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@Fat Tails
I think your indicator does work great. Like all your indicators do.
I need a handmade chart. (And handmade SL / targets). Only todays H/L and yesterday’s HLC are programmed.
As a student (Architecture) I did a semester work “Programming instead of drawing”.
Now I am drawing instead of programming.
But that's not relevant for the 6E...
@terratec: Handmade is much better than coded, as you need to think about what you are doing.
I have only coded the indicators, because I always think in the same way. The indicator just anticipates what I would have thought. And as the result is already there, I do not need to think and draw any more.
Therefore I can now think new and different things.
I must admit that I hate to draw things, as I never managed to draw anything correctly in my life.
Markets heavily biased short right now, thats a pro gap up, wouldnt be supprised if we break some bear balls up to 3500 first. As you said mate, trade what you see
- If everyone is bearish, yet the market is NOT going down, then time to be bullish
- If everyone is bearish, and market IS going down, then just hop on for the ride into oblivion
Likewise,
- If everyone is bullish, yet the market is NOT going up, then time to be bearish
- If everyone is bullish, and market IS going up, then just hop on for the ride into never-never-land
The tough ones are:
- You are bullish/bearish, but the Fed trades against you. The Fed also trades against common sense.
So I guess, always trade in the same direction as the Fed And rarely in the direction of common sense.