Just something that may be worth watching for in the next week or two is if this recent activity ends in a triangular pattern. That would tend to skew the odds to it being a continuation pattern and therefore a bullish breakout.
Your system would run with the upside breakout anyway once or if it occurs, but these extended consolidations can often trigger false breakouts in the opposite direction due to the way they just drag on past the norm. All part of the fun when signals do that.
Good of you to share charts and explanation of your system. I'm not familiar with the psar indicator but it looks interesting in its workings. Sounds like you switch your trading timeframes depending upon circumstances, purely out of interest, what would trigger you to change? Just shooting the breeze so no drama's if you'd rather not say.
SPI and XJO levels for D wave shown on charts.
Rob
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Just something that may be worth watching for in the next week...
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