still waiting for a few answers on this post........ step up to the plate and swing at it. s " the reverse of a "roll n puke " is an "upchuck" trade. turn your chart upside down. same setup the clues are in the red boxes. you tell me what the setup is.......... final exit door was the 5.76 fib. you also went short at the red line...........why............? " s
confluence of time framed money lines et al. "the brick wall " a fully diverged DB. exit at the fib extension and the top fib band. short at the DT , ssto tops diverged....... s
go long or short at the .86 retrace on the second leg of a double bottom or top. look at how i have drawn my fib lines 0.0 to 1.0 forms a box around the DB or DT . all my trades have divergence on the zero lag macd histo bars and the ssto also diverges on the second leg up or down. this is fib expansion, not a retrace from the DB or DT. the final exit door to close profitably is a 5.7 fib. expansion number. s
Okay so you NEED to have either a double bottom or double top for you to put on your trade. You draw a fib on a retrace of the bounce from the double bottom or top as long as the histogram is less (the pull back). And you get out of your position totally at the 5.7 fib.
you are correct.............. you want price to support itself on the second leg with diverge. it has worked for over 3 decades of trading so far. s