Possible long MACD confirmation on the GBPUSD.
If I take it, my target price would be around 2.0440, where I have a trendline.
If I take it, my target price would be around 2.0440, where I have a trendline.
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DislikedI agree...That double top is right at the 100% FIb # so if that is taken out then you should get a nice run up from there...Ignored
DislikedPossible long MACD confirmation on the GBPUSD.
If I take it, my target price would be around 2.0440, where I have a trendline.Ignored
DislikedWow Ryan.
How many different pairs do you follow?
I follow 5 currently.Ignored
DislikedHello,
my trades at candle close
eur/usd
long @1.4626
sl @1.4590 (below 1.4600 support) 2x -36
tp a @1.4650 (8ema) +24
tp b @ 1.4670 (21ema) +44
r:r 72:68 0.94
round bottom is forming on macd, 1.4600 has made for support.
rule #10 applies
usd/chf
short @ 1.1416
sl @ 1.1455 (365ema) 2x - 39
tp a @1.1388 (8ema) + 28
tp b @ 1.1350 (21ema) +66
r:r 78:94
macd is forming a round top with resistance around 365.
at least a move back to 8 and TL is possible. BE by then and
maybe continuation down to 21
rule #10 may also apply here
I apprechiate comments and corrections
GreetingsIgnored
DislikedHello,
I still have problems evaluating macd divergences.
What does this macd divergence on the aud/usd mean?
Thank youIgnored
DislikedPhillip,,, Please look at the chart below. If one was trying to trade only TC patterns on the 4hr stratagey. (watching 4hr charts only) Here are the rules I would follow. Please add or subtract to this list as you feel needed.
1. Only trade TC in directon of market rythym or motion. I define that as look for up trades when price is above the 89. Look for down trades when price is below 89. Be carefull when price is crossing back and forth over the 89 Price may be having trouble finding direction.
*** Yep, this is what I do. Also I want the 8 and 21 ma's to be in trend as well so if it says long I want price to be above the 89, 21, and at the 8ma.
2. look for market to be in rythym. I would define that as price action finding support or resistance on the 8 or the 21 after price has pierced them. Then look for trade after price has made retrace back to show support or resistance on those averages.
*** Perfect.
3. After the above has been met look for macd confirmation of TC Pattern.
On chart below would that be considered a Sell TC pattern???? or does the pattern need to form below the zero line?????? I am having a little trouble idenifing this?? can a TC pattern for a long be formed above or below the zero line or must it be above for a long TC and below for a short TC.. I hope this makes sence.
*** I look for TC's off the 21 or 8ma MOST of the time, once in a while I will get long off the 89 MA. It's really all about price action and how it work. Post up some losing trades and I will try to help.
Thanks for the help.Ignored
Dislikedhere is my take on GU , only time will tell but here is an anticipation of a possible 3 sisters in my opinion,, accompanied by a TC on macd would be nice move down. Any comments???Ignored
DislikedMy question is if you look at my chart I have a red arrow posted at what I would call a TC pattern for a sell. But it is above the zero line on the macd. Is that a valid Tc pattern or does it need to be Below the Zero line???
ThanksIgnored
DislikedI took that short if you look back, It was right at the 89 if I remember and to me I really don't look at what side the macd is on, RED = sell GREEN = buy, when it's in a strong trend then it will always be on the side of the trade. But stuff like we are having this week it's not always the case.Ignored
DislikedHello,
I still have problems evaluating macd divergences.
What does this macd divergence on the aud/usd mean?
Thank youIgnored