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If you look at the bands how they come together while the BB's move underneath for separation. The Bollinger Bands in the indicator are measuring volatility, the closer they come together, the consolidation of the market is evident. Just like a typical bollinger band. The foot is the part where it looks like a heel (initial drop) then as the bands curve up and consolidate, it looks like a FOOT shape.
What this means is, the market will shoot down for a nice trend, it will do a fake-out and then drop one more time or even on the 3rd time and then run up. The key is to find an area where it might pivot. For instance, it will drop for 6 points straight down, then it will slow down, retrace to the 23% retracement, then it will come down, double bottom and then shoot UP. The MACD will then form a perfect looking foot (dependent upon timeframe) to take the counter-trend trade.
Great trading Horst!!! For this specific day, you've shown us that even with 17% winning trades you can still be highly profitable. I pray that many people understand the importance of this. It'll give hope to many people.
how many screens/monitors do u use... just curious..
again im speechless, its like horst directs the mkt everyday... I guess you are so used to your 3 to 4 daily nuggets that i dont think u settle for less.
Man again i bow down to your amazing skills. Keep it up.
God Bless
Thanks Bugsy, I like to think of it as waltzing with the market, but only when she asks me to. Yes, that is my average for my hour. I use 8 screens, but only 7 are dedicated to trading. Thanks for your support
“The more I am around people, the more I love my dogs.” ~Author Unknown