MightyOne wrote:Captain Pugwash wrote:Mo - do you still use the idea of a "line in the sand" that is a line that price can cross - but NOT close over) and have space to give myself wiggle room?
Price cannot rise on wicks, neither can it fall without closing lower than something.
Does that mean that every close over is bullish? No, it just means that a close over is the min. req. for a bullish expansion.
I use price levels ( "where did she come from, where did she go?" ) as triggers and use 1 or 2 lines on either side as a stop loss with a min
profit target of even money (basically a SSG or BZ trade).
The only time that I really think about making a lot of pips is after I have accumulated a large position size.
I'll use: BZ, SSG, Flip-flops (Rat trade), 1-2-3, &/or Wick-zone with EIGHTS position sizing and money management.
A 'line' is simply 38.2% of the H1 ATR of the last 48 hours multiplied by 2 (size / 2) for each larger chart eg:
H1 48 ATR = 13.1 pips
H1: 5 pips = $10
H4:10 pips = $10
D1: 20 pips = $10
etc
for_captain.png
I would very much like to spend tomorrow playing with charts.
Given MO's words in blue - i am assuming that the above chart marked is marked with an indi.
is there a link anywhere to the code?
thanks peeps