This should be obvious to anyone. But in simpler terms, the chart for ROK (Rockwell Automation Inc) clearly shows the 14-minute, 23-minute, and 3.1-hour baselines converging at the 0.666% envelope deviation with the trajectory aligning with slope of the 19 minute maximal trend, and a confirming reversal at large with an almost simultaneous lower bandwidth of 1.8 standard deviations that is less than the absolute channel marker of the 80.5-minute actionable price range.
Yes, I am going to include the 90-minute measure, but rather than using the baseline, I will be replacing the two-hour price range envelope at 0.35% deviation with the the 90-minute price range envelope at 0.20% and 0.37% deviation (while still keeping the two-hour baseline). (Note that using baselines and the slope of price range envelopes in this way completely replaces the use of temporal support and resistance levels.) No, there is no reason to reintroduce the 40-minute price range back into the picture. It is too slow to closely track the short-term trend, which is conveyed more accurately by the 23-minute baseline; and it is to "wobbly" to paint a "stable" picture of the general direction in which price is headed at the intraday level, which is handled better by the 90-minute price range envelope at 0.20% deviation.
This is the list of contributors to this forum whom you've put on ignore, but for some reason, you don't see maxinger included, whom you added yesterday.
Yay, I made another ignore list! Oh well. At least you will no longer ever get to see a real journal, I.E. MINE. You have 28 journal threads in the journal forum. I have one.
Saturday, July 17, 2021 I like to have all my measures on one chart. However, to see the details with which I was trading last week while also getting the big picture, I had to toggle back and forth between my five-minute and one-hour chart setups. To resolve this issue, I just configured a fifteen-minute chart that combines the two. Here is my take in viewing everything from this perspective… Ideally, one doesn't really want to ever be trading against the 2-hour trend. So, practically speaking, this means entering positions whenever the trajectory of the 23-minute baseline comes into alignment with the slope of the 2-hour baseline, and exiting positions whenever the 23-minute baseline turns away from the course of the 2-hour trend. This will often occur: (1) near the 2-hour baseline; (2) on the "wrong side" of the 2-hour price range envelope, which is no longer actually plotted on the chart; (3) on the "wrong side" of the 90-minute price range envelope, which IS plotted on the chart; (4) near the upper or lower band of the 90-minute price range envelope at 0.20% deviation; or in extreme cases (5) near the upper or lower band of the 90-minute price range envelope at 0.37% deviation. So then, when the two-hour baseline (and the 90-minute price range envelope at 0.20% deviation) reverses course, it is time to reverse the direction of any positions one wishes to enter. Such reversals can take place anywhere on the chart, but the probability of their leading to profitable trades is greater when they constitute a reversal from a trajectory opposed to the direction in which the 12-hour price range envelope is headed, to a course that is in line with it. There is also a high probability of trades ending with success when the two-hour trend reverses direction to rejoin the trajectory of the two-day baseline, but a number of days can go by before this finally happens, and it often takes place in conjunction with the 12-hour baseline ALSO reversing course to rejoin the trajectory of the two-day (and four-day) trend(s). Obviously, this means one should always be on the alert for such reversals any time that candlesticks are painting on the "wrong side" of distinctly sloping two-day and/or four-day price range envelopes.
Thanks!. The next step is to see if I can employ the instructions written in Posts #520 and #527 adeptly enough to conquer the Nadex exchange, expanding on the progress I made this past week, having more than doubled my initial $100 deposit to $248.75. Purchasing Nadex in-the-money contracts is extremely challenging, because the risk-to-reward structure associated with the strike prices the exchange offers stinks to high heaven (if I might be excused for invoking such a glorious place in connection with something so malodorous). Consequently, to remain profitable, one's decision-making process has to be virtually perfect. But, if implemented flawlessly, I believe the above-mentioned protocol has the potential to deliver such results. And not only that, but to go to the next level by empowering a trader to successfully purchase out-of-the-money contracts, thereby taking advantage of extremely advantageous risk-to-reward ratios. If that happens, I should be able to very quickly grow my Nadex account to the point where I can begin to generate the kinds of returns I managed last November during the Nadex Demo Account Trading Competition Promotion, God willing, where I took an initial $10,000 stake up to $15,641 in a single week. That was about $1000 a day, and at that time, the methodology I was using couldn't even hold a candle to what I'm using now, so it ought to be very doable indeed, IF the above protocol is truly legit.
Futures are leveraged, so I have to be very precise with my entries too, but it's probably very different than the challenges of trading binary contracts. AMP's minimum to get started with micros is $100. I know you like your binary contracts, but just thought I'd make another attempt to bring you over to futures, just in case you ever want to try it.