moorekapital

EURJPY: 2ND CHANCE BUY

FX:EURJPY   Euro / Japanese Yen
145 0 8
2nd Chance buy


8MONTHS AGO

Definitions
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UTL=UpTrendline = A line from the Lowest Low, upward and to the highest minor low point preceding the Highest High so that the line does not pass through prices in between
these two points.
DTL=DownTrendline = A line from the highest high point downward to the lowest minor high point preceding the lowest low so that the line does not pass through prices in between these two high points.
SX/BX =Sell Climax/Buy Climax
BO=Breakout
BOL=Breakout limit (Determined when price seize to make a new high/low in 5 bars since the last high/low following the initial rally/selloff after TL BO)
LH MTR = Lower High Major Trend Reversal = Leg up following the 'BOL' gets close to 'BX'
HH MTR=Higher High Major Trend Reversal = Leg up following the 'BOL' exceeds 'BX'
LLMTR = Lower Low Major Trend Reversal = Leg down following the 'BOL' exceeds 'SX'
HL MTR= Higher Low Major Trend Reversal =Legdown following the 'BOL' only gets close to 'SX'
TR = Trading Range (Tradable legs implied)
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The Logic
1. Trend trading until the weight of evidence tells of the absence of the trend.
2. And to trade the potential legs within the trading range, when price finally breaks the trendline , and enters into a tradable trading range, until there's a trading range breakout- continuation or reversal.



updating.............
Comment:
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Comment: Buy Now, if you missed buying the lows. NO TP. Just manage the trade, ma guy!

I think that if yu have found a logical way to manage trades........, then putting a far off TP , and cleverly managing the trade, bar by bar is a cool way to reek in loads of cash. Trends can last for time unending, and it definitley pays the clever.
Comment: NO TP
snapshot
Comment: Trade well managed = Taken out on BE stop.

I flipped to short on lower Timeframe in the spirit of NEO PA
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Comment: MM tARGET
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