trueblueTEX wrote:Hey doji,
I understood that when price wicked past the BB on one extreme such as the high end, you then looked to go short. But, on your notation to the far right, you say it "broke here go long". What about the chart says Long instead of reversal like the ones that preceded it?
Look at my lines. Price does two things. Reaches a line and gets rejected with a retrace or crosses the line and rejects from the opposit side (retrace). So when my line broke, closed above, we are now in a expansion phase of movement. How Far? I do not know but until price tells me its finished, I'm long. I can tell you this, there is still no indication that its finished going up on this chart. Remember my lines are drawn before price hits the BB. Its where they both happen that is of interest to me.