4 hour time frame is harder... you might lose more often there... why not trade daily if you are new...? You will have a better chance...
And MACD has its place.... but... with PA....
Draw your PPZ on daily or even weeklies.... then swtich down to the lower Time Frame and then look where the PPZs are that you drew ...
And MACD has its place.... but... with PA....
Draw your PPZ on daily or even weeklies.... then swtich down to the lower Time Frame and then look where the PPZs are that you drew ...
DislikedI tried to draw PPZ line on USDJPY H4, since I don't have experience to identify PPZ, so, simply drawed 4 lines blindly, I am referring to the 4 golden dotted horizontal lines in the attached chart.
My gut feeling tells me, couldn't be 4 lines serving one momentum. adding 4 lines there,no clarity,only added complexity.seems not actionable.
Then, I think there must be one line is the real thing. I got no other choice but adding Fib line to determine,it seems 50 fib corresponds to the 3rd PPZ line from top down.
but the junction of the trend line with the 4th PPZ line(the bottom one), seems also important.
after that, I thought twice, feel the top PPZ line should very important too, coz this is the top one.so, only the 2nd PPZ line is left there,it seems I can remove the 2nd line,though don't have a clear mind whether this one should be removed, psychologically, the 2nd line seems having its place there.
geeeeee, why so difficult, I am sure the pros probably only get one or 2 lines maximum there. can I get some clue from your guys what is the executable drawings in your opinions? I am really having no confidence looking after so many lines in such a narrow space, too crawded, isn't it?Ignored