Disliked{quote} Isn't this the Box setup aka Quasimodo (QML)? https://www.youtube.com/watch?v=HFfChGFHD44Ignored
My prediction is that it will be the bill William alligator stratergy next
- #304
- Edited 11:43am Jun 26, 2023 11:32am | Edited 11:43am
- Joined Mar 2018 | Status: Trader | 224 Posts
{quote} First it was ICT then now its the Quasimodo.. What will it be called next.... My prediction is that it will be the bill William alligator stratergy next
https://www.forexfactory.com/thread/...brainer-trades
https://paracurve.com/2009/06/over-a...r-pattern.html
In reality, it's actually a classic chart pattern called a Crown (Bullish or Bearish Crown) which incorporates a trendline break. It's a form of head of shoulders except that you attempt to get in earlier on the Right Shoulder instead of after the break of the neckline. Some people include Fib Retracement and Extension levels and becomes a modified Gartley pattern. Some people wait for the previous swing to be broken first. It's up to you how you want to incorporate different technical analysis methodologies to improve the edge. Just be aware it might end up causing more analysis paralysis, missed moves or frequent stop-outs.
An old video explaining the concept of the Crown.
Inserted Video
At the end of the day, the phenomenon being traded here is a break of structure (indicating a possible reversal) and a retracement. You can trade it as a HTF big reversal, or as continuation pattern itself on a LTF as part of a HTF trend.
I agree that ICT and his bandwagoners dress up what are basic chart patterns with a lot of unnecessary jargon. If you're studied classic TA patterns, then you realise it's a lot of repackaging though I do combine some ICT concepts as an alternative form of TA.
Leave the Gun, Take the Armani
- #320
- Jun 27, 2023 10:42pm Jun 27, 2023 10:42pm
AUDUSD WOKE UP TO THIS IN MY LIVE ACCOUNTH4 {image} H1{image} M15 {image} {image}
I have EP 1 stopped out too.