This is getting from intermediate to advanced ( its a bugger it can break you or profit you all day)
It also requires you not to leave your computer.
Its very touchy - so the exponential moving average most people thing its price action but it actually isn’t its support and resistance invented for break out candle traders.
THes price action people with there price action channels think they know what there doing but they don’t it was actually invented for break out candles and not price action channels at all.
When a break out candle crosses the exponentional moving average its a (buy signal)
its nothing to do with consolidation at all infact its nil…
when the full bar (almost like the schocolstic ossilator including the high and lows exceeds the exponention its over bought
only when a break out candle crosses threw Prefferebly right threw the centre is a 30 percent shot buy signal
and when the next break out candle ( crossing fingers you get one does not touch the exponentioal its over bought its not a trend, this is why price action channel users loose they think it keeps going up and up
same with down but the important thing is how it crosses needs to be right threw the guts the exponentioal
for a 30 percent shot
Of course this is not advice my opinion take at your own risk these little learnings i’m teaching is for small 5 dollar 10 dollar profits
it can move back down in an instant so not to leave computer close profit if it even comes close to coming back down you might not even get another break out candle just an up .