1. Pound is a long on the weekly time frame 2. It has been making higher swing lows 3. It is in a squeeze situation on the Alley gator 4. Buy Stop @ 1.5691 Fractal 5. Set stop under blue alley-gator line when trade is filled. 6. This trade based on daily time frame 7. In buy zone on both oscillators
I don't like the closed jaws, but yes, could possibly work.
paulyberndt
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because this is a momentum based trade system Bill Williams in his books highlights this as one of the better trade setups. You will often catch the beginning of the trend and you are buying at squeeze setup, or low rent district as he describes it. Often I find price will take out the fractal and then go back retest the jaw line and then make its move. Its not 100% like anything but it is his rules will see what happens
IvanLabrie
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I see, I prefer his 1st edition material in general, but I do reckon the 2nd edition has some valuable insights.
IvanLabrie
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I entered here, looks like your setup will work. (I'm long gbpusd and short audusd, to capture this potential spread widening situation)