Multi time frame Simple MACD system 823 replies
I see the Cad trade you have taken - 15min 200ema...careful on this one...there is immediate support, plus look at cad's adr - only 55.
Check cad 4hr chart...800ema below which has been very strong support & daily 200ema at current levelsIgnored
DislikedCould the seniors help me understanding why the setup I spotted earlier was not good?
the setup was on USDCAD 15M:
- EMA200 was good dynamic SR in the recent past
- Price stalling just below EM1200 for 4 candles
- nice slope on EMA10
- the trigger was the star that has High and Low, lower than the previous candle's ones
Was the timing wrong and too early?
Was the setup wrong because of the SR marked in the aqua rectangle?
Disliked15 min 200 ema flat so no trend. Price has struggled for 3 days to break below this general area, see your D chart, so theres definitely something up in and around those levels.
Seems like this is forcing a trade a little too much, there have to be better set ups than this. Really hope this is not coming off as sounding harsh. No real trend.Ignored
Further to what PeterE said - the price action prior to your entry should have kept you on the side lines. Trade may work if not stopped already, but choppy range - thin markets - look at the zig zag on 10ema (though overall higher). Can get clearer signals - maybe not today.Ignored
(chopped - no follow through again - slow mkts (gd chances it could move lower but rather not wait in thin mkts) - had 1/2 closes but around same levels - used initial 1/2 close to keep stop at same place ie if that sl was hit would have been overall b/e trade)Ignored