MightyOne wrote:First let us go back over a few important things.
Complexity Rule: never analyze a chart that is less than 1/8 the chart being traded; a monthly chart (1/12) should not be used to trade a yearly chart & a 3H chart is the smallest chart that can be used for analysis (1/8 of a day is 3 hours).
A small TF (<1/8) borrows strength from higher TF PA; nothing on the small TF is worthy of consideration.
Rule of Moving Parts: a CC should not contain more than 3 periods of time.
Rule of That Damn ZL Indi: don't use it.
Rule of Which Way: bodies show the way, price closed over what line?
These should solve the majority of your problems.
I don't think you comprehend the extent of my problems.
I am trying to use H8 candle as my STF candle except this is the only way I know how to see it. I am not using H1 candles to trade. I would like to trade daily extremes and since you suggested that we should not combine more than 3 candles, I am using H8 as my STF candle. edit: ok, now using a period converter to show H8.
Removed ZL indicator...check.
So when trying to identify reversals, should I be more focused on line a or b in the charts?
Entries are still a little confusing. I am looking for daily extremes but they are everywhere. So which ones should I focus on? I have been focusing on the ones that are ZLs of momos. I enter at that point (using 1/4 or 1/2) and then wait to see if price closes over a line to add to my position. Any thoughts?
Failure is an opportunity to learn.