EU - let's see if 50 MA holds this fall
Good morning everyone
today morning i was so excited as I saw the balance line dashboard. so many pairs were close to the BL. I placed many stop orders in short time. After normalizing my emotions and reanalyzing the charts I realisized that all the orders I placed donīt fullfill the conditions in the first post. Thank God no one of them was triggered.
To avoid such a too hasty actions in the future I think the idea of a trade plan from Neil would help. So here is the list of all requirements. If someone thinks that one requirement is missed on my list, feel free to add to. (sorry if my english sounds somehow weird or unpolite, not my purpose, im not a native speaker and was bad in school, hope you understand what i mean)
So now here is the list of all requirements
today morning i was so excited as I saw the balance line dashboard. so many pairs were close to the BL. I placed many stop orders in short time. After normalizing my emotions and reanalyzing the charts I realisized that all the orders I placed donīt fullfill the conditions in the first post. Thank God no one of them was triggered.
To avoid such a too hasty actions in the future I think the idea of a trade plan from Neil would help. So here is the list of all requirements. If someone thinks that one requirement is missed on my list, feel free to add to. (sorry if my english sounds somehow weird or unpolite, not my purpose, im not a native speaker and was bad in school, hope you understand what i mean)
So now here is the list of all requirements
- Price crosses Balance Line and closes above[below] it. Possible Setup for buy [sell].
- The Closing Price is close to Balance Line: < 10 pips
- The angle is steep.
- Balance Line is not flat.
- There is a short term trend.
- The 50 sma is below [above] the Balance Line.
- No critical Support and Resistance Levels on higher timeframe in the near
- No News