a sell signal in gu ? large stoploss?
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DislikedI shorted E/U at 14505 with SL at 14555 and 1° TP at 14470.
Reason: ZB on MACDIgnored
DislikedI have gone for a similar trade almost to the pip short E/U at 14500 with tp at 14455, I have a smaller SL of 30 pips. Good luckIgnored
DislikedHi bshadroo,
My chart (gmt) looks a little different. Despite strong bear rhythm (-2, check out Palmer's website for definitions) and bounce down from 21, and TC on MACD (which is there now but not when pic saved!), I don't like the succession of spinners. The 0800 - 1200 candle has put me off entering short. If I miss an opportunity, I'll wait!Ignored
Disliked...Looking for TC's is relatively easy if you study the market motion/rhythym. I then look at the indicator (note that there is a little number beside the bar on the MACD to the right). This is the number of pips to turn the indicator in the direction of the potential TC (assuming we are in a pull back). I will then (at 11PM) set an alarm if it's something that I wouldn't mind being awaken in the middle of the night for. The alarm is simply the current price +/- the "little number". I personally like the bars at 11PM/3AM/7AM etc, since the 3AM coincides with the European opening, which tends to have some action, and thus the TC maybe forming at or around that time. 2AM EST is typically dead, or "market noise" between the Asia and European closing/opening...Ignored
DislikedEric,
Quick question, The "little number to the right" you are referring to. Is this the 0.0060 to -0.0060 (for example) range in the vertical scale or do you have a custom setting for your chart. Please expound if you can.
Thanks
RickIgnored
DislikedSure.
Check out the daily and 4H charts attached below. My TL starts at the beginning of the uptrend that began in August. Noticed how its bounced off of the TL the last three days.
I also drew a Fib off of the down move from late Nov.-late Dec. It's been bouncing off of those Fib lines ever since. Note on the 4H chart it's found support on the .236.
Hope this helps.Ignored
Dislikedi have the same your black TL but mine looks different.if u draw it with h1 bars its looks different and more reliableIgnored