Analysis and Trading based on Envelopes, Waves, Cycles

The actual outlook of the Sentient Trader platform for the NDX index.

Sixer

NDX 3 Months / 60 minutes

The influence of the Underlying Trend on Price Action

3 Envelopes trending down

Short Term Counter Trends Corrections used the Envelope 32 TU (blue)

Envelopes 256 TU (brown) and 128 TU (ocre) have merged generating a strong Support and Resistance

Envelopes Parameters are : 0.2 / 0.1 / 0.05

Support Resistance Lines (SRL) à la GANN / Murrey are the most effective when Price Action fluctuates within a Price Range, which means when the Trend is Flat, Neutral . This way you can use Horizontal Lines

Otherwise ( Trend Up or Down) it is better to use Forks ( Diagonals) & Envelopes because of the Underlying Trend

Dax Hourly

Hi Parisboy,
Range market condition or trending market condition is actually a relative thing, it is based on user defined. At Bigger TF for example, we just see a range market of price moving up and down for a long enough time (with big enough range of swing price, of course), but if we look it clearly on smaller time frame, we can see that the market are trending at a point, moving in one direction for a smaller time span. Using SRL (there are some Version about it available, i think), and Gann & Murrey are the Two masters giving these theories ... that covers the divided zone using horizontal lines, interesting.
With this understanding, actually we can use Envelope too in order to see the reverse/pullback or the wave ... do i understand it right ??
Please give some light if you have time ... Thanks

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