HOLO - Highest Open / Lowest Open Trade

[MightyOne]

You don't need the color PTG

Price does the same thing on every chart and in every period.
Once you see it, you can't not see it.

The only things you need to know are:
1) angles are always 15 degrees and face in the direction of the breakout
(simply see them, it doesn't matter how (or if) you draw them).
2) breakouts are not patterns (channels), they are pattern breakouts.
3) #2 points are always breakouts as well as anything outside of a channel.
4) breakouts create larger patterns & larger patterns push price further.
5) price tends to return to patterns.
Sample Analysis:
"I am either going to go short or wait for price to return to a pattern before going long.

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[PTG]

You don't need the color PTG

Price does the same thing on every chart and in every period.
Once you see it, you can't not see it.

The only things you need to know are:
1) angles are always 15 degrees and face in the direction of the breakout
(simply see them, it doesn't matter how (or if) you draw them).
2) breakouts are not patterns (channels), they are pattern breakouts.
3) #2 points are always breakouts as well as anything outside of a channel.
4) breakouts create larger patterns & larger patterns push price further.
5) price tends to return to patterns.
Sample Analysis:
"I am either going to go short or wait for price to return to a pattern before going long.


candles_shmandles.pngEURJPYM5.png

Ahh - wait a minute
So if you see something much bigger than 15 degrees then that is a pattern breakout and it will tend to return to the 15 degree angle-thing pattern
your attention should be to detect the 15 degree thing pattern in an early enough stage to see the larger than 15 degrees things for what they are: distractions attracting participants like a lamp is to a moth, hiding what you need to see which is the larger flow of the market.
Is that more or less what you're trying to say ?

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[PTG]

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So you continuously look for 15 degree patterns and make the same decisions over and over again if I understand it correctly ?

[MightyOne]

2016-08-10_1941.png

So you continuously look for 15 degree patterns and make the same decisions over and over again if I understand it correctly ?

My friend, there are only patterns and breakouts and wider patterns and larger breakouts.
A slow channel is congestion & congestion cannot be a true breakout.
A "steep channel" is not congestion, "not congestion" is a breakout and a breakout cannot also be a "pattern"...because breakouts "breakout" of patterns.

They are being tricked into believing that the market moves faster than it really does.

Do not draw steep channels, they do not exist, that is what trend lines are for.

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[MightyOne]

After reading PTG's posts more carefully (I am always in a rush)
I can tell that he is a very sharp guy, respect.

...distractions attracting participants like a lamp is to a moth, hiding what you need to see which is the larger flow of the market.
Is that more or less what you're trying to say ?

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[PTG]

OK - thanks. That is very "interesting" (in the positive way )
Looks like I had my lines too steep. I shall have to learn more about this, appreciate any pointers you might have and a place to post stuff so as to not ruin this HOLO place
This might be very helpful actually.

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[MightyOne]

OK - thanks. That is very "interesting" (in the positive way )
Looks like I had my lines too steep. I shall have to learn more about this, appreciate any pointers you might have and a place to post stuff so as to not ruin this HOLO place
This might be very helpful actually.

2016-08-10_2239.png

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2016-08-10_2243.png

There is no need to discuss this further, you are a natural.

[PTG]

There is no need to discuss this further, you are a natural.

lol

Here, a little present: https://www.pinterest.com/carlossathler/stereograms/

[TheRumpledOne]

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TRO_Multi_Meter_NewDailyHL shows when a new daily high/low occurred for each current time period.

Green indicates new daily high and red indicates new daily low.

Gray means no new high/low.

This will help HOLO traders see when NOT TO ENTER the trade.

When H1 is red or green, best to wait for H1 bar to close.

Some traders use M30 and others M15.

Of course, daily, weekly and monthly will always be gray.

Now, so there is NO MISUNDERSTANDING:

DO NOT POST THIS CODE ON ANY OTHER FORUM OR SHARE IT WITH ANYONE.

If they want it, tell them where you found it.

[PTG]

If they want it, tell them where you found it.

VERY GOOD.