Is it: 50 degree short angle to 20 degree long angle. 11 bars in downtrend and 20 bars in uptrend.
Or am I way off?
MightyOne wrote:That is a very powerful rule of thumb you pointed out there es/pip; it is a mystery as to why more people do not use it...
Probably because I don't like to talk about it
On the bottom left of my chart there is what looks to be a formula, but in reality it is just MO shorthand (the kind that makes TRO's skin crawl).
Later on I will show you an easy way to construct a Diamond of Perception and talk about its 3 types.
Then maybe we can move on to 202 now that there are more people that understand the basics.
es/pip wrote:MightyOne wrote:Here is the Diamond of Perception formula used on the EJ minute last night.
While the momentum was bullish on the H1, price did make a larger correction than the previous corrections which returned to reach new highs and I expected a dynamic trend reversal.
It is very dangerous to trade against H1 momentum so I dropped down to the minute charts and used M1 202 on the charts for a 55 pip gain.
The VAST MAJORITY of the time I am trading with H1 momentum as it is suicide not to with few exceptions.
See if you can find any secrets revealed in this chart:
Keep growing and learning -MO
not sure if this is what you are looking for
as you said -- i see the largest correction that returned to the high-- and then the real move that broke that range of prev correction
since the speed was going up at 25 deg and either decreases by 1/2 or increases by 2---- as the market sold of and increased by 2 u drew a 50 deg channel and got out at the bottom of that channel