Darkdoji wrote: Tue Oct 31, 2023 7:50 pm
Looking different now in terms of prospects (like a breakout), what do you think? Ordinals not in support because of course we are in range but buying pressure sustained could change all that. On something else ----------------> in the new Orbit Range Arrow would rarely change and a change there is a major event anytime (this is unlike the prior version where it changes frequently, now a change in range arrow is major, major that is a pullback or reversal). Cheers
(-_-)
PS: Also when things are not absolutely clear or seeming to change I wait for the next H4 bar e.g. the next H4 Fixing is 14:00 hrs GMT. I find this incredibly useful for confirming projected range and market intent. Rarely fails to do so.
I am thinking Orbit is warning us of a change, if that is the case we will see everything change over the day. The 1H has failed to close above its pivot buffer, so watching to see what happens. My 4H is at 12 noon, which was always a problem between brokers over the years as I find UK to be the best time and always looks good with UK brokers, so its best just to follow Orbit on this issue.
Sure anyone can use a system to trade and I am sure traders viewing this thread will be saying, look at them watching for a trade to setup, I am already up 30 pips or more using my system. But what about all the false setups, even a falling knife market would suddenly stop and reverse as soon as I put on an order. I have see days where the last 12 hours have only moved around 90 odd pips and after a few trades chasing a system, I am down over 120 pips as I have no idea if I have read the system right or where to take profit so end up closing trades at a loss. Even a few trades with spread can quickly mount up. So I would rather wait for something very reliable, with the least amount of stress as I have ever seen, which is getting easier to read after spending only a few days watching every move Orbit is making since reading your last manual on page 1.