adaseb wrote:Man. I am totally lost, I have no idea how to trade this.
Got some Q's
1) What do the !!! mean ?
2) We find an extreme line with proceeding candles that close above and under, with those candles we draw those dashed white lines to mark the new low/high extremes?
3) The way we trade this is when we see the FAT CAT S/R get wicked or candles close below/above the low/high dashed white lines?
1> I believe (and may be badly wrong) from context that !!! is the first candle that closes across FCSR and gives a trading direction: dont quote me on this. at this stage
edit: I meant to say "the first candle that closes across FCSR and gives a trading direction that is not a candle that defines FCSR"
2> Those are S&R lines, trades are taken from D1/W1/MN extremes
3> According to MO:
1. Trade off of the Daily+ High/low
2. Take a trade with custom candle color (CCC)
3. Did price cross S&R?
4. Place an average beyond S&R.
It doesn't matter where price is right now, if the average can rest over the S&R I will take an entry.
5. The moment I want to exit I will liquidate at the small TF extreme (which will also be the high TF extreme).
6. If you are long and the highest price after your entry is not a daily+ extreme then read through this list again.