Compare & Contrast with Christopher Lewis

On the whole, it appears to me that the six-hour price flow is the fastest, stable measure of where rates are "ultimately" headed from an intraday perspective.

The least "severe" pullback in the six-hour price flow typically finds its way to the "far" side of the four-hour baseline. Successively more radical pullbacks are likely to be observed at the 0.18%, 0.26% or 0.35% deviation level of the three-hour price flow channel.

Does the 90-minute (and 40-minute) baseline(s) do a valid and reliable job of signaling when rates are coming out of pullbacks in the six-hour trend?

If they do, use the 60-minute price range channel to help set stop loss and take-profit levels.
 
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expiated said:
On the whole, it appears to me that the six-hour price flow is the fastest, stable measure of where rates are "ultimately" headed from an intraday perspective.
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If "the six-hour price flow at 0.45% deviation is the fastest, stable measure of where rates are 'ultimately' headed from an intraday perspective," then why bother with plotting the 12-hour measure at 0.35% deviation, and why doesn't it use the 0.45% setting as well?

Well, it's because twelve hours does a better (more stable, valid and reliable) job of conveying where rates are likely going from a daily perspective, and if candlesticks venture outside the 0.35% mark, you pretty well know that a given pair is kind of "on a tear" in a manner of speaking. And remember, the 12-hour envelope is also plotted at 0.65% deviation to include the entirety of typical price action.

In a nutshell, you're looking at how price, the 40-minute baseline and the 90-minute baseline are bouncing back and forth between the hourly (proprietary), 50-minute (standard), three-hour, six- (and seven-) hour, and 12-hour price limits; with the more profitable, higher-probability trades being executed in the direction matching the (aligned) slope(s) of the six- (and 12-) hour measures.
 
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MISCELLANEOUS OBSERVATION:

You got MUCH more clarity on your "Track the Trend" chart by plotting the 30-minute price flow channel at 0.08% deviation.
 
So then, I just coded an indicator based on all the minutely detailed observations I've made over the last week or two so that I can get in on optimal trade opportunities without having to sit around staring at my laptop 24/5...

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The indicator (arrows) does/do NOT tell me when to enter positions, but merely alerts me as to when their might be trade opportunities developing. I have to decide exactly if and when to pull the trigger at my own discretion, with the assistance of the black and blue moving averages, probably somewhere near the peaks and valleys indicated by the yellow-green and pink circles; exiting with profit near the peaks or valleys marked by the x marks.
 
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Is study time over? I think so...

Accordingly, I've optimized my daily and hourly charts based on my detailed observations and I think this has equipped them to give me the assistance I'll need to (easily?) be able to swing trade successfully using the following tactic(s)...

When there is a pullback in a daily chart's general, overall, day-to-day price flow (see the white highlighted boxes) which my daily charts should now be well able to identify...

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...I will go to the corresponding 60-minute chart and monitor the hourly candlesticks until I see the six-hour price flow (which the hourly charts should be able to convey as clear as day) reverse course from a trajectory opposed to the slope of the daily trend to resume a trip in the same direction, at which point, I plan to enter a short or long position as appropriate, and remain in the trade until the six-hour price flow tells me to get out.
 
expiated said:
I think this has equipped...me...to be able to swing trade successfully using the following tactic(s)...
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This means that presently, I am waiting to buy USDCAD; and sell AUDUSD, EURGBP and EURUSD.

As for day trading, it has become a relatively simple matter of looking to enter positions following pullbacks in the XX-Minute Price Flow at X.XX% deviation. (Refer to your personal notes for the actual numbers.)
 
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You regard AUDJPY as bullish, but so far, the daily candlestick is red. If it is still red at the end of this 24-hour trading cycle, monitor the hourly chart for the rest of the week and buy the pair if/when the six-hour baseline turns north.
 
expiated said:
This means that presently, I am waiting to buy USDCAD; and sell AUDUSD, EURGBP and EURUSD.
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Though the daily candlesticks of the other pairs are still moving in opposition to what I regard as their general, overall price flows, from my perspective, EURGBP has not, prompting me to enter a short position...

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But of course, that's no guarantee the pair will finish the day in profit territory, nor that subsequent daily candlesticks will continue to advance a southbound trajectory.
 
Wednesday | January 24, 2024 | 9:30 AM PST

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Contrast the above approach to trading USA indices with how I trade foreign currency pairs:

Here, my preference is to refer, not to one-minute charts, but rather, a combination of daily, hourly and five-minute charts.

As an intraday trader, I regard my primary guiding measures as those consisting of 27 through 40 minutes, though I've pretty much settled on the 30-minute price range envelope at 0.07% deviation as my main reference indicator. It's direction is confirmed by the more stable, but somewhat lagging, 43-minute baseline.

The only faster (than 30 minutes) graphic I'm currently using for Forex day trading is the two-minute price flow channel at 0.03% deviation (1.7 minutes to be more exact) to track the "immediate" short-term trend, with the same measure at 0.14% deviation defining what tends to be the extreme limits of this price action. It is this reference that I use to optimize my entries and exits by gauging pullbacks and surges with respect to the 30-minute envelope.

A longer-term outlook, as well as confirmation of the bias/sentiment of the 30- and 43-minute measures, is conveyed by the two-hour baseline and its corresponding envelop at 0.35% deviation (where reversals in the 30-minute price flow often occur—but not always), though this measure suffers from a substantial amount lag.

And though the two-hour baseline can define more significant reversals, due to its slowness, it is probably safest to use it in this role only when rates appear to be turning around at the 0.45%, 0.60%, 0.75% or 0.90% deviation level of the seven-hour price range channel, depending on how extreme price action is at the time.

So then on the whole, it looks like my approach to trading currency pairs is much more "involved" than my approach to trading US indices.
 
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