ForexMike,
About EURJPY chart : Lots of issues needs to be discussed.
1- I will do the same exercises for private members, in fact they do like you and we will discuss.
2- I just tell you some that hope will help.
- A long range candle often means non-technical market, or a vey important news or rumour and so on. Simply, stand aside.
- Mondays and Fridays as the starting and finishing of the weekly business round are a little different form the rest. In fact they have its own characteristics. Shortly, Stand aside Mondays and look for a breakout/down at the end of session (most of time eauropean)
- You were right about the majority of your talk. But Preferably you should get the direction by two stop orders (buy and sell)
- At the time completely forget about the weekly trend, because it is very long time scale
About EURUSD: One very simple but important rule, when you expect a reversal (I see as VWB here that all of kids look for) and it does not happen it means the trend is very strong and you should follow the trend. I will discuss in detail in the future.
Have a nice weekend
Ibo
About EURJPY chart : Lots of issues needs to be discussed.
1- I will do the same exercises for private members, in fact they do like you and we will discuss.
2- I just tell you some that hope will help.
- A long range candle often means non-technical market, or a vey important news or rumour and so on. Simply, stand aside.
- Mondays and Fridays as the starting and finishing of the weekly business round are a little different form the rest. In fact they have its own characteristics. Shortly, Stand aside Mondays and look for a breakout/down at the end of session (most of time eauropean)
- You were right about the majority of your talk. But Preferably you should get the direction by two stop orders (buy and sell)
- At the time completely forget about the weekly trend, because it is very long time scale
About EURUSD: One very simple but important rule, when you expect a reversal (I see as VWB here that all of kids look for) and it does not happen it means the trend is very strong and you should follow the trend. I will discuss in detail in the future.
Have a nice weekend
Ibo
Quoting ForexMikeDislikedI agree, I am not buying, but just posted it to get feedback on this or any other pair where the 8SMA might be above the 55SMA.
MIkeIgnored