So let's look at the trade in the form of a recap of the elements I have described.
1) We begin looking at the chart with a view to starting work at about bar 108 (This happened)
2) The trade often begins with a small RSI divergence. Divergence sends price across the EMA (This happened)
3) Bears find support below the EMA. (This happened)
4) Price ran down but on the RSI it ran into exhaustion so a hedge is attempted to protect profits thus far. (This happened)
5) The hedge ran into divergence so we remove it along with the profits made. (This happened)
6) We measure the pullback in relation to an AB=CD. (This happened)
7) It hit the AB=CD target by which time we had already made our 50 pips. (This happened)
8) All the time watching the action as it is attacking the next average swing low 2784. (This may still happen)
So the trade is completed albeit taking a tad more time than usual. Like detectives we looked for the clues and take the appropriate actions without trying to guess what may or may not happen. So this is not a system as such it is simply paying attention and reacting accordingly.
1) We begin looking at the chart with a view to starting work at about bar 108 (This happened)
2) The trade often begins with a small RSI divergence. Divergence sends price across the EMA (This happened)
3) Bears find support below the EMA. (This happened)
4) Price ran down but on the RSI it ran into exhaustion so a hedge is attempted to protect profits thus far. (This happened)
5) The hedge ran into divergence so we remove it along with the profits made. (This happened)
6) We measure the pullback in relation to an AB=CD. (This happened)
7) It hit the AB=CD target by which time we had already made our 50 pips. (This happened)
8) All the time watching the action as it is attacking the next average swing low 2784. (This may still happen)
So the trade is completed albeit taking a tad more time than usual. Like detectives we looked for the clues and take the appropriate actions without trying to guess what may or may not happen. So this is not a system as such it is simply paying attention and reacting accordingly.
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