[elovemer]

....Dogpile..... 10-4 come back.... .let's get this thread going again....


Quote:
Dogpile
View Post

This thread is to discuss the 'count' of the Taylor Trading Technique. For those unfamiliar, you can read about it in George Taylors book or in Linda Rashkes 'Street Smarts' book - Chapter 7 & 8.

Rather than discus the technique broadly, which is somewhat complex -- let's just dive into present-day conditions and decide what day we are on and why we think so...

[elovemer]

Dogpile.... where you at ?

[mitsubishi]

Just downloaded a copy of ttt and it is very badly written and hard going.I want to persevere with the concept though as it fits in very well with how i believe markets work.Somebody really should lay out this concept in a much condensed form with clear diagrams.But your suggestion of relating it to the market going forward would really help me pick this up quicker so i hope you don't mind me joining in here as a newcomer to this forum.
To get the ball rollin' i guess todays rally was a buy day,and that the cycle might be extended beyond the normal 3 days? Today was a 'gap up and go' and was easy to spot early on.I would think that not as many shorts are trapped as you might normally assume for 2 reasons (1) many bears must have got increasingly nervous as the recent selloff looked over extended with the vix not showing panic and no real news, (2) fridays strong close off the 666.7 low,was an early warning for bears to cover.

[elovemer]

... an ideal buy day is a low made first.... with a high made last....
... an ideal short day is a high made first which penetrates the high of the 2nd day of the cycle.... if an uptrend....
----------------------------------------
.... in a downtrend.... an ideal sell day is a high made first... with a low made last....
.... and an ideal buy day is a low made first which penetrates the low of the 2nd day of the cycle... if a downtrend....

... depending.... the cycle could be only 3 days... or more than 3 days....

Originally Posted by mitsubishi »

Just downloaded a copy of ttt .

[richbois]

Originally Posted by mitsubishi »

Just downloaded a copy of ttt and it is very badly written and hard going.I want to persevere with the concept though as it fits in very well with how i believe markets work.Somebody really should lay out this concept in a much condensed form with clear diagrams.But your suggestion of relating it to the market going forward would really help me pick this up quicker so i hope you don't mind me joining in here as a newcomer to this forum.
To get the ball rollin' i guess todays rally was a buy day,and that the cycle might be extended beyond the normal 3 days? Today was a 'gap up and go' and was easy to spot early on.I would think that not as many shorts are trapped as you might normally assume for 2 reasons (1) many bears must have got increasingly nervous as the recent selloff looked over extended with the vix not showing panic and no real news, (2) fridays strong close off the 666.7 low,was an early warning for bears to cover.

I must agree with you that Taylor had a great mind, but a terrible writer.

I did a short recap of his book which is available through my website.

There also must be a reason why no one has ever rewritten his book. Probably the manipulators don't want everybody to understand how they move the markets. Others wrote how they modified the method to the way they understand and adapted their trading to the principle.

I had Monday as a Buy day. On Buy days we need to get a decline from the SS day high. Since we had closed near the highs on Friday the decline had to take place on Monday. On Sell days we need a rally from the Buy day low. That is exactly what we got on Tuesday.

Rich@taylortradingtechniq ue.net

www.taylortradingtechnique.net

[mitsubishi]

Today how i am seeing it- a perfect sell setup, sell the early high which is a violation of tuesday high and just short of the elliot wave resistance 734.Cover at mid day towards elliot support 717.Buy at mid day,hold until 2.30/3pm and possibly sell into close if resistance looks like holding or we cant make it that far (signs of weakness at the highs). I am also mindfull of the 4 day pattern cycle. If you look at last tuesday we are repeating that pattern (4 day cycle counts weekends) With these patterns,you have to bear in mind that sometimes they invert-appear upside down but today so far looks the same as last time. I really believe that time is as big a factor as price so i look for repeating patterns and for the intraday chart to form A and V shapes except for strong trending days (like yesterday)

[mitsubishi]

Since today is a sell short,i am going to pass on re-entering long until thurs it's safer! besides being on the shortside more often in a bear feels better,though bear rallies can be very strong- anyone think this one has got legs?

[mitsubishi]

Looking at todays action and comparing to my earlier post,not too shabby.First, the morning high was close enough to 734 resistance.Then in the selloff we were looking for 717 support around mid day.The actual low was 714 but came later at 2.30pm (mid day was around 718) ,Based on the 4 day repeating pattern,we were looking for a V shape reversal which we got,taking us to 728 and closing at 721.3 I decided not to buy the reversal,maybe should not have second guessed my original plan! Today was, according to taylor,a short sale day,so a buy day is due tomorrow. A good setup for this is if the futures drop tonight to buy,looking to close on a recovery back to tonights close in the morning.Or look for 'low made first' and buy there. Incidently,something else i use in my trading is 'rule of ten' (r10) Todays high 731.9, the close 721.3. Going into thurs with r10,possible lows would be 711 or working from todays low (714) 704. The next pattern in the cycle should look like last weds, on that day the low was the open,uptrend all day,high at 3.30,dropping into the close.That fits well with a buy day and puts more weight on buying the futures tonight.(remember though that the patterns can invert)But hey,i'm more interested in reading what you guys think,rather than me babbling on for 3 posts in a row!