Greetings again, Andrew.
I am having a little trouble understanding your meaning of your phrase: "The order is placed under the lower point of the market extremum, which is formed after the rebound of the price upward."
It does not seem to mean the lowest point of the previous swing down, then we have the retrace up, then turning back to trend down.
It seems to mean following the retrace up, the first candle closing back toward the trend (so here, under the kumo) marks the entry point at its extreme lowest point. So, as the next candle appears we are looking for it to exceed this low point of this first candle that closed back toward the downtrend.
I hope I have made myself clear for you.
DO I HAVE THIS CORRECT?
Best regards, FS
I am having a little trouble understanding your meaning of your phrase: "The order is placed under the lower point of the market extremum, which is formed after the rebound of the price upward."
It does not seem to mean the lowest point of the previous swing down, then we have the retrace up, then turning back to trend down.
It seems to mean following the retrace up, the first candle closing back toward the trend (so here, under the kumo) marks the entry point at its extreme lowest point. So, as the next candle appears we are looking for it to exceed this low point of this first candle that closed back toward the downtrend.
I hope I have made myself clear for you.
DO I HAVE THIS CORRECT?
Best regards, FS