scooter, symmetry works in uptrends and downtrends. Only, in my
opinion, might need to see more of a difference to actually call it
a "break". Maybe still just a rounding error. Have to see where it
goes from here.
Posted by DigiNomad on 20th of Jul 2022 at 03:47 pm
Symmetry - maybe I'm missing something but I think that the
parallel channel tool typically provides the same benefits as
measuring symmetry manually? (except at the start of a new
trend). On a related note, I've found that before a trend changes
(on any time frame), the channel tends to break in the direction of
the trend (so if a downtrend, price breaks below the channel)...and
that is a high probability signal that a reversal is coming that
will actually break the other side of the channel and start a new
trend (time frame dependent). Look at the recent break of the SPY
channel to the downside as an example. It just happened, but I've
been monitoring it for months now and it does seem to be a
pervasive phenomenon...
scooter, symmetry works in uptrends
Is this a valid symmetry break or does the previous ...
Posted by craigm on 20th of Jul 2022 at 03:37 pm
scooter, symmetry works in uptrends and downtrends. Only, in my opinion, might need to see more of a difference to actually call it a "break". Maybe still just a rounding error. Have to see where it goes from here.
Symmetry - maybe I'm missing
Posted by DigiNomad on 20th of Jul 2022 at 03:47 pm
Symmetry - maybe I'm missing something but I think that the parallel channel tool typically provides the same benefits as measuring symmetry manually? (except at the start of a new trend). On a related note, I've found that before a trend changes (on any time frame), the channel tends to break in the direction of the trend (so if a downtrend, price breaks below the channel)...and that is a high probability signal that a reversal is coming that will actually break the other side of the channel and start a new trend (time frame dependent). Look at the recent break of the SPY channel to the downside as an example. It just happened, but I've been monitoring it for months now and it does seem to be a pervasive phenomenon...
DigiNomad Yes it does. The
Posted by scooter on 20th of Jul 2022 at 04:13 pm
DigiNomad Yes it does. The Ctrl key right?
Scooter - I don't know
Posted by DigiNomad on 20th of Jul 2022 at 04:37 pm
Scooter - I don't know the short cut keys, but I have the parallel channel tool set as a "favorite" in my TradingView account. Thanks for the tip.
Thanks.
Posted by scooter on 20th of Jul 2022 at 03:39 pm
Thanks.