An interesting multiple timeframe interplay on the ZB today: The failure of what could have been seen as a bearflag on the daily, except the LTF 240min provides some clues to the contrary, in the form of a failure test: testing for stops at the lows, followed by price rejection. All in the context of a weekly bullflag (see below). Just an example how price action on the LTF (240min) and the market structure on the HTF (weekly) can talk to us and tell us to skip the potential short on the trading timeframe (the daily). Also, as you can see on the 240min, we were expecting the bullish breakout yesterday. Looks like the move is coming, only with a slight delay. Mindful trading!
Evidence-based directional trading
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Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
Remek! Trading Systems
Evidence-based directional trading
Remek! Trading Systems, Inc. (Toronto, Canada) specializes in providing trading system development, testing and consulting services to traders worldwide. Remek! Momentum Pro, our self-adapting trading algorithm is designed to trade the re-emergence of momentum out of consolidation areas. For more information, visit www.remek.ca
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