DislikedVery well explained. Thank you. It confirms my earlier understanding of what you were saying. Thanks again.
I would like to go back to the case study on GBP/JPY yesterday evening (EST), I saw red on 15 and went short and stayed on until it turned BLUE on 1 hr, then 4 hr but I was already down 300 Pips. (Price went from 223 to 226) Interesting thing is day still shows red!!!
Don't know this is a whipsaw or just I need to have a huge stop loss.. hoping it will come back to the downward trend again..
Love to hear your comment..Ignored
Personally I think 5/15/30/60 is a good set for this indicator/strategy. This means that most trends can take a decent anount of pips, and the SL need not be too big. I have a few ideas for this strategy in regard to an EA that I will post when I can define them in detial.
G-Man