Catching a reversal or correction - page 26
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If we enter after breaking through a fractal, we should look how far to the first low and, ideally, put a pivot on it.
I think so if you enter after the breakthrough of a fractal, you should look till the first low, then put a pt after it and then a pt is the width between the pater 1-2 in points, when the price goes over 70-80%, you can take it to the breakeven, If volatility of the pair is not very volatile you can calculate a certain range from the entry point to the first minimum before the entry point, the error can take 20-30%, the total will leave 70-80% when the price reaches the mean price, and will turn around and then exit either by a fixed amount or watch the mean*1,5, mean*2, etc.or make floating TP, so profits would flow or close some part of it, plus add some profit on pullbacks... we can invent a lot of other things, plus mm, etc.
this is all purely my imho... statistics may of course be completely different :)
For the time being we should teach the metal to find necessary patterns, in particular the first ones after the break. If we do this, we will get a good start, and may be the exit will follow.
For some months the channel, in which the price is fluctuating, is more or less stable within 20%, although there are some outbursts that go over the limit :)
By the way, maybe a scheme like Heiken Ashi can help smooth out patterns, it will be easier to classify types 1-2-3
Statistics can show a lot, I think there are pairs that are calm and not shaky, I have a crude indicator with levels, in a few months the channel in which the price is floating is more or less stable within 20%, although there are shots that go over the limit :)
By the way, maybe a scheme like Heiken Ashi's could help smooth out patterns, it would be easier to classify types 1-2-3
have you seen this indicator?
shows breakthrough RSI peaks out of the possible
Put the level breakdown signals into buffers (for version 1.3). Left the signs on the screen the same - sorry, it's been a busy day. I will duplicate them tomorrow (today) for version 1.2.
P.S. Maybe someone will do the reflection?
Put the level breakdown signals into buffers (for version 1.3). Left the signs on the screen the same - sorry, it's been a busy day. I will duplicate them tomorrow (today) for version 1.2.
P.S. Maybe someone will do the reflection?
Grnad mercy for the buffers... I'll wait for 1.2 and then I can dive in and experiment with stop and profit :o)
Dive in :)
Regarding the indicator, on short moves, you can see a breakthrough that with a very high probability will be a fractal, so you can anticipate the entry point earlier or vice versa, exit on the bar and buy on the pullback if the further movement is projected, though it works on a small timeframe