woodiecci的ghost形态分析.

1、May 2009 ? Volume 3, No. 5 FUTURES STRATEGY:Short-term CCI p. 10 ADJUSTING TO stock index futures shift p. 14STRADDLES, STRANGLES, and volatilit yp. 16FEAR AND LOATHINGin the op tio ns market p. 20TRADING IRON CONDORS in volatile markets p. 22FUTURES, OP TIONS volume dow n,not out p. 24 I I The CCI

2、ghost A well-k nown chart p atter n gets put to a new use whe n app lied to a little-used in dicator, result ing in trade set ups that jump out whe n you least expect them. BY KEN WOOD Note: Aversi on of this article origi nally app eared in the May 2004 issueof Active Tradermagaz ine. f asked, most

3、 people would likely say they ve neverseen a ghost. And chances are, the majority of traderswould p robably give the same res ponse whe n asked ifthey traded the Commodity Channel In dex (CCI.However, spotting a p attern in the CCI called the “ ghost ”can alert you to favorable trade opportunities.

4、The setup iseasy to identify and s name is a reference appears regularly two helpful fac- tors for all traders. The pattern Boo” when price itself iscommunicating very little to itstendency tojump out and yell about what the market will do. Infact, the ghost pattern is so well defined you can base t

5、radeson it without having to directly consult price action. For those people unfamiliar with the CCI, this indicatoressentially is an oscillator (a tool designed to highlight over-bought or oversold conditions that measures the differencebetween the current price and the average price over agiven pe

6、riod. However, CCI background ” the CCI uses unique calculations todfeine these aspects of price. explainsthe indicator in detail. The ghost pattern is one of several CCI trading patternsthat evolved from years of trading and watching the mar-kets. The following identification and trading guidelines

7、reflect firsthand use of this indicator. Pattern characteristics and trade management The CCI ghost is the indicator equivalent of the head-and-shoulders price pattern, which is a reversal formation con-sisting of three peaks (at a market top the highest peakin the middle being the shoulders (see Fi

8、gure 1. Amove below the head” and the two lower peaks oneither side of it being the neckline ” (a trendline connecting the shoulderlows is typically used to trigger a short trade or sale. Figures 2-6 show various intraday charts accompanied by14-bar CCIs containing ghost patterns. Although the patte

9、rnsin these figures form above or near the zero line, many formaround +100/-100 as well. Like the head-and-shoulders pricepattern, the entry 10 and a Ion gtrade is referred to as an sig nal for a trade is a breik of the ghost sn eckli ne. Aghost that sig nals an up side reversal “inv erted ghost.” Figure 2 shows a bearish ghost p atter n on a three-minu techart that sig naled a short trade whe n the in dicatordr opped below the n eckli ne (and almost simulta neously May 200