Technical Templates Continued

I saw a couple of references to it here & there on 3 Ducks as I read through it but didn’t really pay it much attention.
So it’s a sort of early bird entry option.

Presumably, instead of waiting for the most recent 5 min highs to be taken out today on NZDUSD & AUDUSD, the alternative long entry would be the hooks at 0.8345 & 1.0460 at the start of the London session?

That’s the general idea yes.
They’re both momentum approaches, but whereas the traditional 3 ducks set up is presented as a breakout continuation trigger, the hook offers a pullback continuation option.

It can also be used as a dual trigger by matching pullbacks that hook up or down the 60/15min timeframes at the same time.
But you would need to check out whether or not it offers you a potentially higher probability bet based on your risk appetite & trading objectives.

Hello.
Are you guys referring to specific entry rules above ?

I have been reading some of these threads (TT and 3Ducks) with interest. As far as I can work out from my reading so far they are both multi-tf approaches so they apply the mantra “always trade with the dominant trend”. The threeducks has its own view on how to determine the dominant trend thru the 3 different timeframes and a simple momentum based entry on the 5min. The techTemplates approach is more support-resistance (or say supply-demand) related and takes into account weekly and daily levels and how price reacts to these levels to reach a decision on how to approach a trade. And the entry mechanism is different for different people e…g 1-2-3, Stoch hook, IB or whatever.

Would that be a fair assessment ?
And if so, on the face of it, you could construct a model combining the two approaches, taking bits from each which sit easier with a person’s psychology/view of reading the market. Maybe people have already done that…I haven’t read thru all the threads yet (it’s quite a long process), so I might not have reached postings which do this.

Thanks.

(P.S > haven’t visited babypips for ages…so only a recent poster…like the forum)

No. Entries & exits are, & always should be tailored to your own particular preferences.

Correct.
The approach presented later in the thread is a simple plug in & play structure or framework from which to avail oneself of short-medium range momentum based market activity.

The early stuff did indeed reference support & resistance but they dropped it completely as the discretionary option evolved, preferring to advise a more simplified, slim-line momentum style approach.

The levels however continue to play a pivotal role in the discretionary model.
As with anything betting related, folks are of course free to utilize whatever floats their boat.

One or two have yeah.
The current format is discussed in a very informal setting here; 301 Moved Permanently

Thanks for update. Will check it out.

To add to what Alt Tab said, the various threads in the ATT stream evolved over several years depending on the audience, questions and participants.

Support and Resistance was a core part of the beginning comments and the most important take-away from the discussion was that location was a key part of the template. Taking a trade through or from a level presented better risk and return opportunities than playing the middle of a range, at least for those who were using that template.

3 Ducks in its purest form doesn’t consider location or S+R but if you find adding it into the template gives you a positive outcome that meets your risk criteria and trade objectives then go for it. Like all filters or elements you add to a template, there will be trade off which you need to assess in line with how you intend to approach the market - short visits or multi-handle trend plays, close or loose risk, etc. There’s no right answer or magic bullet here or in the threads, as what suits one person may not have a positive outcome for another.

Certainly both the pure S+R plays and 3 Ducks continue to be profitable templates to use for me.

they did indeed & still do Matt, as you’re testement to.
but that’s the beauty & one of the key advantages of running a low maintenance set up, especially & particularly a discretionary one.

the fewer moving parts the better & if it possesses a strong engine room or core element such as directional momentum for instance, you’ll always be well prepared when markets either contract or expand for lengthy periods of time, which they always do at some point.

so instead of binning an approach & starting over, flitting like a butterfly from one low probability method to another or trying to reinvent the wheel for the umpteenth time, simply keep adjusting your sights & scopes to suit the current environment on your chosen asset class.

Hi all,

Thank you everyone for the great material shared here. I hope someone can point me in the right direction if possible. I’ve been reading Carll’s posts regarding the stochastic hook and I still don’t get where entries are to be placed.

Say for example that last Friday’s London Session conditions had lined up for long orders in the EUR/USD (directional bias, sufficient weekly and daily ranges left, levels of interest at play, etc), and then you had the hook like the one in the below chart, where would you pull the trigger? Is this done at the breakout of point 2 at 1.1270? Or right after the formation of point 3 at 1.1260 for instance?

Thanks for reading and for the feedback.