DislikedGreat, thank you! This helps, every little bit helps.
What is the difference between power 3 and power 4? Probably the calculation used for the phases, but curious as to why there is a different one, which one is more profitable in certain conditions etc...?
I will stick with Power 3 for now and do the historical as you recommended. Thanks! You are a big help!Ignored
There are quite a few differnce between the two templates. Firstly the range in Power 3 is 127 pips where Power4 the range is 220 pips. For Power 3 the Significant level is 38.2, where as Power4 The significant level here is 23.6. Power 4 is slightly more longer term as you can tell by the differnce in range. Bobi has said manytimes the key is to use both templates in conjunction with one another to find confluence. an eg of this would be Price approaching the 100 level on power 3 and at the same time price approaching the 76.4 level on power 4 so perhaps a good time to exit from trade, it makes sence to use both templates.