95 pips for the week on the $Yen:
Here was my third entry with the 4hr touching the 21. Note: The 4hr chart does look flat and has been stuck in a range for the past few days. But, all of the rules are still there with the Rhythm Strength and where price is with the moving averages. The gray vertical line show my entry. If you notice several bars before at the blue vertical line, how hard price fell and closed below the 89 twice. But, the price at the 21 on the 4hr was still holding. I still waited because the closes below the 89 showed weakness on the 1hr. Price promptly ran back up and came back to the 21 again on the 4hr. Now, price is finding support on the 1 hour as well. I entered on a buy limit order at 117.20 and it got hit...barely. Got out with 20 pips and moved the remaining position to b/e.
If anyone missed it. Under the Tools link on the webpage there are 4hr and 1hr charts to print out from January 1st through the first week of October. It's a good exercise to print these out and see how price reacts to the moving averages and MACD patterns.
Here was my third entry with the 4hr touching the 21. Note: The 4hr chart does look flat and has been stuck in a range for the past few days. But, all of the rules are still there with the Rhythm Strength and where price is with the moving averages. The gray vertical line show my entry. If you notice several bars before at the blue vertical line, how hard price fell and closed below the 89 twice. But, the price at the 21 on the 4hr was still holding. I still waited because the closes below the 89 showed weakness on the 1hr. Price promptly ran back up and came back to the 21 again on the 4hr. Now, price is finding support on the 1 hour as well. I entered on a buy limit order at 117.20 and it got hit...barely. Got out with 20 pips and moved the remaining position to b/e.
If anyone missed it. Under the Tools link on the webpage there are 4hr and 1hr charts to print out from January 1st through the first week of October. It's a good exercise to print these out and see how price reacts to the moving averages and MACD patterns.
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