Hi fellows trader,
This week, I didn't trade as I want. Because my internet connection interrupted most of the time. The company will come at my house this saturday to check the
line. I know the latest improvement is the best of the best of all improvements made in the past.
Why is that ?
We know how to identify the trend on H4. This part is very easy. Everybody know pretty well.
The second part is to wait for price retracement. This requires a good strategy. Because we don't want to enter a trade in the middle of the retracement and then suffer greatly.
The retracement must be happened on M15 if we want to enter on M5 or M15.
I have put enormous time to observe the price behaviors on M15 after price made a long run.
So, I was playing with some traditional indicators then found that TMA, AO, CCI and Macd provided me a good info concerning the retracement.
For Short Trade
M15:
1) Price closed above the RIPT
2) CCI is above 100
3) AO is above the zero
4) Macd is above the zero
At this point you can go to M5 to pinpoint. Because price action is about to reverse soon.
Those conditions above must be happened before enter a trade on M5 according to the rules stated in post#5039-5040.
To enter on M15 you can follow the rules stated in post#5039-5040.
Sai Ram
This week, I didn't trade as I want. Because my internet connection interrupted most of the time. The company will come at my house this saturday to check the
line. I know the latest improvement is the best of the best of all improvements made in the past.
Why is that ?
We know how to identify the trend on H4. This part is very easy. Everybody know pretty well.
The second part is to wait for price retracement. This requires a good strategy. Because we don't want to enter a trade in the middle of the retracement and then suffer greatly.
The retracement must be happened on M15 if we want to enter on M5 or M15.
I have put enormous time to observe the price behaviors on M15 after price made a long run.
So, I was playing with some traditional indicators then found that TMA, AO, CCI and Macd provided me a good info concerning the retracement.
For Short Trade
M15:
1) Price closed above the RIPT
2) CCI is above 100
3) AO is above the zero
4) Macd is above the zero
At this point you can go to M5 to pinpoint. Because price action is about to reverse soon.
Those conditions above must be happened before enter a trade on M5 according to the rules stated in post#5039-5040.
To enter on M15 you can follow the rules stated in post#5039-5040.
Sai Ram
Being a fxtrader is not easy. Ones must working hard.