House price data price action 1 reply
i have few questions,
like, i do get you take H-band, L-band quick entrance, etc
what i do not get is when to go for the long run.
if it is a long wrong, i always come out pretty early by just taking 10pips or so.
Also, i dont quite get the usage of TMA trend.
what are we exactly looking for?
Dislikedwell from your question it shows that you have not quiet read or understood the core of what we do here as its obvious that most of everything we do is built around Price action within the TMA Band to measure the momentum.. but i will just go ahead and assume that you have already read but little understood, so I explain.. but i recommend to re-read the first two pages..
first thing is to recognize the bands position, which a naked eye can tell if PA is moving outside the band or within the band..
neutral (which seems that you know that already)...Ignored
Dislikedon the subject about Jhfx's question..
the chart below is a live example of a fake out breakout outside of the band..
for eg. if it gives us a smbt signal right there.. this should be rejected..
why?.. breakout followed with quick strong pullback and TMA less than 10 pips and soon to be killed..
now this one just by look of it its obvious one to spot but this beast other times disguises this like a monster evil.. lolIgnored
Dislikedshort on cad live smbt..
ps) keep a eye on gu.. it's making possibilities...
move outside but its following with a strong pullback.. tma trend close to 10points.. so if it signals for a smbt make sure all the last minute confirmation is inline such as rf buffer etc,.. bcz the pullback is not too ideal it looks a bit strong and large..Ignored
Dislikedexample of two valid swing outs of the band..
now it just the matter of a valid PB for sbt/smbt trade..
the only problem i see is that it is against the major overall trend, which it don't stop me from taking a shot but a more careful on trade managing department of it..
would you also look for a double top without a previous reaction from the mid band? And then take the shot if candle crosses inside the band with RF confirmation?
PS: Looks like a DT forming on EJ right now, but price still too far away from the band...Ignored
Dislikedno.. if the momentum is there and maintains it by the time it PB's to the mid-band or opposite-band with rf confirmation is good to fly..
I keep it simple..Ignored
DislikedOk, thanks. Did you change your rules then?
In your previous posts I saw some charts where you would have taken the double top with RF confirmation on a mild striking band WITHOUT reaction to the mid band before...see picture.Ignored