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Price breaks through previous highs and lows or it reverses...
Based on statistics, the candle after a red candle will make a lower low more times than not and the candle after a green candle will make a higher high more times than not. What would the rat do? What will YOU do?
Did anyone notice any difference between the M1 and H1 statistics?
The 37 horizontal lines make it difficult for me to read this chart. Plus the H1, D1 terminology is foreign to me so...... I am clueless.
TheRumpledOne
Tucson, AZ
Posts: 413 since Aug 2009
I had coded a New high/low multimeter that lights up when a candle makes a higher high or lower low than the previous candle.
I made a RAT version that only shows lower lows when the previous candle is red and only shows higher highs when the previous candle is green.
The rat is not going to beat me.
TheRumpledOne
Tucson, AZ
Posts: 413 since Aug 2009
M1 - 1 MINUTE CHART
M5 - 5 MINUTE CHART
M15 - 15 MINUTE CHART
M30 - 30 MINUTE CHART
H1 - 1 HOUR CHART
H4 - 4 HOUR CHART
D1 - DAILY CHART
W1 - WEEKLY CHART
MN1 - MONTHLY CHART
The lines are crossed by the candles... that is the point. Price makes new highs/lows and reverses. One thing to observe is how previous high lines do NOT act as support and previous low lines do NOT act as resistance which is CONTRARY to popular "wisdom".