2009.03.11 NOT ALL BREAKOUTS ARE THE SAME
Posted: Sat Apr 11, 2009 10:25 pm
2009.03.11 NOT ALL BREAKOUTS ARE THE SAME
I have read that more than once. But what is missing is what makes one breakout different from the others.
If you think about it, you trade in 2 dimensions, price and time. Price moves up and down. Time marches forward. A price channel is defined by price high and price low over a period of time.
TRO2009_Dynamic_PriceChannel displays, in real time, what price channel price is breaking out of.
In the chart above, price had broken out of a 24 H1 price channel that has a 69 pip range. At the moment, price is at the 78% level which is 54 pips above the low and 15 pips below the high.
TRO2009_Dynamic_PriceChannel is a donational indicator.
I have read that more than once. But what is missing is what makes one breakout different from the others.
If you think about it, you trade in 2 dimensions, price and time. Price moves up and down. Time marches forward. A price channel is defined by price high and price low over a period of time.
TRO2009_Dynamic_PriceChannel displays, in real time, what price channel price is breaking out of.
In the chart above, price had broken out of a 24 H1 price channel that has a 69 pip range. At the moment, price is at the 78% level which is 54 pips above the low and 15 pips below the high.
TRO2009_Dynamic_PriceChannel is a donational indicator.