Pivot and TICK high setup

[Soultrader 12]

Here is a chart post of one interesting setup. I usually take this setup but I was short from the value high pivot and did not get in on this play.

 

This is one of my classic setups; after a downtred or uptrend, I watch for TICK's to make a new high or low. Then I will enter a long on the next pullback or a short on the next retracement. In this chart, a new TICK high was made and prices pulled back to the daily pivot. This is a good long signal. Price then lifted towards the value high pivot.

[Guest FLX]

$tick is only used on the YM or can you use it on the russell 2000. Mike

[Soultrader 12]

I personally have alot of my trading setups based on the TICK for the YM. However, I do use it to judge internals when trading the Russell as well. Im still new to the ER2 so I'll need some more observation to judge correctly.

 

However, there was an interesting setup on the ER2 the other day. Notice the chart below:

 

 

The chart shows a strategy based on TICK. The basic concept is that in an uptrend, an extreme reading of +1000 or more indicates strength and a continuation of the trend. Price will usually pop for another move. My entry signal is usually on a price pullback after an extreme +1000 reading with timing on a TICK hook.