Yeah g'day Nathan. Hmmm, interesting, I get it now. And no I hadn't seen the impending cross of the SMAs. I was simply commenting on some possible early upturn signals, but I would wait for more confirmation before I would trade it. So, while I say my bias is up, that is not a bias I am trying to defend, it's simply a statement that on balance I think it is looking positive. As for the checklist factors - they would be nowhere near the point of indicating a HP long 😜 .
Yes I understand. Â It would be interesting to observe what happens if we were able to change one thing and see if that has an over arching effect on how we interpret the rest of the chart. Â For example if the candles were all solid red would we still see the SStoch and rsi and dmi as potential early reversal or see them as supporting further downward movement? Â I find it very challenging to filter biases. Â As you can probably tell! Â This is why I find your no nonsense check list criteria so helpful.Â
Cool, keep that checklist handy! In regards to changing one factor and seeing how it affects our interpretation: that is the checklist's strength - it uses several factors in combination, recognizing (1) that all the different indicators (in the wide sense) have different strengths and weaknesses and (2) no two HP movements are exactly the same.
Nathan, I have just done research on DMI and ADX. I see what you mean - very useful.
Cool.  I look forward to seeing  what you can do with it with respect to the checklist. Have you checked out the CCI yet?Â
Hi, I am working my way thru the CCI after having a quick look.
Today I had a look at the checklist for 18 June, the day after the big slam down. I've had a lot of sh*t to deal with here lately so I have been keeping out of it. Interesting that it scored a 12, which is 72% probability of success based on my last webinar talk. So it could have rated as a HP short entry, depending on risk tolerance, perhaps with reduced contract size. The main thing different about this move (and which also contributed to down-scoring it) was that the short-term EMAs were already below the medium-term EMAs. This reflects the slam down.
