The Marks on the Charts

The marks on the charts are the bars where the criteria is met for one of the setups NOT TAKING INTO ACCOUNT THE CONTEXT. MarketDelta will mark EVERY bar where a pre-programmed condition is met. I am a discretionary trader. I exercise my discretion when I look at all the information, including the context. I also evaluate the trade at the close of every bar.

The marks are really useful, especially when you are a new trader or are looking at multiple markets as it draws my attention with a ding (next version of MD will allow better voice alerts). I can then decide whether there is a trade and whether to keep a better eye on that market.

How can you use this information on the chart? When the marker first appears, decide whether that is a trade or not. You can reverse engineer the things YOU would want to see for the setup to become a trade.

The attendees will get these as part of the training and I will show how to create them. This is not possible in the blog as it would take pages to try to explain. At the moment I am creating a training manual for this, which is where this information can be explained clearly. 

The chart below has these markers. Let's look at the setup marker "1". Here the 33EMA support was broken with the momentum of the 2 CCIs confirming the trade. VB and CVD had turned RED too. I'm not even mentioning the 45CCI divergence This was a trade. You can also see that there was in fact 2 setups signaled here. The next bar said one of the setups was still there and as a late entry I would have taken that. Now let's move to "2". Here, two setups were signaled at the same bar again. The signal was after a higher low, momentum had turned up according to the CCIs. Market action for Longs and Shorts tends to be different and this trade was one of those. We have had a good down move and buyers are nervous. That's reflected in the pullback after the entry. I could have waited until after the 45CCI crossed zero but would have given up a lot of my profit. The previous lows that held in the same area also gave me more confidence in the trade.

Now looking at the next chart below, there is a signal at "1". This trade would be rejected as it is very clear from the CCIs that there would be a probable pullback. This in fact happened at "2". The good thing about the methodology is that had I made an error and taken the trade at "1", I would have reversed at "2" without much of a loss.

Finally, today was more selling in the ES. I have marked all the major selling points. There was really no reason to cover until the price broke back up through 1151.75. There will probably be another selling opportunity. Support is at around 1146.00 and change.

 Done for the day, off to vote.