The Idea-train is flowing today ,so let me write it as i get it...From an EW perspective, Markets have 2 primary MODES, Motive & CorrectiveLearn to use EW as a philosophy & now use SCIENCE to make the ART more Hi-prob.Digi. Signal Processing Maths & Radio Theory allow for mathematical segregation of the market in 2 modes1. Consolidation / Corrective --> HiFreQ noise2. Trending / Brkout-down --> Low FreQ DATAWhat we need is a MATHEMATICAL "FM Radio" ... One that Dynamically tunes out the Hi-FReQ Noise (whipsaw) & only plays the Low-FreQ Melody of TREND !Signal -to - Noise Ratio (SNR) : Low-FreQ TREND / Hi-FreQ Noise ...threshold for this ratio determines the % Quality of a Corrective ending & a new TREND EMERGINGThen our job reduces to search for PATTERNS (WW, EW, classic TA, harmonics), & OI behaviour that allow such a SNR trigger to generate a Hi-prob , Hi R:R, TRADE TRIGGERWork out ur ENTRY, place the ISL, know ur Tgts for Exit.. Pre-program it in ur head & then ExecuteScience + Art + Discipline + Arjun Focus --> Maketh a Trade Warrior :-)
Today market had to do it and did it in style.0 b tl of the flat corrective.has been broken in lesser time than c formed.Also today it belied the fact that a triangle was forming. It had given an early indication early on with a gap up and sharp upmove at the start of the present impulse.
As a suggestion to choosing a system Go with the one that responds to change in a tf which is suitable to ones temperament , time available, risk appetite.The more the system is in sync with price action the better.As the only thing constant is change
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Namaste Ilango Sir & Blogmates, Bullish: After a day of consolidation, the Bulls came back to move the index up by a percentage point and made sure that the base get cemented at lower levels, 7500CE writers still holding on...: Option Analysis for 05-06-2014Dedicated Option Open Interest BlogDuplicated at Wordpress SiteThanks & Regards,Sanjay Kr Jaiswal
Any gap up will be selling opportunity.