NZDUSD: HIGHER LOW MAJOR TREND REVERSAL...?
I just woke from bed, and this setup jumps @ me.
Tis looking like a 'HL MTR'
I shall develop the idea soon
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.
Tis looking like a 'HL MTR'
I shall develop the idea soon
Definitions
_______________________________________________________________________________________________________________________________________________________________________________
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)
_________________________________________________________________________________________________________________________________________________________________________
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.
Comment:
Clean Buy !https://s3.amazonaws.com/tradingview/snapshots/f/FqXtkfOZ.png
Comment:
Close is close enough!
The profit was gud!
Can we doit again....?
From pole to pole >^_^<
s3.amazonaws.com/tra...shots/8/8m6Ys82V.png
The profit was gud!
Can we doit again....?
From pole to pole >^_^<
s3.amazonaws.com/tra...shots/8/8m6Ys82V.png
Comment:
KEEP CALM. and keep making money ;)
Comment:
NZDUSD: This has been an observation following a long time experience: Ïf I'm really serious bout taking money out of the markets to help pay my bills, then I'll define my setups correctly, and define my signals rightly for entries. Now, a lost trade upon 1st signal, is not equal to giving up on the instrument. It means the signals was wrong. or not yet in. But guess what, The setup is still right and tight. s3.amazonaws.com/tra...shots/5/5uuR0mTx.png
Comment:
We need signal to short. Lest 4get it! s3.amazonaws.com/tra...shots/g/glksv54H.png
Comment:
NZDUSD_Daily: 3 pushes down = bullflag = BOL = Long to testing of BX, possibly. (***improper labelling on chart, due to speed*** ) s3.amazonaws.com/tra...shots/m/MsWfQpOs.png
Comment:
There we go! s3.amazonaws.com/tra...shots/3/3kzWzpZS.png
Comment:
Then.......
s3.amazonaws.com/tra...shots/p/PJvxwiEl.png
Now........
s3.amazonaws.com/tra...shots/n/NaKfXGpC.png
A solid conviction above BOL would be great!