the move up has already happened for the past say 10 candles and u actually want to short or whatever rather then go long.
I agree, price often corrects after about 10 candles (8 to 12 ish, no set rule but about that many) so you may then get a 60 to 75% retrace. So don’t be afraid to try a short in your strategy with an exit at the 62% difference between candle 1 and candle 10 in the upward trend.
Also check out this site if u want a tiny bit more in-depth look at different indicators: https://www.metastock.com/customer/resources/taaz/?p=14
Thanks for above Jebus, looks a good concise A to Z source of reference. Hope I dont forget to read it! 🙂
