DislikedHello fellow Traders, Can EURCAD be a Short entry on H4 ? on D1 its not qualified, still a buy. I know its a repetitive and boring question. But very important and would like to know how others doing. Robernet mentioned once H4 changed trend we can look opportunities on H1 if D1 is unclear. RH suggested we need to read the Charts on H4/D1 same, if both says same then we need to enter trade. But sometimes he trades with some exemptions based on his vast trading experiences. Please suggest me how we can handle. I added one indicator ( Blue/Red dotted...Ignored
Just to clarify, I mentioned that when I get a signal on the 4 hr I would flip the 1 hr to check the PMO indicator to see if the momentum has changed in my favor. The indicator you attached is a supply and demand indicator. Saying that, you will see price is at a supply zone and destined to go south, the market maker is playing his game but showed his hand with a price action formation called M, indicating the possibility of price moving south. Price crossed the 21 ema which is a good sign and is currently retesting the 21 ema. After the retest of the 21 ema and should price action indicate south, it could be a great 140 pip trade. Also note that CAD relative performance is currently stronger that EUR.
Please remember the system gives a good signal and can be a good confirmation system but you cannot just trade it blindly, I gave you some good pointers, absorb and explore.
Trade Without Fear