Disliked{quote} Actually price is ranging. Show us your backtest when price is trending : very usefull. Thanks !Ignored
I mentioned this in the post about the method:
It was a bullish trend since Bernake's Bullish Bar (200+ pips I think??), therefore:
- Price above 300EMA, default projection should always be UP DAY.
- Confidence signs:
- Price in the upper channel of Bollinger
- Stoch at upper channel of Bollinger
- Price tends to be above or in the same angle as ZigZag lines.
- Retracements
- Counter-trend trades (ie shorts) with short-term targets.
- Price makes ZZTop and crosses the Bollinger Mid towards the other side of BB (this can take 1-3 days to happen)
- Price continues once ZZBot has been confirmed
- Alot more volatile if price overall is approaching or nearing the 300EMA which can act as support but that doesn't mean price won't go below the 300EMA to test bearish strength.
If you look at the original thread, I did one week's testing of live calls using a more stripped down eyeball method of looking at the chart.
I think I got 2 days wrong out of 3. One of those days was a draw, ie. Doji with price diff of 0.0004
Recently, I've not had the need - but I always begin the day with a projection.... a mini bias. Yesterday I was UP but I was wrong. That doesn't matter though because you still go through the StochBB method using the 1M/5M/15M resolution and then check in on the 1Hour maybe 3 times a day? So even if you're "wrong" on the daily, you can still be right on the trade.
Hope that helps
Here's the Demo Account, warts and all including the bad trades when I still wasn't sure of the signals and also some experimental trades where I hedge.
You will note that no stop loss is used. Various reasons I won't go into now. Enjoy