DrSlater06

LTF Overbought & Oversold Levels Determine HTF Candle's Wicks

Éducation
OANDA:AUDCHF   Dollar australien/Franc suisse
The overbought & oversold levels on a lower timeframe can determine the upper and lower wick on a higher timeframe's candle.

If you know with a high probability what the directional bias is (trend is determined by the HTF candle body closing above or below the 8ema convincingly) you can then use the LTF overbought/sold levels to catch the wick entries of the higher timeframe candle, increasing your win rate and risk to reward.

The lower timeframes (left) are married up to these higher timeframes (right):
4H/M
1H/W
15min/D
5min/4H
1min/1H

The entry criteria for a long needs to follow these steps in order:
1. Price below the HTF open
2. LTF blue wave hits -60
3. LTF bullish candle body
close above 8ema

The entry criteria for a short needs to follow these steps in order:
1. Price above the HTF open
2. LTF blue wave hits +60
3. LTF bearish candle body
close below 8ema


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