DislikedHi Auslanco
Trying to understand the momentum indicator and learn from you on this indicator.
As of now,what I saw from the indicator
Daily chart => pointing north
4hrs chart => pointing south
1hr chart => pointing north
Is this correct???
How do you conclude price is going south?
Thanks!
TSKIgnored
it' also depends on the strength of the pointing.. If you can see...
4hr= strong bent pointing downwards and below 50 line= srtong bearish signal in the next 4hrs
Daily= weak pointing upwards but below 50 line= daily is very much bearish but can have upwards spikes today.
1hr= above 50 and a strong point towards up= momentum is very strong in the next 1hour towards up
when daily and 4hr and 1 hr has a strong point towards downand below 50 line.. thats when the bearish 100 to 200 pips shoots occurs.
In this case we already have a good reading from 4hr (bullish) Daily Bearish but waek, when the 1 hr momentum turn bearish and below 50 line thats when the market start coming down.