Disliked{quote} Hey Pretorian, I looked at your screenshot. I thought you were showing me this as an invalid set-up. But I see a valid setup, even based on Classic rules. Look at this: {image} First box: original High second box: original low third box: lower high fourth box: lower low Arrow: lower high This would have given us a good +20. Yes if you had entered short at the bottom, then this would have lost, because as you correctly pointed out, this is a strong support area as we can see on the big picture.Ignored
PA is a little problematic case because of piece of subjectivity. Look what i see on this chart
Let's say, the 2nd is the higher high. Then if we count from this, the 3rd would be higher low - everything is correct. BUT, the 4th is lower high - sign of weakening micro trend. So for the reversal, i want to see 5th below 4th (and finally it went below, but we were talking about it before it happened). BUT for continue uptrend, i want to see a price go at least above 4th. At the time it bounced from the 3rd (i marked it as a black zone). For me it means that we are in ranging (and to say more detailed - we are getting price concentrating, and the whole price is between 1st and 2nd). Then i do not trade because 1M PA doesn't support my decision.
As you can see, price after that is ranging between two extremums and it didn't break up or down.
I think your HH,HL,LH,LL are a bit too little But of corse it is only my point of view, if you're using this sucessfully, keep trading your way.
DislikedMichael, I would like to ask if I may, Classic rules need: Original high (1) Original low (2) Lower high (3) Lower low (4) Lower high (5) Lets just call it a 1-2-3-4-5 PA. For your entries for the cloud pattern, do you need exactly the same PA? What about 1-2-3 breakout? I truly appreciate your perspective. I'm lucky to be learning from the prosIgnored
I will add my little 2 cents - Favorite Hunter system is using an indicator, based on WPR trend, which shows an WPR extremum and mark them as a HH,HL,LH,LL. That's why in Hunter system - PA is more objective. And I'm supporting my decisions by Hunter template.
However, if you want to CONFIRM your "reversal" or "trend in tact" it should be the structure you told in question:
DislikedMichael, I would like to ask if I may, Classic rules need: Original high (1) Original low (2) Lower high (3) Lower low (4) Lower high (5) Lets just call it a 1-2-3-4-5 PA. For your entries for the cloud pattern, do you need exactly the same PA? What about 1-2-3 breakout? I truly appreciate your perspective. I'm lucky to be learning from the prosIgnored
Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
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