Your method does not objectively define HH and HL, thus is open to an individual's interpretation of what that means. The NT indicator is ZigZag, and specific inputs are needed to define what a new higher high is, for example. The three charts show 3 different settings which yield different perspectives. You could back test and provide the best input which would curve fit your results, and use that going forward, which would then be rendered useless after the market changes, but it could be done.
Answer attached. notice there are instructions for four aspects of Beginner PA trading: 1. Wait 2. Enter 3. Hold 4. and Exit. You compare the present bar to the prior bar at all times.
Here are my L-T E/U gameplans for the last few days. 1hr and 4hr chart levels and patterns outlined. Helps me keep my bearings for the smaller TF signals (1 min and 5 min).
Comments are appreciated as always This one's for Monday. Still expecting lower but my 1hr PA is showing up with some support below. So we may need a bump and then roll over.
Channel pivot prediction is so 19th century. Try Inverse| head and shoulder, channel shoulder prediction, much more smooth and exact. NAD Credit to THE Madman
not bad,what do you do when we don't have a hns pattern,or do you find em by changing timeframes,and i notice a lot of larger ones don't play out,like 50 % or more
Well, it's certainly not the only setup I trade, just posted it here to get the discussion into the next level but if you look deep into price you will notice price lives and breathes through heads and shoulders as it's predominantly diagonal and not horizontal. It's much harder to predict direction longer term. Nevertheless it's reward tends to be larger than the risk, and in many cases much large and that will keep your capital safe over the course of your trading. The failure of the parallel line may suggest a potential change of trend and the easiest way to determine this is when such line begins to act as support in downtrends and resistance in uptrends. NAD