UP Fractal = Resistance, buy on breakout DOWN Fractal = Support, sell on breakout
If Trend gets going, hold on to position until price closes above/below purple line. Watch for divergences in Momentum indicator vs. price. Watch for major and minor corrections that could indicate a new entry point or a slowing price.
After a trend is done, prices will always retrace back into the balance zone, marked by the three colored moving averages. As long as it is trading inside of it, stay out of the market.
Once a fractal up or down gets hit after price was breathing in the balance zone, put in a pending order and wait for whatever the market tells you.
Does this strategy work well also on lower time frames like H4?
theTrendtradr
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For fun I even play it on the m10. There are some more nuances to it though when you do it that low. 4h, daily and weekly work very well with this. Below noise can be a problem.
Antilogs
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Thanks what is the period of the Moving average? the purple one?
theTrendtradr
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SMA 5, offset 3
Antilogs
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Once a fractal up or down gets hit after price was breathing in the balance zone, put in a pending order and wait for whatever the market tells you. : does this mean you place a pending order either side? i.e. buy and sell and wait for either to trigger?
theTrendtradr
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In bracketed markets I use OCO orders to ensure I don't miss the next move, no matter where it goes.