3DP odds table and cycle questions

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  • October 30, 2015 at 10:37 am #205787
    irza
    Member

    Hi

    Today posted a few questions in the real time chat. Re-posting them in here hoping for a detailed explanation how to best use the real time cycles and 3DP odd sheets.

    irza: i got a question about the 3DP odds table
    irza: http://i.imgur.com/fTkY6Cp.png
    irza: so using the table above, for today, we making a new HHs or a higher Close based on 30 minute TF first bar of the day?

    irza: what do the dots mean? some dots are bigger than others. The bigger the dot, the more significant? More weight?
    irza: http://i.imgur.com/9QCCrW3.png

    irza: http://i.imgur.com/LisVWxz.png
    irza: R1 77%, PP 70% and PH 80%. Do you use is as targets where price can tag them OR can you use them as area of support/resistance? Example, price is trading below R1, so when price tags R1, 77% odds that it will hold for say at least a 2 pt reaction?
    irza: The stated # of occurrences pertain to which data set?
    irza: what would be the recommended # of occurrances to make it significant? 200+?


    thank you

    November 2, 2015 at 5:46 pm #206427
    Lawrence
    Keymaster

    1. Yes to first question about 3DP report.
    Check out the online help page,
    https://www.daytradingbias.com/?page_id=2287

    2. Those dots highlight the turning points on the chart based on the different cycles. Bigger dots coming from Long Term (LT) cycle. Just look down vertically you will see that the dots line up when the color changes for the different cycles.
    The online help page for intraday cycle,
    https://www.daytradingbias.com/?page_id=2286

    3. On price levels – you cannot depend on the price levels by themselves for expected reactions (e.g. 2 pt pullback). Usually you need a cluster of price levels line up together to get that type of effects. On a normal day, where the rare events have not occurred, the price levels with high probability will likely be tagged during the day hence you can lean on the statistics to hang on for as long as you can based on your risk tolerance until the high prob price level is tagged.

    More online help files are listed in the vertical menu on the left in the premium section.

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