Whatever indicators/PA you use, you need to find the balance of Yin and Yang in the market in the timeframe you trade. For example, there is balance of breakout and retracement in the 5 minutes, daily, monthly charts. If you use a yearly chart, the stock market is always in a bull trend. Buy any pull back on a yearly chart, and use a wide stop, you will do fine with your trade, assuming you can gather about 50-70 bars in your life span.
The NeuroStreet website link is actually https://nstradingacademy.com/ Reviews of NeuroStreet have been mostly positive with some exceptions. https://www.trustpilot.com/review/nstradingacademy.com?stars=1&stars=2
The best indicator is a horizontal line. ALL YOU NEED TO KNOW ABOUT TRADING * Price either goes up or down. * No one knows what will happen next. * Keep losses small and let winners run. * POSITION SIZE = RISK / STOP LOSS. * The reason you entered has no bearing on the outcome of your trade. * You can control the size of your loss (skill) but you can't control the size of your win (luck). * You need to know when to pick up your chips and cash them in. Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss) You cannot control the probabilities of winning or losing. You cannot control your average win size. The only part of the equation that you can control is your average loss size. PRICE ACTION “Now, 2 patterns of market behavior happen on a regular basis: 1) the price breaks to new high's (or low's) 2) the price reverses from new high's (or low's) They happen regardless of time frame. They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden 1) Price will either breakout of the high, low or both of the previous bar 2) Price will not breakout of the previous bar. 3) Price will either close above a level (line) or not. You cannot reduce it any further. Anything else complicates the issue. ENTERING A TRADE You either decide to: 1) Wait and do not enter a trade 2) Trade a breakout 3) Trade a reversal. Those are your ONLY 3 options. That is all you need to know about trading.
If you get a chance, show some screenshots that demonstrate situations where Keltner Channels and 8/21 EMA worked well for you. 5 Examples of Keltner Channels versus Bollinger Bands https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-13#post-5074796 https://newrepublic.com/article/126715/x-files-i-want-believe-posters-origin-story
Looks like you're also using candlestick patterns with Keltner channels on your chart. Thus, is this a two signal trade setup ? wrbtrader
Do you have the center line on, in the Keltner? Do you have the 8/21 on the same chart as the Keltner? ... if so, What do the 8/21 bring to the party?
Maybe I am looking at this wrong, but that first circled trade does not have price outside the Keltner?