Monmouth Realty Continues Higher: Fractal Arrow Buy Signal
A buy (green arrow) is a series of five consecutive bars where the highest high is preceded by two lower
highs and is followed by two lower highs. This has just happened on the MNR-15 minute chart. (Black arrow at $13.80).
The is important. It is the first dimension of your trade.
If the is not asleep, the market is either up-trending or down-trending:
• if the price is above the Alligator's mouth then it's an uptrend;
• if the price is below the Alligator's mouth then it's a downtrend.
The also helps to determine the character of the waves:
• if the price is outside the Alligator's mouth the wave is impulsive;
• if the price is inside the Alligator's mouth the wave is corrective.
At the same time the green arrow occurred -
The lower indicator above the chart is the phase energy, and this turned positive by crossing the zero-line to the up-side.
The gray indicator above this is the Curve, and this remained above its zero line.
With the Jackson Hole Fed meeting tomorrow, the markets are in a "wait and see" mode", so its good to see some positive trending.
Good luck to you in all your trades. Don.
Please note: the text above in bold print is the body of knowledge first written by the great . I have learned a lot from his work.