Hi Al,
Earlier today I came across a situation in USDCHF M15, as follows,
TMA Center Line was green and pointing upward, the price trend was generally up, but:
1. TMA Slope = 0.43, below 0.5 (ranging) and pointing downward (Rule 1)
2. Price was above the upper band (Rule 2)
3. TMA Slope value was slowly declining, 0.43 to 0.40 (Rule 3)
4. Price touched R1 and bounced back toward Pivot (Rule 4)
As soon as the price was going down and crossing the upper band, I entered short. After a while, when the price was touching the TMA Center Line, I closed the trade and made 10 pips.
Now the question. Although I got 10 pips, did I somehow violate the 4-Rules because I entered the trade while TMA Center Line was still pointing upward (green). What is the significant of TMA Center Line in conjunction with TMA Slope in this kind of pullback situation?
Hope, you wouldn't mind to answer this post. Looking forward to hearing your comment. Thanks in advance...
Earlier today I came across a situation in USDCHF M15, as follows,
TMA Center Line was green and pointing upward, the price trend was generally up, but:
1. TMA Slope = 0.43, below 0.5 (ranging) and pointing downward (Rule 1)
2. Price was above the upper band (Rule 2)
3. TMA Slope value was slowly declining, 0.43 to 0.40 (Rule 3)
4. Price touched R1 and bounced back toward Pivot (Rule 4)
As soon as the price was going down and crossing the upper band, I entered short. After a while, when the price was touching the TMA Center Line, I closed the trade and made 10 pips.
Now the question. Although I got 10 pips, did I somehow violate the 4-Rules because I entered the trade while TMA Center Line was still pointing upward (green). What is the significant of TMA Center Line in conjunction with TMA Slope in this kind of pullback situation?
Hope, you wouldn't mind to answer this post. Looking forward to hearing your comment. Thanks in advance...
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