Touchdown / Secure

A touchdown low does not get violated at all before the hourly 30 sample upper BB gets tagged.

Examples

A secure low can give a little – the one above with the X gave about 20 pips.

if (i>0 && Low[i]<cover[i]+150*Point && Low[i]<Low[i+1] && Low[i]<Low[i+2] && Low[i]<Low[i-1] && MFI[i]>24 && Low[i]<L80p[i] && cover[i]!=EMPTY_VALUE
         && (Low[i+1]>cover[i+1]-40*Point || Low[i+1]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+1)) && ((Low[i]<cover[i]+150*Point && iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i)>500*Point && Low[i]<iBands(symbol,0,240,2,0,PRICE_MEDIAN,MODE_LOWER,i)) || Low[i]<cover[i])){
          ObjectCreate("MINUS"+IntegerToString(i),OBJ_VLINE,2, Time[i], 0);
            ObjectSet("MINUS"+IntegerToString(i),OBJPROP_COLOR,clrDodgerBlue);
            ObjectSet("MINUS"+IntegerToString(i),OBJPROP_WIDTH,10);
            ObjectSet("MINUS"+IntegerToString(i),OBJPROP_STYLE,STYLE_DOT);
             ObjectSet("MINUS"+IntegerToString(i),OBJPROP_BACK,1);
             
            ObjectCreate("MINUSW"+IntegerToString(i),OBJ_TEXT, 2, Time[i],75);
            ObjectSetText("MINUSW"+IntegerToString(i),"T-D.L.", 16, "Impact", clrBlack);
             
             
                ObjectCreate("MINUSY"+IntegerToString(i),OBJ_TREND,2, Time[i+1], 50, Time[i+1], 0);
            ObjectSet("MINUSY"+IntegerToString(i),OBJPROP_COLOR,clrChartreuse);
          
            ObjectSet("MINUSY"+IntegerToString(i),OBJPROP_WIDTH,10);
            ObjectSet("MINUSY"+IntegerToString(i),OBJPROP_STYLE,STYLE_DOT);
             ObjectSet("MINUSY"+IntegerToString(i),OBJPROP_BACK,1);
             ObjectSet("MINUSY"+IntegerToString(i),OBJPROP_RAY_RIGHT,0);
            
            ObjectCreate("MINUSX"+IntegerToString(i),OBJ_TEXT, 2, Time[i],55);
                ObjectSetText("MINUSX"+IntegerToString(i),"Exit 3Rd BB test", 16, "Impact", clrBlack);
            
            if (Close[i]<iMA(symbol,0,356,0,MODE_EMA, PRICE_MEDIAN,i) && High[i+1]<iMA(symbol,0,8,0,MODE_EMA,PRICE_MEDIAN,i)) {ObjectSet("MINUS"+IntegerToString(i),OBJPROP_COLOR,clrGray); 
               if (Close[i]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i)) ObjectDelete("MINUSW"+IntegerToString(i));
              }
              else {ObjectCreate("MINUSZ"+IntegerToString(i),OBJ_TEXT, 1, Time[i],25);
            ObjectSetText("MINUSZ"+IntegerToString(i),"Buy: "+DoubleToStr(NormalizeDouble(Close[i],4),4)+"-", 16, "Impact", clrGreen);}
             
               if (Low[i]>cover[i]+100*Point) {ObjectSet("MINUSY"+IntegerToString(i),OBJPROP_COLOR,clrYellow);
                ObjectDelete("MINUSX"+IntegerToString(i));
                ObjectCreate("MINUSX"+IntegerToString(i),OBJ_TEXT, 2, Time[i],25);
                ObjectSetText("MINUSX"+IntegerToString(i),"BWB, SOB, Thrust seq.", 16, "Impact", clrBlack);
                ObjectDelete("MINUSZ"+IntegerToString(i));
                ObjectDelete("MINUSW"+IntegerToString(i));
               }
             
      }

The current Touchdown low got downgraded (replaced) by a secure low.

The “2” print of the driven thrust proceeded a bit lower.

An interesting twist was that the LL got undercut first (doubling down) signaling the thrust yet to come.

Below is a sample of a similar double down / double up before the SOB 35 pips out.

The bungee move was proportionately muted, 53 pips or so.

BWB stands for BoWBack, SOB is short for Shot Over the Bow, which typically means 47+ pips of a pullback that brings on the final leg that may be in the 70-100 pips range (bungee move).

Here’s where we are on the big picture: