Many thanks again to all those posters who are encouraging me to go on. Thanks to Tonymand, Sweet Pip, Daydreamer65, Dobro, Max99, Cdawg, VulcanClassic - I acknowledge you all.
Now I am going to show you something that I thought was amazing when I discovered it.
But I am sure you people know about it already.
Have a look at the picture below >>>
By
tymen1 at 2008-03-11
>>> this picture introduces you to the world of vectors - magnitude and direction.
One of the vectors represents the
direction of the Bolinger middle band.
Another one represents the
direction of the MACD.
These vectors are then added together to obtain a RESULTANT which, if you look carefully, is the direction of the
price action.
This works in
every case and on the 5 minute chart, is good for forcasting several candles in advance.
Thus knowing this, we are going to use this as a weapon in our entries.
The chart for entries will be a 5 minute chart with a MACD (standard settings), Bolinger bands (standard settings) and from these we can do a price prediction with the keltner channel.
I will show more posts to explain how this is done.