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DislikedI have the feeling that the determination of the height of the consolidation box is purely empirical in this system.
I mean that this approach could not be robust in all market conditions. Do People should test mainly this pair on 15 min TF before being convinced that 22 pips is the ideal height ? What if they decide to focus on 1H or 4H TF because they could not stand in front of the charts all the day.
What if market momentum change and 22 pips does not make any sense ? (I'm saying 22 pips but it could be 30 or whatever). I have no clue...Ignored
DislikedI have the feeling that the determination of the height of the consolidation box is purely empirical in this system.
I mean that this approach could not be robust in all market conditions. Do People should test mainly this pair on 15 min TF before being convinced that 22 pips is the ideal height ? What if they decide to focus on 1H or 4H TF because they could not stand in front of the charts all the day.
What if market momentum change and 22 pips does not make any sense ? (I'm saying 22 pips but it could be 30 or whatever). I have no clue...Ignored
DislikedThe height of the box doesn't matter at all. All you are doing is trading a breakout from a period of low volatility. As long as the height the indicator finds, or the manual box you draw, represents low volatility for that pair then it's fine. Or you could make life easy for yourself and just trade H4 inside bars. They are virtually the same thing.
You will get a lot of whipsaws/false-breakouts with any system like this. That's why it needs to be combined with understanding the other pieces of the puzzle such as support and resistance areas,...Ignored
DislikedThanks Pixel a very good point. I have 2 main rules that I try and trade by they are:
Is it logical
If my "professinal money manager" was going to do this with my money would I kill him.
If you wouldn't allow someone else to do what you are about to do why would you do it.
Getting back to this method and thats what it is I have some ideas that I am playing with but need some time to work it all out. Rome was not built in a day.Ignored