So, as I was saying on my thread, I've been considering using the Level Sensor as a Buy Zone (because of the way it calculates price congestion areas.)
Well, this was kind of a big and busy
week for me, a lot of observations and realizations and thinking. This is my first chance to post about this, it reflects what I observed 16 hours
after market open, Sunday, May 2. (on the EURJPY)
The H4 Level Sensor was at 125.46 and had been there 4 or 5 days, right from the open of Sunday, if I had used it as BZ, I could've hit at least two days worth of profit target:
If I missed that entry point and wasn't sure what direction to take my trades, I could've used the M90 Level Sensor at 124.54, it had formed at least the Friday (1 day) before,
on 4/30/10. To use the congestion on the M90 chart as a starting point.
-I use the crosshair tool on the charts to approximate where the level sensor is.
-In both pictures, the Level Sensor in the H4 chart below 124.54
; that did NOT form until the 7A EST candle hit its low during the first 30 mins of 7A [look at the M30 chart, the low of
the first M30 candle within the last H4 Custom Candle.] Therefore during real time trading, the only two Level Sensors available were the 125.46 & 124.54.)