Fresh look. On the weekly it is approaching the moving average. This could prove quite bullish, however, it is almost overbought on the RSI daily. This could in fact be the start of a new trend above the ma. RSI may continue above 70 as a trend signal if this is the case, and momentum may pick up. I want to see this days candle in relation to the ma.
The daily candles have a range that it is testing. It could be a breakout, strong bullish signal. Or it may just fall back to the average.
The average is like any wave, just the mid point of 2 extremes. Headed to the other extreme.
I am practicing more with the trend scalping now instead of just spike fades. Lately it hasn't been paying as it used to. Also I don't see as many spikes if I am not watching the charts and I don't all the time.
The main goal is to find the best way to program bots. I am open to any method. Right now I am studying MQL4 and 5 but that is only forex I want to automize
futures and stocks too. Shopping for brokers. Forex is the easiest and cheapest still I think, other than penny stocks with a free broker.
I think it will break the low, but it is really oversold. There is meat on the move to at least the 23.6 then the 38.2. I think it may slow down a bit before retrace so I am just watching.