I use high low and close on the bar chart - its not so much about open and close as more of where we lose a higher low or we cross above a lower high
Interesting. However, I don't understand the rationale behind the vertical line drawn from B to C. Is C a price target? If so, what is that based on? I initially thought it was constructed from "measured move". But it isn't.
I like this, its similar to how I look at the market. I consider this market structure analysis or trend analysis combined with s/r. If you pay attention to opens and closes at swing points on certain time frames you can get very accurate entries.
These are merely straightened out squiggly lines that show support becomes resistance and resistance becomes support. More hindsight ingenuity brought to us by our friends that reside in America’s wang
that would be an add on topic measured moves - A - B is the high to low or low to high. C simply measures the highest move. D is point of trade consideration
Absolutely as I said in the first post it was an analysis post trade I do not want to be seen as 20 20 post trade and most of my prior posts are current status trades - good bad or ugly. Im just participating in a chat sharing what I have learned in the past...nothing to gain or lose
In that case, B to C would be the same distance as A to B. But that doesn't seem to apply for the one on the right. For example, this one as well.
that is because it is not meant as a measured move - a simple very usable pattern to discern and entry possibility. Pattern 4 was created by me to teach my friend who could not see the swings