TheRumpledOne wrote:nickohorny wrote:Man my feeble brain has been trying to understand what is going on, from looking at the charts and the horizontal lines of the LL/prev LL and HH/prec HH etc I can just purely see the attached...
Hmmm
Nice annotation but you left something out... what is the chart telling you?
Or another way...
What does price crossing below the highest open imply?
What does price crossing above the lowest open imply?
HINT: The open price does not change!
Still struggling lol! Only thing I can think is:
What does price crossing below the highest open imply?
If price crosses BELOW the highest open then at some point a new High Open will be created thus making that one it crossed a 'previous HO' Which signals to me that price is continuing lower??
Should price go ABOVE instead then a new HO will be created ABOVE thus making the one it crossed a previous HO which signals to me price is climbing higher?
Does this have anything to do with the space between the 2 opens?
or if the previous OPEN is ABOVE or BELOW the current one? Eg/ if price goes lower then the recent open will be above current at some point, if other way round it will continue to make a new High open and recent one is below current.
Agh My brain hurts haha