{quote} SL taken..
great trades will come
{quote} I closed EURNZD trade near TP3 level, +250 pips EURUSD,H1 (SELL): {image} 1- Price is on resistance zone on both chart and oscillator 2- TTI shows down trend on daily and weekly timeframes 3- Candle closed below EMA21 4- Red arrows appears as final confirmation
I think H4's trend is also important that must be sync with D1 and W1 timeframe trend. none of these three TF should be in conflict each other. e.g. for sell each of H4,D1,W1 must be one of SDT(strong down trend),WDT(weak down trend),CN(consolidation). so i'm testing in this mode from now on.
GBPJPY (SELL):
It's not an ideal setup. all conditions met and H4,D1,W1 is also in sync, except that price isn't on resistance zone so it's a Non Conservative trade.
NZDJPY waiting for the break of trendline for confirmation {image}
SELL Watchlist
EURJPY, NZDJPY, NZDUSD, EURUSD, AUDUSD, CADJPY have all moved from aggressive UP Trend to Consolidation Range on the composite TrendStrenght RSI Indicator. All have currently fulfilled all the strategy rules (touched upper Resistance and now going down with orange EMA leading the pack and 1H candle closed below 21 EMA) for a potential SELL
BUY Watchlist
In the same vain USDCAD has moved from DOWN Trend to Consolidation Range on the composite TrendStrenght RSI Indicator. It has currently fulfilled all the strategy rules (touched upper support and now going up with orange EMA leading the pack and 1H candle closed above 21 EMA) for a potential BUY
ADVICE/CAUTION
CONSOLIDATION Range simply means NO TREND yet. Don't jump into trading a NO TREND. Any trade you place based on a NO TREND is simply speculative. Consolidation does not automatically mean a REVERSAL. An UP Trend can continue UP after CONSOLIDATION. Ditto a DOWNTREND. You need a Trend to push the market. A weak UP or DOWN trend is better than a CONSOLIDATING NO TREND. BE PATIENT, WAIT FOR TREND CONFIRMATION
Update:
SELL EU, AU, NU (Broken Daily Pivot & Trendstrenght currently below 50 which is equivalent to SELL)
In all your ways acknowledge Him and He will direct your path.
{quote}ADVICE/CAUTION
Yes, you're right. i mostly meant for weekly TF. if W1 trend is consolidation it don't mean that you can't trade not at all on H1, but it means that overall trend isn't against you.
{quote} I think your ideas on the TrendStrength settings give better confirmations. Generally, when RSI is just begins to go below 50 mark then trends tend to shift to the downside and vice versa for when RIS is just beginning to go above 50 Mark (trend tends to shift to the upside). The Very high time frames cannot be ignored and could be considered as per trend lines and support and resistance but the directional bias they give while trading on the 1 hr usually conflicts. If we decide to what for all time frame directions to align, very good setups...
In all your ways acknowledge Him and He will direct your path.
{quote} ADVICE/CAUTION
BUY EU, EJ
In all your ways acknowledge Him and He will direct your path.
