rogeryrogery wrote: Tue Oct 25, 2022 7:49 pm
Not expert but here is my 2cents.
2nd chart is current live chart.
Dear Rogery,
Thank you for your 2cents which gives me clarity in the midst of my confusion.
Refer to the 1st chart:
(1) Great Grand Father at the Top & Father + 2nd red dot + RSIOMA mid line cross + crossing of the trend line = take sell trades of the 2nd red dot in the current TF, this is the bias until a Grand Father at the bottom. Exit with the HTF Green Dot in White Semafor.
Optional
(2) HTF Green Dot in White Semafor is considered as temporary market change, it is either a pull back / continuation of cycle. One can go to LTF, take a buy trade of the 2nd dot in the LTF.
Nevertheless, it makes good sense to follow the trend bias: Up trend, focus on taking buy trades. Down trend, focus on taking sell trades. This is to avoid confusion where one may forget the trend bias.
Refer to the current chart:
(1) Green Dot, White Semafor inside Pink Semafor + 2nd dot + RSIOMA mid line cross + crossing of the Trend line = take buy trades of the 2nd green dot in the current TF until a Great Grand Father i.e. Gold Square with Red Dot + 2nd red dot, it is time looking to take sell trades of the 2nd red dot.
Are the above statements correct?
One more question:
I can choose to stay with one single time frame or dual time frame, for instance M30/M5 to take trades based on the above statements?
With heartfelt thanks.
Stuart