i added a 1/4 of my ususl position there--noit happy--wanted it to retrce further to load the bazooka
ah well--either wait for that retrce or wit for close below the TL
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DislikedFrom my understanding, if 1 hour is pointing up, retrace is to 30m 5sma, maybe I am mis-understanding the momentum indicator and retraces...can someone clarify this?Ignored
DislikedFrom my understanding, if 1 hour is pointing up, retrace is to 30m 5sma, maybe I am mis-understanding the momentum indicator and retraces...can someone clarify this?Ignored
DislikedI posted this info and chart Sunday night at 9:15PM EST (0115 GMT). I post it again here, not to brag, but to show the power of divergence on MACD when used in confluence with other indicators. Others at the same time thought price might jump up over 234 but with this strong divergence a downward move was almost inevitable. So far we have seen price as low as the 230.75 area which is right under the 231 minimum I was seeing. Take it for what it's worth.
M2B
PS- The second chart is a current chart.Ignored
DislikedWhen the momentum shows a sharp bent on any given TF , it indicates a retracement is due to 5sma of that particular TF. If you look at at Karmo's strategy thread he has explained this little further. Also M2B posted a detailed description about the momentum indicator sometime back. I'm always hesitant to introduce the Momentum indicator, since on a trending market if the momentum changes to the opposite direction some traders blow their account by trying to catch the retracement. When ever you catch a retracemnt you are going against the trend,. You only suppose to use it to find better entries to go with the trend.Ignored
DislikedI posted this info and chart Sunday night at 9:15PM EST (0115 GMT). I post it again here, not to brag, but to show the power of divergence on MACD when used in confluence with other indicators.
M2B
PS- The second chart is a current chart.Ignored
DislikedLilmoe may not agree .. if you look at the chart, the actual shoot down happened when the QQE60 crossed down below the daily pivot. Carbon copy trade of yesterdays NY. Statistically speaking "maximum drawdown: Profit ratio is -6pips: +86pips on this trade.
Yesterday NY trade was -8pips :+43pips.
Friday's trade -5pips : +186pips
This only shows , good trending rallies happen when the signals occur below(shorts) or above(longs) daily pivot. Until then it's yo yo rides.Ignored
DislikedLilmoe may not agree .. if you look at the chart, the actual shoot down happened when the QQE60 crossed down below the daily pivot. Carbon copy trade of yesterdays NY. Statistically speaking "maximum drawdown: Profit ratio is -6pips: +86pips on this trade.
Yesterday NY trade was -8pips :+43pips.
Friday's trade -5pips : +186pips
This only shows , good trending rallies happen when the signals occur below(shorts) or above(longs) daily pivot. Until then it's a yo yo ride.Ignored
Dislikedthis is the retrce ive been waiting for--15min long in play
231.50/70area---good to short-but be careful as lower TL still not brokenIgnored