DislikedPhillip
Just want to make sure I did not miss any thing. The trade this morning was a trade based on your knowlege or feel for the rthym only. I did not see macd confermation. Is that correct. Or am I reading the charts incorectly?
Thanks for all your feed backIgnored
Jim
Partly it was experience but it was also a close below support that could indicate a move further on. I tought the rule that if price break supp/res then you wait for a pullback to the breakout level and then you enter when price moves away and go beyond the previuos low as per yesterdays trade. The pullback might be in one 4H candle thus not effecting the MACD at all. If the pullback is over 2-4 4H candles the MACD might show a TC.
Look at the 1H candles and you will see the pullback nicely as well as a TC on the 1H for yesterdays trade on GbpUsd
Phillip