{quote} Yes, it bounced, but here NLD was already changed red; I understood that this make it invalid setup and we shuold again start to look trend change?
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Note that this trade was based on the 4hour chart which was in blue color. The NLD is not based on 30 min for this particular trade. Usually i like to remove the NLD on the lower time frame for these examples to not confuse the post.
Hope that makes sense.
{quote} Yes, it bounced, but here NLD was already changed red; I understood that this make it invalid setup and we shuold again start to look trend change?
Ignored
Ok I took a look at this chart. Very good observation here. So this Indicator (Non-Lag Dot) will repaint INTRABAR ONLY. In this case, it is not a closed bar. So you have to assume that it will continue in the current direction. It you look back at a 4Hour chart, you will notice this ended up closing blue.
Hi Fiddy, See attach picture. Which Fibo is correctly drawn? {image}
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Either one is good. Either will get you in the Sell Zone
You could set a rule that you look back X number of bars. So take the color change bar and start counting back bars to the left. Take the highest high or the lowest low in bar count and that's where you start drawing. I think you will find as a general rule 8-10 bars is good. If you're using daily, 4-6 is good.
Make sense?
Personally I can eyeball it very easily, but for learning this is a good option.
{quote} Either one is good. Either will get you in the Sell Zone You could set a rule that you look back X number of bars. So take the color change bar and start counting back bars to the left. Take the highest high or the lowest low in bar count and that's where you start drawing. I think you will find as a general rule 8-10 bars is good. If you're using daily, 4-6 is good. Make sense? Personally I can eyeball it very easily, but for learning this is a good option.
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How about You use the last fractal that formed before the color change?
{quote} Ok I took a look at this chart. Very good observation here. So this Indicator (Non-Lag Dot) will repaint INTRABAR ONLY. In this case, it is not a closed bar. So you have to assume that it will continue in the current direction. It you look back at a 4Hour chart, you will notice this ended up closing blue.
Hi Fiddy,
Thank you for sharing. Nice approach.
Just one question: 23.6% as entry level (after pullback from 50%) is less reliable then some pips margin/threshold (i dont get it about "similar to renko" from first post, sorry)? - Just how you think, i'm understand what all this stuff has subjective meaning.
Hi Fiddy, Thank you for sharing. Nice approach. Just one question: 23.6% as entry level (after pullback from 50%) is less reliable then some pips margin/threshold (i dont get it about "similar to renko" from first post, sorry)? - Just how you think, i'm understand what all this stuff has subjective meaning.
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Can you be more clear about what your question is? I don't understand what you are asking.
A bit confused with type 2 entry. If we go for long and we only advancing the PO when there is a down bar, which is lower than the previous PO bar; not any bar (can be a down or up bar) that is lower than the previous PO bar. Thks for your clarification in advance
Hi Fiddy, A bit confused with type 2 entry. If we go for long and we only advancing the PO when there is a down bar, which is lower than the previous PO bar; not any bar (can be a down or up bar) that is lower than the previous PO bar. Thks for your clarification in advance
