I’ve talked to a lot of people lately who are impressed by the Value of the Tradesight Seeker tool. Although it is ultimately the red 13-bar counts that give solid buy and sell reversal signals, the reality is that you can often find key market inflection points from the green 9-bar setup phase.
Let’s talk about the US Dollar Index. If you are trading Forex pairs, it’s typically useful to watch the US Dollar Index. Our courses teach a variety of tools to watch the Index and monitor it’s direction, which offers a “top-down” look at what to expect from USD-based Forex pairs at the time.
But how does the Seeker tool work on the US Dollar Index intraday, let’s say on the 5-minute timeframe, which is my most-used timeframe? Let’s have a look at the price action from Tuesday night going into Wednesday on it with our Seeker tool (and market directional tool, which are the various green and red lines):
Remember, green numeric counts, which must be in sequential order, are the Setup phase of the process. If you don’t meet the look back criteria for all 9 bars, the count is erased, so on that chart, you only see the completed setup phases for the session. There were three.
At point A, the market had bounced a bit off of lows and approached the mid-point (red line) of the session. That completed count was exactly a top.
At point B, we had extended sharply to new lows. That completed count was exactly the bottom.
There were no more completed counts for seven hours until late in the Forex trading day around 11 am PST (charts in PST). Then we had another 9-bar setup count, which topped at C and was the high.
It is extremely hard to suggest that this tool isn’t something that can put money in your pocket when you see it work like this on so many symbols in all asset classes and all timeframes.
