I got asked a question so it seemed like a good time to ramble on about it.
Mrs V continues to trade on the 2 basics of good angle + separation on 5 min ema's or alternatively if the ema's are a bit of a mess she wants 1hr to confirm move back to trend.
We also follow the concept of 1 day follows the next (for GU more than anything as ej and gj is follow the trend more specifically).
Ok on 16 Apr we have a good pos close, fozzy cross and just on the rsi 50 level. Price was bouncing between 2 S and R levels so the 17th could have been buy or sell trades perhaps with a slight bias for up after the D pos close.
If you are convinced of trend then you can look more at entries at the extremes I'll post a couple of examples. If you are going to go counter trend you might want to wait for the immediate range to break. When gu breaks immediate range our experience is theres usually enough in for a successful trade.
Today we had a reject at a SR level we had identified, the 1hr had clear divergence with a nice shooting star, the immediate range at 6275 was broken the lh tested that level and had a perfect lh entry around 6270. 5 min lh, little/no lower wick on set up, good angle on ma's.
Mrs V continues to trade on the 2 basics of good angle + separation on 5 min ema's or alternatively if the ema's are a bit of a mess she wants 1hr to confirm move back to trend.
We also follow the concept of 1 day follows the next (for GU more than anything as ej and gj is follow the trend more specifically).
Ok on 16 Apr we have a good pos close, fozzy cross and just on the rsi 50 level. Price was bouncing between 2 S and R levels so the 17th could have been buy or sell trades perhaps with a slight bias for up after the D pos close.
If you are convinced of trend then you can look more at entries at the extremes I'll post a couple of examples. If you are going to go counter trend you might want to wait for the immediate range to break. When gu breaks immediate range our experience is theres usually enough in for a successful trade.
Today we had a reject at a SR level we had identified, the 1hr had clear divergence with a nice shooting star, the immediate range at 6275 was broken the lh tested that level and had a perfect lh entry around 6270. 5 min lh, little/no lower wick on set up, good angle on ma's.