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The Ross Hook should be traded intraday on the breakout of the daily chart.
The market should be trending. The difference between the Ross Hook and the
1-2-3 formation (essentially a swing-low/swing-high) is that a Ross Hook
does not have to have a definitive high or low and only requires one
correction bar. The Ross major entries from the daily chart include:
1. The breakout of a trading range.
2. The breakout of a 1-2-3 high or low.
3. The breakout of a ledge.
4. The breakout of a Ross Hook.
In most cases, Ross recommends against trading a gap breakout.
While it doesn't fit my current trading strategy, I have traded the ledge
breakout successfully in all time frames.
JFB
Shaven Heads Trading
NYC
-----Original Message-----
From: Jim Johnson [mailto:jejohn@xxxxxxxxx]
Sent: Friday, December 29, 2000 11:38 AM
To: Piranhas R Us; omega-list@xxxxxxxxxx
Subject: Re: Ross Hook
Hello Piranhas,
attached--I got it from John Berentson and have never used it.
Best regards,
Jim
Friday, December 29, 2000, 10:46:15 AM, you wrote:
PRU> Has anyone coded Ross Hook?
PRU> =====
PRU> Julian
--
mailto:jejohn@xxxxxxxxx