It works well with the daily, E!
I have come across another version Lindencourt. Same five candle reversal and support from Stochs.
The writer does not claim to have invented it, says he thinks that people will notice it for themselves.
Like all of them he then adds indicators, CCI etc. Uses a 100 SMA for the trend. This, of course gets him into some bad trades because he then says above 100 buy and below, sell.
The swings are independant of the 'big' trend and half are against the trend. Trading with the trend is likely to be more productive. Swings with the trade are generally longer.
I understand why purveyors of systems find the need to make it mysterious with fancy channels, fractals and S/R nonsense, that is to attract the unknowing - reminds me of the song from 'Chicargo' Razzel Dazzel Them. but why people cannot see that this is a basic PA system is beyond me.
A six month chart is shown with all the trades that he took. I attach it. (It was too big. I will make it a .gif and return)
Kolin
I have come across another version Lindencourt. Same five candle reversal and support from Stochs.
The writer does not claim to have invented it, says he thinks that people will notice it for themselves.
Like all of them he then adds indicators, CCI etc. Uses a 100 SMA for the trend. This, of course gets him into some bad trades because he then says above 100 buy and below, sell.
The swings are independant of the 'big' trend and half are against the trend. Trading with the trend is likely to be more productive. Swings with the trade are generally longer.
I understand why purveyors of systems find the need to make it mysterious with fancy channels, fractals and S/R nonsense, that is to attract the unknowing - reminds me of the song from 'Chicargo' Razzel Dazzel Them. but why people cannot see that this is a basic PA system is beyond me.
A six month chart is shown with all the trades that he took. I attach it. (It was too big. I will make it a .gif and return)
Kolin