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A 2B Dragon double bottom reversal price pattern...
Many technical directional clues on the daily and weekly ...
PAINT-BARS on indicators to generate SIGNAL-BARS on price. When a candlestick has
BOTH a negative red body AND Lime outline it is a SIGNAL-BAR
I've created a paintbar that's set to place a thicker LIME highlight on the Slow Stochastic line
whenever it's less than 22 and rising... AND it also is set to highlight the price's candle outline...
Stochastic Signals on a longer term chart ...
How much drawdown are you willing to withstand for bigger gains?
This example is using completed Signal bars to place entry orders at the bar low...
Note the longer term 128 ticks-per-bar chart ...
Eventually all three Signal bar entries became profitable but all three could have
become unprofitable if the market wasn't turning up.
Ya still have to guess direction correctly.
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06/14/13
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Definitions of the terminology used most frequently in the posts and on the charts:
[HH, HL, LH, LL] - Higher High, Higher Low, Lower High, Lower Low
[P/A or Price Action] - description of price movements, i.e. a series of HH's & HL's describes an up trend
[TLB] - Trend Line Break...[TLB-retest] - price returning to the level at which it broke a trend line
[Divergence] - Price going one direction while indicators do the opposite
[2xD] - two indicator divergence...[3xD] - three indicator divergence
[RD] - reverse or hidden divergence...example: price making a HL while indicator(s) make a LL
[DIV] - divergence . . . . . . . .[MT] - MACD EMA slope...MAC Trend
[MOF] - Money On the floor, a pull back that reverses before reaching a previous low...
(often it's the first HL that marks the reversal of a down trend)
[Slingshot] - describes a pattern in the stochastic indicator, usually from the over-sold area...aka SLING
[2B Dragon or 2B] - a specific double bottom pattern where features of the mythical creature can be described:
Starting on the upper left of the chart - a 'Top-of-Tail' followed by 'rear feet' + 'front feet' with a 'Hump' in between
followed by a consolidation area that defines the dragon's 'Head'
Indepth explainations and details of my terminologies can be viewed on my blogs.
Blog links are listed on my profile page.
Also visit my other boards here on iHub...
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