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Tue Jan 03, 2017 10:52 am
• 3 Posts
Below there is given an example of the slanted Hidden Scalping Code Review channel behavior within M1-timeframe. (For view the picture see notes in end of article) In addition, there are plots that depict the slanted channel behavior in M5 timeframe. Examining such an example of a heavy "bear" trend (GBP/USD pair movement), one can make the following conclusions. The session trend can play the role of the correction of a heavy "bull" trend in the H1-timeframe. The session trend is going on until the price is still remaining on the left of the slanted channel, turned downward. Thus, in practice, each trader who works with 3 screens (according to A. Elder's technique) - or with four screens (according to Masterforex-V trading system) - gets the better of an individual who opens just a single screen in his terminal. A chart can be plotted in any timeframe - whether it is M1, M5, H1, H4, D1, etc. - it does not matter. The slanted channel technique is one of the ways of comprehending the essence of the trend development.
For watching the charts, the quantity of 3 or 4 screens is optimal. So to say, in this way it becomes easier to trace out the correlation between trends examined in different timeframes. For instance, a trader can prefer working with H1-charts (see the figures submitted above). In this case, an individual can detect the "bull" trend correction tending downwards in H1- timeframe charts presented. The second difference between the approaches of "Forex classicists" and Masterforex-V Trading System to the slanted channel technique consists in the fact that the slanted channels do indicate different important levels.Classicists of Forex" (D. Murphy, T. DeMark, D. Swagger, E. Neiman, etc.) pay attention just to the trend levels.