a 123
    4) Manage trade

  2. #2
    Quote Originally Posted by ;
    quote sometimes you only need to nickel and dime it
    If I was in the frame of mind to just grab today, I could have cleaned up... so many 8's/10's that I have let slip...

    Still, I have managed to make a reasonable complete albeit with lots of comms to permit for;

  3. #3
    Quote Originally Posted by ;
    Bingo 20
    where did you get your 20 H?

  4. #4
    . .in a downtrend I have always utilized 123's using 1 as a high..not it really matters in this circumstance.

  5. #5

  6. #6
    Nice summary. Having the confidence and ability to place trade the setups in real time without emotion (too much anyway) is key.
    Something we are all striving for (besides H of course!)

  7. #7
    Pushes had more follow-thru today than yesterday it seems

  8. #8

  9. #9

  10. #10
    Quote Originally Posted by ;
    Lot of 1s again, two -15s, taking a look at the other one it appears that the opposite of the one I posted earlier. Pullback to thrust bar trade ought to have been voided, fairly sure this may be thought of a 2b... image
    Thought that a 2b would be at the end of a trend

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