If you carefully observe the OBV pane then you can clearly establish the bias to the down as it is only kissing the lows of the 15period green threshold line. It has not even touched leave alone breach the top green line.
any specific afl you use ??
My Crudeoil Trades.
- Thread starter varunkochhar
- Start date
If you carefully observe the OBV pane then you can clearly establish the bias to the down as it is only kissing the lows of the 15period green threshold line. It has not even touched leave alone breach the top green line.
any specific afl you use ??
Well rest all you can find in my thread but the Bold green and red lines which is forming a channel is as under.
Draw High EMA2 and Low Ema2.
And then to smoothen them, plot Keltner channels with 8,0.4 as settings.
Then plot the TEMA2(in Bold Green of the top of the keltner channel of EMA2 High)
and TEMA2 of the bottom of the keltner channel of EMA2 Low. In the end only these 2 TEMA's (bold Green and Bold Red) should be on your charts. Use the No draw function for all the other parameters used.
Draw High EMA2 and Low Ema2.
And then to smoothen them, plot Keltner channels with 8,0.4 as settings.
Then plot the TEMA2(in Bold Green of the top of the keltner channel of EMA2 High)
and TEMA2 of the bottom of the keltner channel of EMA2 Low. In the end only these 2 TEMA's (bold Green and Bold Red) should be on your charts. Use the No draw function for all the other parameters used.
The channel is what provides you the current trade and bias. So longs only when you take out the last high above the channel with stop as the last low below the channel for longs and vice-versa for shorts. Adds when previous highs above the channel is surpassed after coming back into the channel and preferably touching the red line of the channel.(Signifying end of retracement) Sounds confusing ?
So going by this method, we only booked our shorts to lock in the profits. The buy would have come if we would have gone above 3204. We reversed again from 3202. So on hindsight 3200 would have been a good level to short with a sl of 5 points, the breach of which would have given us a long trade. But no more trades for me for today.
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