Hi TraderatHome,
I posted so many rainbow posts I got bored of them. (Actually I posted a strategy for using the rainbow with THV to catch a THV trade right in a nice safe spot in a new trend.) I don't actually trade the rainbow, I use it as a trend filter. If you want to be more daring you can also use as a trend filter and take all the THV trades on the side of the rainbow (not just that first one after it turns) as long as PA isn't too over extended.
Here is an example from today - Server time is GMT+2. Note how the regular and 6 point THV trades on the side of the rainbow succeed with a 10 pip TP/15 pip SL and the THV trades against the rainbow fail with that TP and SL
I posted so many rainbow posts I got bored of them. (Actually I posted a strategy for using the rainbow with THV to catch a THV trade right in a nice safe spot in a new trend.) I don't actually trade the rainbow, I use it as a trend filter. If you want to be more daring you can also use as a trend filter and take all the THV trades on the side of the rainbow (not just that first one after it turns) as long as PA isn't too over extended.
Here is an example from today - Server time is GMT+2. Note how the regular and 6 point THV trades on the side of the rainbow succeed with a 10 pip TP/15 pip SL and the THV trades against the rainbow fail with that TP and SL
DislikedMissPips, what has his site come to? Yesterday Cobra said he was working in a different timeframe (I have a hard enough time working in the real one), and now you say you are trading rainbows!
Ok, I gotta say it. It is about time to initiate a rule here.....NO PIC, NO POST! Anyway, I'd love to see that rainbow.Ignored