sujith i do take 123 setups if the candle that first closes above 10sma and cci closes above 50 and high of that candle is within 2 pips of point 2 in the chart you are talking about but thats a counter trend trade the other charts are showing a pure trend change therefore thats trading with the trend not against it like the 123 thats a totally different setup
Ignored
Thanks. This post clarified some of the doubts that I had.
With such a high w/l ratio i suppose it doesn't matter if we are a little flexible - but some of these flags are at too an acute angle to be taken from my understanding of the system.
Great system btw. Cheers Divergence. my drawing lines is bad but they were within the degree of angle the reason i us a 10 sma apllied to median h/L2 and cci set at 8 with levels of - 50 +50 is that i dont have to draw the lines they are calculated to do it for me heres chart again
I am looking at the charts trying to make sure I understand the swing high and swing low. I guess I am still a bit confused on why the pullbacks are not swing high or low as appropriate on some as the example I gave below, but they are on others.
Any other thoughts on how to explain the swing high versus low and how to label them? Some are very obvious but others I see a pullback and would count that.
In the example below, for us to assume that the trend has changed to the down side, the red horizontal line must be taken out (with the red arrow being the previous higher low). Is my interpretation correct?
