OK so where lh/hl's are clear cut and an indicator cannot keep up I'll be looking to trade on normal naked basis. If in any doubt wait for indicators to confirm.
The attached ej chart.
Trade 1. The previous hourly candle was a nice higher close green hammer. A clear hl.
Trade 2. A lh right on the even number. Neither of the stoch had crossed and if you want to sell on an even number you had better be convinced of a strong trend. Look to the left of trade 2, price is higher than the bottom at 118.50 with a couple of hl's in between, thats no longer a clear cut strong downtrend. Probably a no trade.
Trade 3. The trade 2 lh is immediately followed by a hl. Here all 4 indicators agree. If in any doubt all 4 indicators to agree.
Trade 4. All 4 indicators agree.
Trade 5. A clear hl and 3 of the 4 agree. A trade yes but being the 4th hl in the run if it pretty much doesn't kick on soon probably a good idea to get out. Its unlikely I would have waited for a 15-20 pip stop to hit here.
Trade 6. If this was taken it was an immediate loser.
Trade 7. The indicators line up and after all the sideways rubbish the first time a signal has hit and price confirms by pushing further in the direction of the trade.
All in all 7 possible trades in a few hours, 4 winners, 1 loser, 1 BE to small loser, 1 no trade.
The attached ej chart.
Trade 1. The previous hourly candle was a nice higher close green hammer. A clear hl.
Trade 2. A lh right on the even number. Neither of the stoch had crossed and if you want to sell on an even number you had better be convinced of a strong trend. Look to the left of trade 2, price is higher than the bottom at 118.50 with a couple of hl's in between, thats no longer a clear cut strong downtrend. Probably a no trade.
Trade 3. The trade 2 lh is immediately followed by a hl. Here all 4 indicators agree. If in any doubt all 4 indicators to agree.
Trade 4. All 4 indicators agree.
Trade 5. A clear hl and 3 of the 4 agree. A trade yes but being the 4th hl in the run if it pretty much doesn't kick on soon probably a good idea to get out. Its unlikely I would have waited for a 15-20 pip stop to hit here.
Trade 6. If this was taken it was an immediate loser.
Trade 7. The indicators line up and after all the sideways rubbish the first time a signal has hit and price confirms by pushing further in the direction of the trade.
All in all 7 possible trades in a few hours, 4 winners, 1 loser, 1 BE to small loser, 1 no trade.