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Intraday FX Player
- Thread starter CFerret
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any bar has 5 points of emotion: the people at the...
1. Top
2. Bottom
3. Mid
4. Open
5. Close
4 of the 5 are well known and used. The only folks I lnow who use Mid are Candle traders and they only use Min on Wide Range Candles. Old trades used closes related to prior mids - they understood the importance of the Mid point.
On the Daily I lined main points of emotion to give us the pale blue line we reacted off on the 1 min chart today. The bigger the timeframe the more important it is how OHLC & Mid lines up on your trendline.
It will work in the 1 min but there can be some violations - 2 min up is better.
The green arrows show a T/L from hi thru 1st closing low and 1 st closing Hi. Where the T/L connects with an important T/L often gives a time and price important reversal. Same thing for the red arrows connecting with an important T/L.
We are scratching the surface of T/L power but I thought I'd do it now as we have a daily in play intraday.
Test using T/L's thru mid's and lining up HLOC and seeing where there is a clear confluence.
Now I use this for a secondary guide - it's fun, but I trade off the signals.
1. Top
2. Bottom
3. Mid
4. Open
5. Close
4 of the 5 are well known and used. The only folks I lnow who use Mid are Candle traders and they only use Min on Wide Range Candles. Old trades used closes related to prior mids - they understood the importance of the Mid point.
On the Daily I lined main points of emotion to give us the pale blue line we reacted off on the 1 min chart today. The bigger the timeframe the more important it is how OHLC & Mid lines up on your trendline.
It will work in the 1 min but there can be some violations - 2 min up is better.
The green arrows show a T/L from hi thru 1st closing low and 1 st closing Hi. Where the T/L connects with an important T/L often gives a time and price important reversal. Same thing for the red arrows connecting with an important T/L.
We are scratching the surface of T/L power but I thought I'd do it now as we have a daily in play intraday.
Test using T/L's thru mid's and lining up HLOC and seeing where there is a clear confluence.
Now I use this for a secondary guide - it's fun, but I trade off the signals.
Quote from Willleung:
Yoohoo, could you please kindly upload chart with K/R highlighted?
Sure, here are standard K/R & Sandwich Bar K/R. Any reversal not highlighted is usually a 3 bar take-out but I'd hope to be in before that.
This is the old chart with highlights.
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