I don't know where you got that 55ema but it sure doesn't look like the one on my screen. What is your parameters for both of those 55 ema and 200 ema?
I'm guessing they are simple ma?
EDIT:One more thing, where did you get those support, Central Pivot Point, and resistance from?
Vfforexlee,
Another likely reason that my moving averages may look different on the chart is that I "stack" four charts on the screen horizontally, so that I can look at four time frames simultaneously. I prefer this vs. having one chart on the screen, where everything looks "stretched out". By shrinking the width of a chart, all the indicators have more definition, e.g. the stochastic indicator and Bollinger Bands. I'm not advocating this one way or another, in fact the way I set up the look of my charts is probably the exception to the rule.
I got "cold feet" because of oversold stochastics on lower time frames, and closed out the trade. A minute later price dropped through the current floor and may revisit the CPP (see spike on 1 hour chart, 5 hours ago), or even continue lower. Still it's a lot riskier when one enters a trade deep into the move. And anyway, there's another session and another opportunity waiting in the wings.
I got "cold feet" because of oversold stochastics on lower time frames, and closed out the trade. A minute later price dropped through the current floor and may revisit the CPP (see spike on 1 hour chart, 5 hours ago), or even continue lower. Still it's a lot riskier when one enters a trade deep into the move. And anyway, there's another session and another opportunity waiting in the wings.
The move up really started yesterday morning, possibly another reason why the upside played out before reaching intial R1 target tonight. I forgot about that in my upside profit calculation.
