So here is a photo of 1H, 4H, and Daily.
Normally I would enter long when such setup arises, but after many failed attempts at catching any fish I've learned that waiting for a better setup PATIENTLY is the best option.
TDI on the H1 looks like its going to go north, but then by looking at the 4H the TDI shows a very weak TDI cross to the upside. On top of that the Daily chart still shows a downtrend and the TDI just RECENTLY bounced off the 50 level - big red flag.
I'm more excited waiting to see how everything will setup instead of entering a trade due to impulse just because I have a little greedy devil on my right shoulder telling me to jump in a trade.
Hopefully this will give some value.
Normally I would enter long when such setup arises, but after many failed attempts at catching any fish I've learned that waiting for a better setup PATIENTLY is the best option.
TDI on the H1 looks like its going to go north, but then by looking at the 4H the TDI shows a very weak TDI cross to the upside. On top of that the Daily chart still shows a downtrend and the TDI just RECENTLY bounced off the 50 level - big red flag.
I'm more excited waiting to see how everything will setup instead of entering a trade due to impulse just because I have a little greedy devil on my right shoulder telling me to jump in a trade.
Hopefully this will give some value.
Take what the market gives you.
1