WEAK SELL SIGNAL: If Price is closing above Purple Phantom PRZ during bullish impulse, then likely a bullish impulse continuation is to take place.
STRONG SELL SIGNAL: If Price is failing to close above Purple Phantom PRZ Line after a bullish impulse, then look to hedge the short, or to take up a short position.
Bearish Impulse:
WEAK BUY SIGNAL: If Price is closing below Green Phantom PRZ line, after a bearish impulse, then maintain short position. STRONG BUY SIGNAL: Once Price starts closing above Green Phantom PRZ line, look to hedge a long against a short, take profit the short, or net long the asset.
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Bullish impulse moves closing above the midlines on larger time frames, 1hr+ are sustainable. Hence a net long position is preferred.
Bearish impulse moves closing below the midlines on larger time frames are sustainable, and hence a net short position is preferred.
Rejection at Midlines, during a bullish impulse, is bearish: -Entering a short position or profit-taking current long is advised. -A net-long trader not wanting to profit take their long can hedge an equal sized short there.
Rejection at Midlines, during a bearish impulse, could signal trend change: -A net-short trader should hedge a long position against their short. -A net-long trader can add to their long on the second or third bounce
Continued rejection at midline, one should take up a net position in the direction of which the chart is rejecting.
Release Notes
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FEB 2020 UPDATE: - New smarter colors at the midlines indicate if price action is looking more bearish or bullish
Release Notes
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Now you can set alerts on Phantoms signals.
Release Notes
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Inner rejection lines have been renamed, Inner Rejection 1 Inner Rejection 2