TT appeared between 15/12/2020 to 12/1/2021 NHH above upper channel appeared on 28th April
TF: D 1. MACD Lines Entering Bottom 2. KC Price Drop Below Lower Line 3. MACD Histogram Bear Losing Power 4. Pullback 5. Impulse System Green or Hollow 6. All-Time High 7. Price Back to Blue Line/ Value Line (Entry Price)
Super curious about your system :) Just a newbie. If you have time can you help me understand..?
What qualifies as a 4) pullback? In this chart, is it the 5 candles that (roughly) close beneath the 2) price drop candle?
5) "Impulse System Green or Hollow" What's an 'impulse system'?
6) What is the purpose of noting the all time high?
7) rarely gets noted.. is this just a marker for the end of this strategy cycle?
What is TT / NHH?
Many thanks!!
Lubov
Hafizgill
⋅
Hi Lubov,
1. What qualifies as a pullback?
Very subjective and depending on your strategy. After the price drop to its lowest which in this case in area (3), the bulls and bears will jump in. The bulls will start to buy due to undervalue prices and the bears who believe the price will go lower will add to their short. In most cases, the bears will lose the battle and they need to go long (to buy) to cover their short; by doing this, they will even push the price higher as you can see in the area (4). So, the pullback that we are looking for usually will be a tall green candle, if it is not green, the next candle must be green.
2. What's an Impulse System?
Kind of like a censorship system. It did not tell me what to do, instead, it told me what not to do.
EMA rising & MACD-Histogram rising (especially below zero) = Impulse is green, bullish. Shorting prohibited, buying or standing aside permitted.
EMA falling & MACD-Histogram falling (especially above zero) = Impulse is red, bearish. Buying prohibited, shorting, or standing aside permitted.
EMA rising & MACD-Histogram falling = Impulse is white, neutral. Nothing is prohibited.
EMA falling & MACD-Histogram rising = Impulse is white, neutral. Nothing is prohibited.
3. Purpose of noting the All-Time High (ATH)?
The risk will be lower when our Take Profit (TP) is lower than the ATH since it does not need to break the strong resistance or the ATH.
4. Number 7 is our entry point. When the price return to its value price (inside the channel). I will set my entry point (entry price) based on the blue line price in areas (4) & (5).
5. When Double Top (DT) or Triple Top (TT) occurred, it is a sign of correction, the price will slide. Better wait for the New Higher High (NHH) to appear then only we find an entry point.
What qualifies as a 4) pullback? In this chart, is it the 5 candles that (roughly) close beneath the 2) price drop candle?
5) "Impulse System Green or Hollow" What's an 'impulse system'?
6) What is the purpose of noting the all time high?
7) rarely gets noted.. is this just a marker for the end of this strategy cycle?
What is TT / NHH?
Many thanks!!
Lubov