Compare & Contrast with Christopher Lewis
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SO THEN, THESE ARE YOUR MAJOR CONFIRMED TREND SIGNALS:
- When candlesticks are leading or following the slope of the eight-hour price range envelope at 0.25% deviation
- When candlesticks breach the one-hour forty-minute (1⅔-hours) price range envelope at 0.16% deviation.
- When candlesticks are leading the 34-minute price range envelope at 0.10% deviation
- When candlesticks are forming to the exterior of the proprietary dynamic/adjustable 20-mintute price range envelope at 0.05% deviation (not to mention the interior of the 50-minute temporal support/resistance channel)
If you're going to include the 75-minute price range envelope as well, it looks to me like you need to do it at about 0.14% deviation. (It's better than the 1⅔-hour envelope.)
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YET ANOTHER MAJOR CONFIRMED TREND SIGNAL...
When the slope of the 20-Minute baseline, as represented by the oscillator in the lower-panel histogram, is above 0.01152 or below -0.01152. (This is likely to correspond with candlesticks forming to the exterior of the proprietary dynamic/adjustable 20-mintute price range envelope at 0.05% deviation simultaneously with painting on the interior of the 50-minute temporal support/resistance channel.)
And don't forget to begin looking to use this entry-level strategy as described within the image in Post #641...
When the slope of the 20-Minute baseline, as represented by the oscillator in the lower-panel histogram, is above 0.01152 or below -0.01152. (This is likely to correspond with candlesticks forming to the exterior of the proprietary dynamic/adjustable 20-mintute price range envelope at 0.05% deviation simultaneously with painting on the interior of the 50-minute temporal support/resistance channel.)
And don't forget to begin looking to use this entry-level strategy as described within the image in Post #641...
Regarding the above strategy, first of all, the baseline was derived from a 2⅔-hour price range envelope. Not a 1⅔-hour price range envelope. (The figure quoted in Post #642 was off by an hour.) In any case, the baseline does an awful lot of "waffling" back and forth. This means there is significant danger that price might not regress toward the mean (i.e., execute a mean reversion) before the mean has climbed or fallen by a substantial amount, possibly leading to a loss.
However, if you slap a simple moving average envelope on the chart at double the measure (5⅓ hours) at 0.30% deviation, you get a more stable indicator highlighting entry levels that are more apt to lead to a profit before being stopped out--provided your target is the 2⅔-hour baseline or the far side of the 75-minute price range envelope at 0.14% deviation (as opposed to designating the 5⅓-hour baseline as your destination).
However, if you slap a simple moving average envelope on the chart at double the measure (5⅓ hours) at 0.30% deviation, you get a more stable indicator highlighting entry levels that are more apt to lead to a profit before being stopped out--provided your target is the 2⅔-hour baseline or the far side of the 75-minute price range envelope at 0.14% deviation (as opposed to designating the 5⅓-hour baseline as your destination).
OTHER SIGNIFICANT (SLOWER) PRICE RANGE ENVELOPES:
- The eight-hour SMA envelope at 0.45% deviation
- The 13-hour SMA envelope at 0.60% deviation
PREVIOUSLY MENTIONED (BUT RECENTLY OVERLOOKED) TREND SIGNAL:
It is a good indication of a strong intraday trend if the oscillator belonging to the lower-panel indicator associated with the four-hour baseline is above or below the 0.1172 or -0.1172 levels (on a one-hour chart) and also when candlesticks are having a hard time forming to the far/off side of the four-hour baseline.
(I want to mention here that though there is noting comparable to the proprietary dynamic/adjustable "interval" envelope on a one-hour chart, it is nonetheless approximated [rather poorly] by the three-hour SMA envelope at 0.30% deviation.)
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I should have been looking at where the pair evidenced a bunch of noise and congestions rather than all the way down at 1.3220...
WEEKLY PERSPECTIVE
USDJPY has seen its week-to-week trend turn south. However, at 138.12, it is already below its projected weekly price range with the last day of the week still remaining. Nonetheless, the last time it bounced off (was rejected by) statistical support in the form of the lower band of the 70-minute price range channel at 0.30% deviation, it wasn't able to bounce very high.
So then, is it still going lower? Well, given that it's essentially gone nowhere over the last 26 hours, I'm not sure...
I'd like to get in on the beginning of an extended run to the north, so perhaps if it manages to break out above 138.83 for more than a single hour, I'll give that a try.
USDJPY has seen its week-to-week trend turn south. However, at 138.12, it is already below its projected weekly price range with the last day of the week still remaining. Nonetheless, the last time it bounced off (was rejected by) statistical support in the form of the lower band of the 70-minute price range channel at 0.30% deviation, it wasn't able to bounce very high.
So then, is it still going lower? Well, given that it's essentially gone nowhere over the last 26 hours, I'm not sure...
I'd like to get in on the beginning of an extended run to the north, so perhaps if it manages to break out above 138.83 for more than a single hour, I'll give that a try.
USDJPY broke out below accumulation rather than above it. At this hour however, it is back up to the bottom of that same previous consolidation region of 138.20 through 138.83.
DAILY PERSPECTIVE
- AUDJPY bounced off of four-day "statistical support" two days ago.
- EURJPY did the same yesterday, so that its suspected transition from bearish to bullish is now confirmed and its four-day trend is once again in sync with its bullish 12- and 40-day price flow envelopes.
- GBPJPY looks to be in the process of being rejected by four-day statistical support as of today.
- USDJPY has been defying the four-day support level as it pushes south, except that so far today, it is forming a green daily candlestick.
- On the other hand, USDCHF continues to defy this level, pushing hard into the lower band(s) of the four-day price range envelope(s).
- 12 hours into the current 24-hour market cycle, AUDUSD is having difficulty defying the top of its projected four-day price range, and is still located near the day's open.
- On the other hand, EURUSD looks to be succeeding at pushing higher against this upper measure.
- Ditto for GBPUSD, though not quite as aggressively.