Thank so much for your precious response!xard777 wrote: Wed May 15, 2024 7:59 pm Today's trading on the NIKKEI and hitting my target (Goldilocks target of 26%).
This strategy is equally applicable to GOLD and DOW, or even a combination of all three markets.
Here's a breakdown of today's NIKKEI trades:
1. I observed the price descending from a Square Top pattern.
2. Taking a SELL trade off the Index Entry level the price continued down and broke below the Daily Open level, presenting my first opportunity to secure profit$ at the 1st Dot indicator (that said, I had already bailed my position as I had decent Pip$ worth booking).
3. The price then increased slightly above the Daily Open, forming a 2nd Dot. As it began to decline again and cross below the Daily Open, it marked an excellent entry point. The overall market sentiment appeared bearish, and the price was crossing below all the EMAs on the M5 timeframe. So my second SELL trade was taking.
4. Finally, I would close out and book my Pip$ upon reaching the Arrow Dot indicator (except, I bailed earlier again as I blew past my daily % target, but hopefully, you get the picture).
Xard777
Off to bed for a power nap ZZZZzzz
In my test I have some problems in change of bias:
in this trade on Nikkey you enter after Squared Arrow Down, but what is the confirmation of the change of bias?
You entered on 5m after the index entry and the color was gray ok but not red, the EMAs are green, nessun 2nd dot.
The only confirmation of bias change is on 15m but also here the situation is the same.
What can't I understand? What do my eyes not see and yours do?
XARD: On the M5 timeframe, Squares can change their positions as the price fluctuates, but one constant usually remains: the Arrow Dots. While Arrow Dots can also move, they are generally more stable. If you compare yesterday's chart (or even the day before) with today's chart, you will notice that the Arrow Dots tend to hold their positions fairly well.
Here is a 15min chart showing 5min Arrows/Squares & MAs, you can see that the Square changes from yesterday's high but the Arrows really stays stable. My main trade yesterday on Nikkei was a SELL off the Square/Index line which later changed as the square changed today but the Arrow did not change so we still have a down move off the Arrow (with an additional second trade off the 2nd Dot still going down off the Arrow). The Candle colors would have remained the same as Candles are traded from Arrow to Arrow so no change there.
- Once you've seen it, you can't unsee it.
Power Candles hits Rank #7 on MT5 - in less than