you questioned me about it. it wasn't correct. the way i am using them:
point 1 is last "period" low for a uptrend and high for a downtrend. for the 5m last period is last session. for the 1h last period is last week. for the 4h last period is last month.
point 2 is (uptrend for example) the lowest (or "rightmost" swing low) low after point 1.
point 3 last swing high. updates on every swing.
blue circles are last month (take notice of the fucking entry on the double touch of the upperlip! 5 pip sl would have been good enough but i wouldn't have the balls to take it at nfp!). yellow circles are current month fork (using last month low as point 1).
basically what i am reading right now is:
daily - clear downtrend
4h - uptrend. it either shoots up or it will become a downtrend soon as we are really close to the lower lip and all it takes is a close below that lower lip for the trend to change. then, even if it goes up some, i'll be looking for shorts (again, IF i get a 4h close below that lower lip)
1h - pretty similar to the 4h currently.
point 1 is last "period" low for a uptrend and high for a downtrend. for the 5m last period is last session. for the 1h last period is last week. for the 4h last period is last month.
point 2 is (uptrend for example) the lowest (or "rightmost" swing low) low after point 1.
point 3 last swing high. updates on every swing.
blue circles are last month (take notice of the fucking entry on the double touch of the upperlip! 5 pip sl would have been good enough but i wouldn't have the balls to take it at nfp!). yellow circles are current month fork (using last month low as point 1).
basically what i am reading right now is:
daily - clear downtrend
4h - uptrend. it either shoots up or it will become a downtrend soon as we are really close to the lower lip and all it takes is a close below that lower lip for the trend to change. then, even if it goes up some, i'll be looking for shorts (again, IF i get a 4h close below that lower lip)
1h - pretty similar to the 4h currently.
dreams do come true.