FTM: After Further Consideration Long Swing Still Open

11 thg 8, 2023

Hi Everyone! After further investigation in historical price data with my indicators, I've determined I should change the requirement for the level of the Red Line in my proprietary indicator from greater than level 20 to greater than level 10 for the 4-Day, 5-Day, 6-Day and 1-Week. I'm leaving the requirement at greater than 20 for a long position in the 3-Day and lower time frames.

Currently, the 8-hour is the highest time frame in which my Red Line is above level 70. Which means the 8-hour is being used "currently" as the time frame to "close" this long swing position if conditions are met to close using the 8-hour.

I currently have alerts setup on my strategy. If I get an alert to close this swing position, I'll let you know.

Happy Trading and Stay Awesome!

David

11 thg 8, 2023

Ghi chú

UPDATE:

The Red Line for PARXCES indicator has moved up above White Level 70 on the new 12-hour candle. This indicates we use the 12-hour for closing now. Green Line - and - Yellow Energy falling "below" Yellow Level 50 would mean closing conditions are met. However, this has not occurred yet. Let's see if the Red Line the next 24-hour candle can cross above White Level 70 before closing conditions are met in the 12-hour time frame.

Here is the 12-hour:


24-hour time frame is bottom left of center. The Red Line in the 24-hour is currently at level 64.6. This is not high enough just yet to allow us to use the Green Line and Yellow Energy in the 24-hour to close this long position if closing conditions are met.

12 thg 8, 2023

Ghi chú

UPDATE:

The 24-hour is getting super close to meeting closing conditions for PARXCES indicator. Here's the 24-hour:

Red Line in 2-Day [Bottom Right of Center] still has a lot of work to do to get above White Level 70 to take over our closing conditions. Red Line in 2-Day is currently at Level 43.89.

What does this mean? We may have to close the "swing" trade soon [To be on the safe side]. Let's see if closing conditions are met in the 24-hour before jumping to conclusions.

12 thg 8, 2023

Ghi chú

UPDATE:

Here is the Immediate Group (30s, 1m, 2m, 5m, 10m, 15m, 20m & 25m): It's trying to make a recovery but we'll see...

15 thg 8, 2023

Ghi chú

UPDATE:

FTM LONG HAS BEEN CLOSED TO BE ON SAFE SIDE.