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Worden Discussion Forum » General Discussions » Stock and Market Talk » Reverse Crowbar? PCLN

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wwrightjuly4
Posted : Tuesday, December 22, 2009 7:36:47 PM
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Joined: 4/10/2006
Posts: 954
Does Reverse Crowbar succeed?



pcln
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tobydad
Posted : Tuesday, December 22, 2009 10:28:00 PM

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Joined: 10/7/2004
Posts: 2,181
 Oh, absolutely! And you have the perfect set-up there: the stick-of-dynamite candle back on day 4, then the successively higher lows of day for the next 3 days and culminating with today's doji still below the LR30. Perfecto! 
When I get one like this, I just use the reverse buy (or sell) strategy; in this case, .01 below the low of the previous day and adjust each day as the low of day climbs. It's the best combination of safety and aggressiveness I have found for the non-intraday trader. 
Nice job.
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thekubiaks
Posted : Wednesday, December 23, 2009 12:33:06 PM
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Joined: 2/13/2005
Posts: 368

I see how this could work well, come up with a "Tobydad" scan daily list for Long days as well as Short days.  Then make a pre-market determination of the direction of the market and run the appropriate list.  If you run the Short list but the market takes off higher, the Short list candidates probably won't trigger anyway because of the Entry Rule (Buy on High of previous day + a nickel).

Back to testing..... Thanks and Happy Holidays!!!!
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