Disliked{quote} I started trading in the 80's mostly in stocks back in the day. I have embraced technology though and isn't it vastly different from way back then..... Yes I look forward to a highly productive technical exchange.
But be warned that I may ask for examples of trade setups once in awhile from you and other traders because I want to see how you would or are about to take a trade and your reasoning behind such a trade.
I like to see a practical connection with the theoretical aspects of trading, afterall isn't it the reason we trade ... to make...Ignored
Hurst Bands or Dominancy Envelopes allow us to rationalize and hierarchize Tops and Bottoms, Waves annd Cycles.
Hereunder in green you see 3 Ascending Valid Trend Lines drawn between 2 successive bottoms of the same order, degree, nature.
Here the bottoms noted B1 are bottoms which are on or very close of the lower limit of the Envelope 32 Time Units.
As long as Price Action is above the corresponding Ascending VTL , we can say that Trend is UP.
When Price Action breaks the Ascending VTL on the downside this generates a cyclical Action Signal and in this case on confirmation of Price Action a Short Position.
You can notice that some bottoms are also noted B3. This means that these bottoms are on or very close from the lower limit of the Envelope 256 Time Units (in brown)
The depth or Amplitude of the Envelope 256 is (in this case) equal to 2 Octaves