David4U,
The answer is definitely Price Action comes first. Always.
All of the indicators we have been given lag price. So when your indicator shows an up arrow, if price is still making lower highs and lower lows (as per your screen shot), your course of action would be to WAIT patiently to see if price will continue its current direction. If it fails to create a higher high (i.e. fails to break the downtrend), this would be price telling you that the dominant trend is still down.
To answer your other question about which trend to watch, my suggestion with this method would be to use what is on your chart. Now this also includes the DX Trade Info box which has three key indicators to confirm the trend direction. As you know, these are Trix (5), Trix (15) and Mom (4). As long as they are all in the same direction as price action you have your trend to scalp +5. In addition, Edge has given us another great confirmation indicator by looking at the trend of all 4 pairs together. i.e. more confirmation of trend as a result of the high correlation between them.
The key to success with such a simple method, and I definitely include myself, is to be patient and to pull the pin only when the all conditions line up.
Simple really
Good luck
The answer is definitely Price Action comes first. Always.
All of the indicators we have been given lag price. So when your indicator shows an up arrow, if price is still making lower highs and lower lows (as per your screen shot), your course of action would be to WAIT patiently to see if price will continue its current direction. If it fails to create a higher high (i.e. fails to break the downtrend), this would be price telling you that the dominant trend is still down.
To answer your other question about which trend to watch, my suggestion with this method would be to use what is on your chart. Now this also includes the DX Trade Info box which has three key indicators to confirm the trend direction. As you know, these are Trix (5), Trix (15) and Mom (4). As long as they are all in the same direction as price action you have your trend to scalp +5. In addition, Edge has given us another great confirmation indicator by looking at the trend of all 4 pairs together. i.e. more confirmation of trend as a result of the high correlation between them.
The key to success with such a simple method, and I definitely include myself, is to be patient and to pull the pin only when the all conditions line up.
Simple really
Good luck
DislikedFrom Edge's posts :
"Following multiple pairs forces one to look more at PA first and indicators second"
"Excellent effort, all trades taken with 'dominant' trend."
"Nobody ever claimed it was a 100% mechanical system."
"Clean, clear, concise charts and good PA allowing your signals to work together to confirm what would be a pretty easy hypothesis to reach regarding direction."
We are scalping , looking to make a fast +5 . In this case what trend should we be watching ? Long term of the last...Ignored