Because if trend goes UP - we will have to DOUBLE previous parameters {image}
Correct ! When in doubt - wait ! Just observe - fact is best to determine the scenraio we are in UP or DOWN before acting according to our analysis grid MML's +1 and + 2 build a phase of transition to a double octave OR an Hesitation Zonee before Reversal
{quote} Based on current prices trajectory a Gann trader would be loading up on longs after small pullbacks. So I'd be waiting for a D1 MML reset, a bounce off an appropriate octave and trade it long. Of course everything has to align and make good trading sense at the time of engagement. That being said and the fact that its rest time for me ... there will be no trade at this stage. Masterrmind.............
EURCHF [D1; MT5] Price is showing signs of not wanting to break down below key support around the 1.15400-500 level. {image} Chart structure to the left shows that significant bounces (bulls buying power) to the upside have occurred in this price range. There is a real danger of potentially losing some of the floating profit. Therefore, the PA will be monitored rather closely especially at news event times or in and around major session opens. A minor concern is that rollover rates on shorting this pair are slightly negative which is not an issue...
EURCHF [D1; MT5] {image} Aggressive trailing of all 4 SLs resulted in 4 trade closures (3 winners and 1 loser). SLs tightened up due to chart structure and observation of a key support zone. Although the floating Equity% gain reached levels above 10%, the key support zone forced a tightening of the stops and ultimately a lower Equity% gain on this cycle but that's how it goes sometimes ... a judgement call needs to be made based on the available information (some profit must be protected otherwise a major bounce up unprotected positions might erase...
