Median line has held support and price has consolidated since oct 2014 and after a retest of the
3rd quartile of this well defined Andrew's Pitchfork, and the Monthly PP (failing to reach the Yearly
PP) price has returned right back down.
The DC55 (11 week price channel High/Low) has seen two false breakouts (in mid Nov and mid Dec).
If a new low is created yet again, the difference will be that the top of the DC55 has been tested and
held resistance, which will give a strong bias to the next breakout if it happens.
Currently Monthly S1 has held support. Feb 10 there was also a bearish Kumo Breakout Signal, which
adds to bearish continuation bias.
Entry could be set to the channel low or a retest of 1203 low or lower Kumocloud.
Applying trendfollowing rules on a DC55 breakout, use 2 ATR20 SL
and trail it with 1ATR20. Pyramid Entries, equals the first in settings, every 1ATR20 move.
Maximum 5 total entries. Ideally, SL on entry orders should be modified with changing ATR20.
Riskmanagement if Pyramid positions use max 2% total risk exposure
3rd quartile of this well defined Andrew's Pitchfork, and the Monthly PP (failing to reach the Yearly
PP) price has returned right back down.
The DC55 (11 week price channel High/Low) has seen two false breakouts (in mid Nov and mid Dec).
If a new low is created yet again, the difference will be that the top of the DC55 has been tested and
held resistance, which will give a strong bias to the next breakout if it happens.
Currently Monthly S1 has held support. Feb 10 there was also a bearish Kumo Breakout Signal, which
adds to bearish continuation bias.
Entry could be set to the channel low or a retest of 1203 low or lower Kumocloud.
Applying trendfollowing rules on a DC55 breakout, use 2 ATR20 SL
and trail it with 1ATR20. Pyramid Entries, equals the first in settings, every 1ATR20 move.
Maximum 5 total entries. Ideally, SL on entry orders should be modified with changing ATR20.
Riskmanagement if Pyramid positions use max 2% total risk exposure