TSLA here in on a 30-minute chart. It is in a channel that has as its basis the 42 ( 7x6) EMA
with the upper and lower bands the 2.618 Fibonacci extensions of the basis value. Accordingly
when hitting the lower band, there is a high probability of reversal to trending up. Conversely,
when hitting the upper band, the price is highly probable to reverse into...
On the 30-minute chart, I have drawn the upper (red) and lower (green) trendlines
of the descending parallel channel. While it had been riding the upper edge of
the Fibonacci/ EMA channel, it has reversed and headed toward the base EMA with
the candles green to red. The zero-lag MACD indicator lines crossed above the
histogram while the True Strength...
This is an extension for the following post :
This is just an example, using a random entry-based / trend following based indicator ( True Strength Index) to time our entry. I do not necessarily use this indicator), to showcase how the ability to navigate the market via this simple concept potentially limit the market noise and only take any trading signal if...
