US500 slowly approaching baseline on M15. The last reaction at EOD was very nice, however today formed a lower high vs yesterday, so maybe a sign of weakening bull strength. We'll see what it shows us.
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Disliked{quote} Hi Mik2012, Could you share the thought process of this trade. You got it done really well. RegardsIgnored
DislikedHi all, I just need one clarification. Given all the entry conditions stated in post 1, can I enter every time the price is on the opposite border of the 8EMA channel (but in the same area of the 200EMA), or the valid entrance is given only when the 8EMA channel crosses for the first time the 200EMA? May thanksIgnored
DislikedHi Laura, just curiuos, would you still enter the market if the trend is on sideways such as the screenshot there even the requirement (MTF, RSI, SMA, touched the channel, or did I miss anything else?) was met for the strategy? {image} {image}Ignored
DislikedWhat if the MTF all green and the rsi is about 70++, but the channel still below the SMA200 (As the screenshot). Was thinking that: Should I go long immediately? or go long right after both EMA8 go beyond the SMA200? or go long after the channel beyond SMA200, and wait for the bar to touch the bottom band? Thank in advance.. {image}Ignored
DislikedUS500 slowly approaching baseline on M15. The last reaction at EOD was very nice, however today formed a lower high vs yesterday, so maybe a sign of weakening bull strength. We'll see what it shows us. {image}Ignored
DislikedGood morning traders Let's run through a few charts before the trading day starts. {image} I was asleep when this set up but, if anyone was awake and caught the channel entry on oil, you should be sitting on a very nice profit right now! Notice how the decline was originally halted by a 'locked' ADR low. Today I'd watch for a break of that ADR low, then perhaps a re-test before price falls further. Alternative scenario is that ADR low holds and price rises. Due to bias though, I wouldn't be looking to take any long trades.Ignored
Disliked{quote} Are there also numerous channel failures from the ADR high ?Ignored