I'm going to change these terms to "intraday canal" and "local stream."
Compare & Contrast with Christopher Lewis
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At this point, for the purpose of communicating with any (current) partners or prop desk recruits (in the future), I will be using the following vocabulary (at least for the time being).
The intraday canal reflects the general overall direction that rates appear to ultimately be headed from a day trading perspective. It conveys the "gist" of where an asset might end up from a longer-term perspective (relatively speaking).
The local stream projects the zone, or "breadth of values" where price will more than likely find itself in the not-too-distant future.
The causeway tracks where candlesticks are headed in the now, conveying the immediate, almost linear path on which an asset has set its course.
The specifics in terms of the moves I make when trading will depend on whether I would categorize an asset as trending mildly, moderately or radically (or not at all). I will therefore be using the following vocabulary to label (distinguish between) these three types of price action.
A mildly trending currency pair:
A moderately trending currency pair:
A massively trending currency pair:
The measures on the lower panel on a five-minute chart would define the first category as any slope between -0.048364 and +0.048364.
Intermediate trends would fall between 0.048364 and 0.16545 if candlesticks are ascending, or the same numbers with negative signs if candlesticks are descending; and radical trends would be anything above 0.16545 or below -0.16545.
(The above measures pertain to the stream, or the 20-minute baseline and its corresponding price range envelopes.)
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In a different thread, I introduced the idea of "clarity," and when it comes to this aspect of market forecasting, the Pound-U.S. dollar is presently evidencing the most of it among the foreign currency pairs I follow...
Though it spent the final two hours of last week headed south, IF it is to maintain its overall trajectory, one would expect it to eventually reverse course (and to do so in short order) and head north once again.
it strikes me that you are missing the actual ocean current, which are real rate differentials and positioning. Should take a look at a post @Kevin Schmit made about how he approaches trading FX, and then incorporate that into yours.
I have no idea what post you are referring to and I am not going to search for it, since it could very well be a total waste of my time in that there is no information I have on you that gives me reason to believe you have any clue as to what you're talking about. What "strikes" you is of no consequence to me. If I am missing the "actual ocean current," then let it be so, because the "phony ocean current" I have found is yielding what, as best as I can tell, are virtually unprecedented/unparalleled results.
By the way, I am highly resistant to incorporating others' ideas into my system, because "if it ain't broke—don't fix it."
Okay glad to hear you're making unprecedented pnl. Looking forward to reading Bloomberg articles about your success in forecasting fx pairs.
If this DOES happen, be on the lookout for a company called Narrowgate Trading and/or a system called Numerical Price Prediction.