We were looking for a re-entry signal on our last XRP post, but that didn’t come. In stead we got stopped out and the indicator signalled a new long setup. For those who have access to the indicator: the daily is on a long setup too, so that is the setup to follow. The daily chart
is below. \u2028This is a nice example of how the indicator gives you the trend signals. We get a 4HR trend setup at (1), which triggers us long. We re-enter at (2), and may take (partial) profits from the overextension signal at (3). Price then hits our trailing stop at (4), and we’re out of this 4HR trade. We now get a trend setup on the daily. The 4HR chart has given us the short term trend into
the daily trend setup. The 4HR setup that is plotted here can be triggered, but the daily can fail. We want to enter this daily trend here, so that is the setup breakout will will be looking for!
If you want to try the indicator out just drop
a comment! You’ll have until the 14th of November to give it a try!
For more information on the indicator and where to find the manual see below!