Pretty happy with my reads, I think I'm getting the direction right a lot of the time now and understand why. But I think I might be able to improve upon is my counter trend trades / reversals of trend in terms of getting in earlier....
TBH Not that sure about he following but I've written it so here it is for posterity...
In an uptrend I am currently using a LH then a break below prior low as confirmation of a reversal... I think I can probably short the top of the LH (at least into the prior low) and should it not reverse back to trend there, hold on to it.
Positive factors a LH is a potential M Top in all likelihood the prior Hi will work as resistance strengthening the trade, should it reverse way before the prior high this is clear weakness.
Thoughts on trading this idea... I should actually be able to get long with trend at the HL+S then treack the lows of each bar with my SL, because should it reverse below the prior bar's low this would mark a new high/top , should that high be above the prior high, then I must wait for a PB to then get back in with the trend. But should that high be below the prior high this would mark a LH and should be shorted back immediately....
TBH Not that sure about he following but I've written it so here it is for posterity...
In an uptrend I am currently using a LH then a break below prior low as confirmation of a reversal... I think I can probably short the top of the LH (at least into the prior low) and should it not reverse back to trend there, hold on to it.
Positive factors a LH is a potential M Top in all likelihood the prior Hi will work as resistance strengthening the trade, should it reverse way before the prior high this is clear weakness.
Thoughts on trading this idea... I should actually be able to get long with trend at the HL+S then treack the lows of each bar with my SL, because should it reverse below the prior bar's low this would mark a new high/top , should that high be above the prior high, then I must wait for a PB to then get back in with the trend. But should that high be below the prior high this would mark a LH and should be shorted back immediately....
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