Not to offend you, but it sounds like you may need to acquire some basic candle stick/chart reading skills. As mentioned in a previous post, I am a candlestick guy.
The candlestick, trend lines and fibonacci retracements compose about 90% of my trading decisions. The oscillators that I love playing with only provide after the fact confirmation. If the run in price action is long enough they are great, but remember they are based on price action, so why not just learn to read price action.
I will mark up a chart this weekend and put it out to cover a few points, remind me if I forget.
A great book that just came out is "READING PRICE CHARTS BAR BY BAR" by Al Brooks M.D., but if you are new in the trenches this book is not a starter book. Infact, without some basics, it is over a lot of peoples heads.
The following user says Thank You to GarryM for this post:
Thanks for the book recommendation, I'm going to order it. Sounds like just what i need.
These indicator-based strategies of entering when all colors are the same are amusing but I'm afraid they're leading people down the wrong path. I even got sidetracked on one of these paths recently. I've yet to see any proof that trading when several indicators are in agreement can be profitable without any discretion. And discretion means price action.
Yeah, I don't like Candle stick trading style ( ala DOJI, DRAGONFLY DOJI, SPINNING TOP, HANGMAN, HAMMER, SHOOTING STAR, INVERTED HAMMER, etc), and I don't want to trade in this style. However, I like and have a good understanding of the OHLC bar chart style. A successful RMMA (Rainbow Multiple Moving Averages) trading style may not require a single candle on the chart. The rainbow formation are price actions. Fibs fails. I love PIVOTS, SUPPORT/RESISTANCE, TREND LINES (channels, pennants, etc), and VSA (Volume Spread Analysis), and I want to trade in this style. I hate indicators and robots. I want to have two charts (one "Short Term", and one to see the "Big Picture") with only Sharky's ECO2NEW_Paint_sharkypkg (the most reliable and accurate indy I have seen so far in this forum) with "Auto Trend" lines as indicated in your (Garry's) chart. And that is the reason for my interest in your setup. I'm not at all offended; we are all learning how to improve our trades. I was just following up from the DMA_Paint_Sharky arrows you mentioned earlier. You will note from my snapshot in post #312, that I use "HiLo" Chart style because I don't like Candle sticks.
So, please post your chart and we can all learn from it.