You want french fries with that, too?
The time frame depends on your trading style and could go from the 15 min chart up to the monthly or weekly chart, the logic of the preceding trading setup still applies.
Personally I day-trade the Forex.
Do you believe in a holy grail?
- Thread starter tandh
- Start date
You want french fries with that, too?
The time frame depends on your trading style and could go from the 15 min chart up to the monthly or weekly chart, the logic of the preceding trading setup still applies.
Personally I day-trade the Forex.
Not necessarily, because when you liquidate the long position the closing price must also be below the 40 previous bars (condition 2) to trigger a short signal.
No, when you initiate the long position, as soon as you see 2 consecutive bars completely below the two moving averages you close the position then you wait for another buy or sell signal (condition 1 and 2).
In rare instances, a short signal could appear immediately after you close the position or even while the long position is still in progress, and in that case you close the long position and initiate a short position.
Holy grail right here
Or, even simpler, without indicators . . . www.traderslaboratory.com/forums/wyckoff-forum/16270-if-you-can-draw-straight-line.html#post179217
I also trade with zero indicator, just pure price action.
In fact most traders wouldn't believe how easy it is to consistently extract money from the market with extremely simple bread-and-butter 100% mechanical price action patterns that a 15 year old boy could spot in seconds, if he knew what to look for.
The sad fact is that they won't trade unless they have at least 73 different indicators on their charts!
However, it takes years and years of charts studying to find these winning price action patterns, unless the trader is extremely lucky and finds something that works immediately.
Anyway, thanks for the PDF document, even though I am already familiar with Wyckoff's approach.
I am the Holy Grail!
It definitely exists.