AI
Friday, January 01, 2016 1:47:10 PM
Timing, timing, timing,... with that said was just tinkering around with a day trading template. (Have not used this before)
Would like your opinion or if you see any discrepancies, please interject
I guess part of the idea is to identify false signals and timely exits
At first glance seems to be late or only confirmatory to yesterdays actual trade points which were apx 10:40 hammer candle (don't remember exactly) for bottom bounce reversal and spinning top/gap fill candle of about 12:45 for breakdown.
Two solid signals, one long one short
Also one false buy signal using this template at the 1:45 head fake which whipsawed into a second sell signal
Described in the following order as occurred;
Buy signal:
(early) 9.,3, 3 stochastics coming out of OS, db divergence, and break of triangle
The following are synchronous:
Wm%R upside breach of -80
Upside aroon cross at 30 elevation (cardinal elevation)
Price close above 13ma
Stochastics cross of midline elevation
Sell or short signal:
Stokes coming from OB then the following synchronous event (or within one bar):
Wm%R downside breach of -20
Downside aroon cross at 70 elevation
Price close below 13ma
Stochastics cross down of midline elevation
False buy or long signal: (I'll try and identify the missing components)
Stokes coming from OS
Price had stabilized off horizontal support and round number, 205 (would think this is a good reversal setup)
Events in synch:
*Williams never went fully OS but crosses midline
*Upside aroon cross ( a bar late and not exactly off 30 elevation)
Price closes above 13ma
Stochastics cross up of midline elevation
In review of this myself I know I do not have my bollinger bands involved here which if overlayed does shed a lot of light on the tops and bottoms. Common element (missing in the false signal) seems to be the aroon cross at the key elevations of 30 or 70 and not fully realizing OS in williams study. The other problem would have been sticking with the original short or sell from first signal. The inside candle around a lil after 1pm at 205 elevation spooked me in the first place.
Just looking to add to the tool box. In my quest for simplifying matters or becoming more accurate, I may have just complicated things, lol.
LMK your thoughts at your convenience
SPY 5 minute chart from 12/31
Would like your opinion or if you see any discrepancies, please interject
I guess part of the idea is to identify false signals and timely exits
At first glance seems to be late or only confirmatory to yesterdays actual trade points which were apx 10:40 hammer candle (don't remember exactly) for bottom bounce reversal and spinning top/gap fill candle of about 12:45 for breakdown.
Two solid signals, one long one short
Also one false buy signal using this template at the 1:45 head fake which whipsawed into a second sell signal
Described in the following order as occurred;
Buy signal:
(early) 9.,3, 3 stochastics coming out of OS, db divergence, and break of triangle
The following are synchronous:
Wm%R upside breach of -80
Upside aroon cross at 30 elevation (cardinal elevation)
Price close above 13ma
Stochastics cross of midline elevation
Sell or short signal:
Stokes coming from OB then the following synchronous event (or within one bar):
Wm%R downside breach of -20
Downside aroon cross at 70 elevation
Price close below 13ma
Stochastics cross down of midline elevation
False buy or long signal: (I'll try and identify the missing components)
Stokes coming from OS
Price had stabilized off horizontal support and round number, 205 (would think this is a good reversal setup)
Events in synch:
*Williams never went fully OS but crosses midline
*Upside aroon cross ( a bar late and not exactly off 30 elevation)
Price closes above 13ma
Stochastics cross up of midline elevation
In review of this myself I know I do not have my bollinger bands involved here which if overlayed does shed a lot of light on the tops and bottoms. Common element (missing in the false signal) seems to be the aroon cross at the key elevations of 30 or 70 and not fully realizing OS in williams study. The other problem would have been sticking with the original short or sell from first signal. The inside candle around a lil after 1pm at 205 elevation spooked me in the first place.
Just looking to add to the tool box. In my quest for simplifying matters or becoming more accurate, I may have just complicated things, lol.
LMK your thoughts at your convenience
SPY 5 minute chart from 12/31
