13 pips on a smooth, rounding bottom.
Yes, and the double Doji in the war zone indicated indecision forming the nice round bottom - right on My Small support line (I am still using this concept with another concept (significant levels). SL should have been just below 21 MA.
On a 15min chart I am playing around with a "break" of the previous candle's high (2nd Doji) once support is found (my entry point) - see on the chart.
Great classical trade - well done.Ignored
Im studing this strategy, and I got a question to do:
In a situation like the snapshot, what I should do is wait untill price goes higher than the EMA21, right?
I think the "bounce" repeats where the trend has already bounced, i.e. if it bounced before on the EMA10 it will likely bounce again on it, but If it bounced in the EMA21 next time it will probably come back to the EMA21 again.
żAm I right?
DislikedLook for the length of the current trend: ·Be careful when the current trend is running for 70-100 pips without a pull-back – trend could run out of steam shortly
just one quick question.. according to the manual in 5 min intraday. the way to count the current trend is??
1 start from daily high to recent candle???
2 start from counting from the cross of 21 and 10 ema to recent candle???
3 start the counting from the candle below 50sma to recent candle???
sorry i am...Ignored
DislikedI count it from the last cross of the 21 and 10 EMA and on backtests I am usually profitable
Im trying to make an indicator for entrance but its not accurate enough yet.
Just another question: For a good entrance, the last movements should have more than a 10 pip oscilation (so when you enter, the high of the bounce gets your TP).
Which would be the accurate calculation? the average from the last 10 bars higher than 8 pips, the latest low to highs higher than 10 pips.... what do u suggest?
(hope to have explained it well, if not i will reask...Ignored
Dislikedgolfer, can this 10ema 21 ema 50sma apply to 15 min timeframe? i found out the signal on the 15 min tf is more stable and less false signal, sometimes the support turn into resistance or vice versa is not nice in 5min tf where it almost look like a pullback to breakoutIgnored
Disliked10 pips on a three sisters formation with a pin bar at the pivot level. I bailed out when the move looked like it was slowing downIgnored