Disliked...The H1 EMA is making lower lows, and price is below EMA, but there was a divergence yesterday, so expect price to move back across the H1 EMA. This would give me a long bias.Ignored
If we then get a bull support, we are long-biased. As long as I don't see the bull support, I am cautious with Longs ( I don't say I never take them).
Disliked...Through the Asian session there are various divergences both ways - I haven't marked them all to avoid too much clutter.Ignored
Next to that when I enter my computer in my morning, I draw all the EMA swing high/lows. I prefer to do that manually, so its development is printed in my head.
DislikedAt 06:00 there was a bullish divergence, so again a reason to go long, and on M5 RSI went below 20, so a reason for entry 1 (too early for me - was in bed), then the pull back at 2, where fast RSI stays below the slow RSI. However at that point (08:30 by my broker), the previous hour candle had closed in bearish divergence and the current hour candle was also in bearish divergence, so now I'm thinking I should be looking for short.Ignored
What I miss in your story is the mentioning of ZOO's.
H1 EMA was a ZOO but it was very stand alone. I didn't find confirmation.
An EMA is not a line that can't be passed.
DislikedAt 09:00 on m5 the EMA movement is telling me long, but the price is at the H1 EMA, it is overbought on M5, the 08:00 H1 candle has just closed in bearish divergence, so in my eyes there is at least as much telling me to short as there is to go long. I always see conflicting signals, and when I don't have a grasp on the long term bias it means I get out of the trades early. I have never managed to get 40 pips, and never managed to get more than two trades on, because I don't have the confidence that I am reading the charts correctly. Hope you can...Ignored
Regarding my Bias for today, that was kinda undecided. Remember the Daily chart I posted yesterday? that is still in my mind. Next to that, the downtrend given by the H1 is clear.
So I look for shorts .... on a ZOO.
Guess what... daily target reached.
It doesn't matter that you have a few tight losses as long as you make them on important spots on the charts. Just don't trade every divergence you see.
Trading S/R with PA only. No indicators anymore!
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