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Draw up a 20 Range chart..shrink it by dragging..holding ur mouse where the time is located, bottom of chart. (drag to the right) as far as it goes...and set ur chart to 50 days, not 3, as the default usually is...
You can EASILY see direction of indicy...higher highs and lows...motive waves and reactionary waves...set fibs to the last motive wave and tag fib levels...go back the whole 50 days and review motives to reaction w/ fib and observe levels of retracements..
Range is ONLY price action so its raw data..as a trader u should only be into price action...tip..if using a indicator for divergence..which is a good idea..set period to same # of days as ur chart...as to 50 days as to my chart example, 50 day period to ur indicator....same/same...25 day..then 25 day..same/same
I use 5 range for entry, 10 and 20 range for trend direction..a 200, 100 and 55 ema and 4 smaller ones as a fan sorta speak and their all ema slope...they change color my 10's not up in this shot. i TRY to keep my stop (mental stop) so floor dont see it ! trail my stop on the 55 or 100 and lock in profits along the way, stay far enough away from price action to stay in the game my goal is to ride the WHOLE slide or climb and allow price to end the game... I do REPLAY real fast watchin a squezed long term image the whole freaking 50 days and im beganing to RECOGNIZE reversals and timing entries...
Try that on a minute and see how it fits ya
ps I lov these little guys.........good luck to u fellow trader
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