Apologies for the multi post, i feel it bears reminding (particularly for newer participants in the markets), it can be difficult to contain your emotions during exuberant moves such as these.
This chart is the keltner setup, we are currently at the 3rd ATR, this roughly represents a std deviation of around 3, on a normal distribution (i understand these are not perfect metrics, complexity vs normal distribution is a valid argument), this represents a very, very abnormal move to the upside, so much so that it only has an occurrence of 0.135% of the time.
So be patient and wait for a move (at least) into the shaded purple area (1 measure of the ATR/ AKA mean reversion) before thinking about entering. This strategy alone will VASTLY increase your profitability
This chart is the keltner setup, we are currently at the 3rd ATR, this roughly represents a std deviation of around 3, on a normal distribution (i understand these are not perfect metrics, complexity vs normal distribution is a valid argument), this represents a very, very abnormal move to the upside, so much so that it only has an occurrence of 0.135% of the time.
So be patient and wait for a move (at least) into the shaded purple area (1 measure of the ATR/ AKA mean reversion) before thinking about entering. This strategy alone will VASTLY increase your profitability
