H1-M15 Status Update
Price is above London opening and M15 MACD still shows convergence. Currently it looks good for bulls. We stay long.
I am experimenting with little additions:
One new Linear Weighted Moving Average (Dotted Black): 7, Shifted 1, Set to Close. This will help me to catch trend direction changes earlier. The logic is: while candles stay above it (or below in downtrends), I will feel no suspicion to close any of my open trades. Once any candle closes below it or above it depending on trend direction, I will keep my trade running but I will start watching closer (maybe even start sitting in front of my laptop and watching directly)
Dashed Red TL clones and Dashed BLUE TL clones: They are just clones of the original RED and BLUE Trendlines. But these will also help us to catch trend reversals earlier. The trick is, I will start cloning them right at the opposite end of the candle where we put our classic RED or BLUE Trendlines. If the candle body is very long we will put them onto the body middle. Now, if no candle wick can touch them then all good and it means the trend is intact. But if they get touched or pierced it will mean: careful! And if any close below Dashed RED or close above Dashed BLUE happens I will try to close my trade and open a counter-trend within the following 2 or 3 candles and based on the situation.
Once my experimenting phase is over and it comes out they work I will implement them into my system and explain it in full detail in the other thread.
Stay Green
Price is above London opening and M15 MACD still shows convergence. Currently it looks good for bulls. We stay long.
I am experimenting with little additions:
One new Linear Weighted Moving Average (Dotted Black): 7, Shifted 1, Set to Close. This will help me to catch trend direction changes earlier. The logic is: while candles stay above it (or below in downtrends), I will feel no suspicion to close any of my open trades. Once any candle closes below it or above it depending on trend direction, I will keep my trade running but I will start watching closer (maybe even start sitting in front of my laptop and watching directly)
Dashed Red TL clones and Dashed BLUE TL clones: They are just clones of the original RED and BLUE Trendlines. But these will also help us to catch trend reversals earlier. The trick is, I will start cloning them right at the opposite end of the candle where we put our classic RED or BLUE Trendlines. If the candle body is very long we will put them onto the body middle. Now, if no candle wick can touch them then all good and it means the trend is intact. But if they get touched or pierced it will mean: careful! And if any close below Dashed RED or close above Dashed BLUE happens I will try to close my trade and open a counter-trend within the following 2 or 3 candles and based on the situation.
Once my experimenting phase is over and it comes out they work I will implement them into my system and explain it in full detail in the other thread.
Stay Green
Attached Image (click to enlarge)
Focus only on what truly matters!
8
And whatever I may add or remove from my system we will never shift away from trading RED and BLUE Trendlines. The whole logic is built upon following trends most of the time and trading counter-trends or pullbacks more wisely and only if profitable.
