AUS200 H4
Divergence is nice to use with small settings to help in deciding to enter a trade or stay on the sideline and watch.
Here is a break out at the horizontal line of a consolidation. Have a look at the behaviour of MACD 5,13,1 and stoc 5,3,3.
Because of their looks, I have not entered. I have this instrument on my watch list since Friday.
Will it be a false break? or will continue up? We will see. We do not fortune tell. We use common sense with the visual clues we have.
On weekly, we are very bullish on an S/r level and we had a strong bullish Morning Stra pattern.
We will see if there is a deeper correction on H4 before resuming the HTF bullish trend or we would see a reversal. The weekly/Daily TFs are very bullish ATM and we need very strong reversal signs to change the bias from bullish to bearish.
On the Monthly TF, we bounced off a resistance as price touched a previous top in Oct. 2007. We had a bearish engulfing pattern.
Divergence is nice to use with small settings to help in deciding to enter a trade or stay on the sideline and watch.
Here is a break out at the horizontal line of a consolidation. Have a look at the behaviour of MACD 5,13,1 and stoc 5,3,3.
Because of their looks, I have not entered. I have this instrument on my watch list since Friday.
Will it be a false break? or will continue up? We will see. We do not fortune tell. We use common sense with the visual clues we have.
On weekly, we are very bullish on an S/r level and we had a strong bullish Morning Stra pattern.
We will see if there is a deeper correction on H4 before resuming the HTF bullish trend or we would see a reversal. The weekly/Daily TFs are very bullish ATM and we need very strong reversal signs to change the bias from bullish to bearish.
On the Monthly TF, we bounced off a resistance as price touched a previous top in Oct. 2007. We had a bearish engulfing pattern.