Candles are green when PRICE IS ABOVE the OPEN.
Candles are red when PRICE IS BELOW the OPEN.
The OPEN PRICE is the ONLY PRICE that CAN NOT CHANGE during a bar!!
If price is ABOVE THE OPEN then price is UP.
If price is BELOW THE OPEN then price is DOWN.
Therefore, if you look at the LOWEST OPEN PRICE and HIGHEST OPEN PRICE over the last X candles, you can determine which way price is moving.
To use this profitably, the long entry should be at/near the lowest open price and the short entry should be at/near the highest open price over the last X bars.
The reason for this is because ALL REVERSALS must cross the lowest/highest open prices.
DO YOU SEE IT NOW?
I told you it was SIMPLE!!
Thanks for the explanation, but as simple as it is - Yale old me still gets confused on the simplest things lol
Are u simply saying once price reaches the HO or Previous HO to go SHORT
and once prices reaches around the LO or previous LO to go LONG?