The Brains Trust - 2024, page-1799

thanks Patterns
yes i can see your setup from your chart

i used to like the speed angles
the speed angle from the spike down to the spike up on bis was
the low was $3.77 and the high was $5.10
137c. then add fibs to that range and end up with second fib takes us back to $4.25 or thereabouts on the shorter term chart

$3.87 was the low which would be too deep a retrace on my system except for two things for mine
1. the volume. volume came in at $3.87 which is what i call buying volume and that really was the crux of the trade for mine and which is what i look for

and
2. also add the horizontal on the longer term chart then we end up with a $4 line in the sand and it changes the fib levels

so yes your system is similar and there is a trend continuation there. will see if gets through $5.10

the longer term chart has the speed angle starting at $2 and finishing at $5.10 and add a 50% retrace we get $3.55 or thereabouts. it hit $3.87 above the 50% line and closer to the first fib which also shows yes the trend continues here with a higher target on the longer term chart

the volume at $3.87 on 5th August would have been the catalyst for a trade on my system

i wish i was young again but yes it is a valid system and i wish you ongoing success with it. there is a lot of what i call truth in your words
if your system helps you sort the wheat from the chaff then fantastic
i would just add the volume but i assume you do

all the best