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Sunday, August 25, 2013

AMPmonitor TakeProfit levels

FYI: another change to the AMPmonitor platform ...

StopLoss and TakeProfit levels in AMPmonitor are only to demonstrate an idea about possibile levels and Reward:Risk. Traders use different approach to TP and SL and will use their levels anyway.

Since Gartley should be ideally first correction in new trend or for continuation "Gartley" should be any later correction within ongoing trend, the TakeProfits/SLs levels are to be corrected in AMPmonitor.

What AMPmonitor presents now is:

What we will change it to is:

In this specific case the pattern will become invalidated (as did not reach TP before reaching SL) instead of Running (successfully meeting TP level). It's more proper anyway.

If you have additional comments or ideas for AMPmonitor improvements feel free to post them here: AMPmonitor comments and improvements

1 comment:

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