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Well , sometimes it seems like the market has a duty to annoy me . The 3rd trade touched the target and wouldnt trade through to let me go have lunch in peace . If it does follow through in my favor its +48 pips , if not its +5 pips for the day .
Edit - thats + 48 pips for today , nothing like knowing these trades are going with the tide so to speak .
I have dismissed heiken ashi in the past as mumbo jumbo but maybe Im reconsiderring that stance . After studying in depth the mechanics behind HA and just what exactly is being reflected back at me by a HA candle Im finding more opportunities present with this approach .
Im familiar with Randy candles and GoldenEquitys contributions at Forex factory and have read a lot about the approach of the HAS as a method and the indicators they use . I still think its mostly mumbo jumbo with all due respect but I interpret stuff my way and see things differently most times , sometimes its to my advantage and sometimes its to my detriment .
They have all sorts of names for HA formations and really do their homework . I have identified one powerful HA formation that shows up bullish and bearish every single day in every market here in the screenshot . Simply , the arrows point out a condition in which the HA real body is very small , the wick and tail are exposed on both end and "pronounced" not stubby and the close price (the hash mark) is in the wick (bullish) or in the tail (bearish) and the close price is NOT touching the HA real body at all . I havent found the bars HA color to be of any significance in regards to green = bullish or red = bearish . So far its a work in progress and something Im looking to add to my arsenal if it proves its worth after being put to the test .
Gave some back today , 3 losers 1 winner -48 pips . I was directed to sell into the HHs and the unemployment news didnt help any either . Doesnt phase me a bit though and cant wait for tommorrow .
3 winners 1 loser +44 pips today after the trend shifted to bullish at the close of the 0500 bar . The Macd can shift to bullish all it wants but thats still a sideways mess on the 4 hr. where I come from .
Good . I dont trade when the banks have a holiday so for the 4 day week I was +45 pips net . Im working on a few small adjustments to the method . I dont like to change something that works but I do like to capitalize on strength and effectively manage inherent weakness .
Im learning more about the 3 line break chart as a concept and have been finding it to be pretty powerful . Heres a link to surinotes where he maps out some more about the 3LB . Have a good weekend all .
