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"sometimes its the whole retrace but often the top is set at the...

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princey37

3,463 Posts.

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18/03/24

09:04

Post #: 72933472
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Originally posted by W3hunter: ↑

Yeah for sure! I'm glad to see your inclination arriving at this too.. anticipating entry has always been a problem of discipline for me..( but not anymore hopefully)..very important to get that MACD confirmed trendline first..( that is MACD crossing over the axis line and a trendline break) ..I set up a temporary trendline over price and keep adjusting the pitch of it each new day till it matches with MACD crossing the axis line, at that point the whole TL can be set tightly over whatever portion of the retrace becomes obvious, sometimes its the whole retrace but often the top is set at the 1st lower high..your right this is really where the correct trigger will be in future...till very recently I wasn't particularly aware of these drawn out bottoms.....well spotted!..FFG today looks exactly like MKR the day before it popped..and how's the sneaky depth to close FFG at 2.5c,...Hopefully MACD crosses the axis on Mon or early next week.View attachment 6037347 View attachment 6037395 View attachment 6037353

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"sometimes its the whole retrace but often the top is set at the 1st lower high"

You're onto something there @W3hunter. The highest high doesn't necessarily form the top edge of a triangle, something I have had a hard time getting my head around. I.e. have a look at the env chart I put up, the wave 3 peak doesn't quite fit the top edge of the triangle.
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