FTM: After Further Consideration Long Swing Still Open
Hi Everyone! After further investigation in historical price data with my indicators, I've determined I should change the requirement for the level of the Red Line in my proprietary indicator from greater than level 20 to greater than level 10 for the 4-Day, 5-Day, 6-Day and 1-Week. I'm leaving the requirement at greater than 20 for a long position in the 3-Day and lower time frames.
Currently, the 8-hour is the highest time frame in which my Red Line is above level 70. Which means the 8-hour is being used "currently" as the time frame to "close" this long swing position if conditions are met to close using the 8-hour.
I currently have alerts setup on my strategy. If I get an alert to close this swing position, I'll let you know.
Happy Trading and Stay Awesome!
David
Currently, the 8-hour is the highest time frame in which my Red Line is above level 70. Which means the 8-hour is being used "currently" as the time frame to "close" this long swing position if conditions are met to close using the 8-hour.
I currently have alerts setup on my strategy. If I get an alert to close this swing position, I'll let you know.
Happy Trading and Stay Awesome!
David
Comment:
UPDATE:
The 24-hour is getting super close to meeting closing conditions for PARXCES indicator. Here's the 24-hour:
Red Line in 2-Day still has a lot of work to do to get above White Level 70 to take over our closing conditions. Red Line in 2-Day is currently at Level 43.89.
What does this mean? We may have to close the "swing" trade soon . Let's see if closing conditions are met in the 24-hour before jumping to conclusions.
The 24-hour is getting super close to meeting closing conditions for PARXCES indicator. Here's the 24-hour:
Red Line in 2-Day still has a lot of work to do to get above White Level 70 to take over our closing conditions. Red Line in 2-Day is currently at Level 43.89.
What does this mean? We may have to close the "swing" trade soon . Let's see if closing conditions are met in the 24-hour before jumping to conclusions.
Comment:
UPDATE:
Here is the Immediate Group (30s, 1m, 2m, 5m, 10m, 15m, 20m & 25m): It's trying to make a recovery but we'll see...
Here is the Immediate Group (30s, 1m, 2m, 5m, 10m, 15m, 20m & 25m): It's trying to make a recovery but we'll see...
Comment:
UPDATE:
FTM LONG HAS BEEN CLOSED TO BE ON SAFE SIDE.
FTM LONG HAS BEEN CLOSED TO BE ON SAFE SIDE.
The Red Line for PARXCES indicator has moved up above White Level 70 on the new 12-hour candle. This indicates we use the 12-hour for closing now. Green Line - and - Yellow Energy falling "below" Yellow Level 50 would mean closing conditions are met. However, this has not occurred yet. Let's see if the Red Line the next 24-hour candle can cross above White Level 70 before closing conditions are met in the 12-hour time frame.
Here is the 12-hour:
24-hour time frame is bottom left of center. The Red Line in the 24-hour is currently at level 64.6. This is not high enough just yet to allow us to use the Green Line and Yellow Energy in the 24-hour to close this long position if closing conditions are met.