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You asked me how I did it...ok,take a look at the attachment for EURGBP,you will see 3 triangles
First triangle starts on December 13th,you can see a high =0.8480 then a BP=0.8393 which gives an equilibrium image target at 0.8306...The target was slightly exceeded with a low on Dec 21st at 0.8302
Second Triangle...0.8302 to BP 0.8357 gives me a target of 0.8412..again,slightly exceeded on Dec 29th at 0.8420
Third triangle,still evolving..High at 0.8420..BP 0.8354 this projects a target low-as long as the distribution profile doesn´t change- at 0.8288...once it completes and reaches equilibrium,we can start a new triangle.
thank you for your interest and question and i will try to answer it.
There are 5 ticks to each 正 character.
A triangle is created with a high/low/BP with another BP, The software will combine ticks with user-defined interval and the user can then find his required equilibrium.
The size of a triangle required is determined by the objectives of a user and his trading time frame. Longer trading time frame will mean a bigger eq.
Previously mentioned 0.8268 target for a low has been slightly exceeded,with an actual Low at 0.8263.
A new distribution has started from 0.8263,and this allows for a low risk long entry.
Entry@ 0.82682 Preliminary TP 0.8344 SL 0.8248...3:1 Reward to Risk ratio.
ecmf: I thank you ,and Mr Chen,for your kindness in sharing this method,it is really extraordinary.I have posted a few charts using MP,due to:1-Your comments regarding practical unavailability of J-Charts,at least till Mr Chen changes his mind and...2-Other members-including you- asked me if I could explain in more detail what I hinted in previous posts.
I do not want to hijack your thread,so,I will reduce my rate of posting here,even if I may have several questions regarding finetuning of trades,which I will post in a few days if you do not mind me doing so.
do feel free to ask questions regarding J-Chart and you can post your charts too. Glad to know that J-Chart makes a difference in your trading.
Hope this helps.
Update: Simba, please note that there are some fundamental differences between J-Chart and Market profile, trades using J-Chart are always with the trend (breaking of equilbrium), the theory of J-Chart is based on Chinese ancient philosophy and is consistent with chaos theory and not on statistics (standard deviation, normal distribution). It is the practical usage of chaos theory.