DislikedAt last I can make sense of this trading method.
With the introduction of the 5m TF and the 30 EMA all becomes clear.
Momentum/Correction/Price Action and continuation I understand.
The magic ingredient for me has been using the 30 EMA as the trigger for taking a trade.
I just have to practice the PATIENCE needed to wait for the perfect setup.
I am only trading EU and AU because of the small spreads with my broker and because they both move very smoothly.
I'd advise anyone new to trading...Ignored
here's 5m eu long I took:
- 30e above 200
- nice momentum up
- pullback to 30e
- nice pinbar to trigger entry. I could have waited for a 30e touch to enter with smaller sl.
- sl behind 5m swing low=9 pips
- closed at yesterday's high for 8 pips
This trade had no trigger I could understand on 15m but 5m was clear.
Steve