bbmac
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Sorry another question ... Off from work today and was thinking hard about the system 2 Pictures
The example you post shows that a 5min uptrend is present but the 1min chart looks more likely to see a reversal set-up which means a 5min Re-entry set-up...so you would need to act at a 5min re-entry set-up/1min reversal set-up only if there is a trend present on the time frame above the 5min (ie above the t/f the re-entry set-up appears on) and if the macd histograms are with the direction of the trend on the 2 t/f's above that that the re-entry set-up appears on.
Also the last HL you note on your 5min chart is actually a L the HL then LH occuring before it after the HH of the uptrend.
I have posted this before, Remember
a.Downtrend Potential sbr is generally a previous swing lo=previous resistance=potential support when tested from the topside
A potential sbr zone on the 5min is only good for a 1min re-entry set-up following a pullback, providing at least the 5min t/f is trendingdown and the macd hists on both 5min and 30min are crossed down/pointing down.
A potential sbr zone on the 30min is only good for a 5min re-entry set-up following a pullback (timed as a 1min reversal set-up,) providing at least the 30min t/f is trending down and the macd hists on both 30min and 1hr are crossed down/poining down.
b. Uptrend Potential rbs is generally a previous swing hi=previous resistance=potential support when tested from the underside
A potential rbs zone on the 5min is only good for a 1min re-entry set-up following a pullback, providing at least the 5min t/f is trending up and the macd hists on both 5min and 30min are crossed up/poining up.
A potential rbs zone on the 30min is only good for a 5min re-entry set-up following a pullback (timed as a 1min reversal set-up,) providing at least the 30min t/f is trending up and the macd hists on both 30min and 1hr are crossed up/poining up.
** trending conditions guauged by overall price action analysis-classic peak/trough analysis
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