Hi, I have been a silent lurker of this great thread and wanted to say thanks to RJ and all the other great contributors. I haven't been able to watch live charts but here is my EU chart analysis and possible trades taken on yesterdays chart. Any comments would be appreciated.
I start looking for trades form LO. I prefer a rejection from pivots followed by a Matrix signal and the M5 and M15 stoch need to come from OB or OS area. The first vertical blue line is a signal for short trade. PA broke above the daily pivot (blue line) and couldn't countinue further up and went below pivot, candle closed below yellow MA and Matrix all red and M5 and M15 stochastics coming down for OB territory so after the close of signal candle we go short with SL above the previous swing high + spread +1 and our target is S1 ( yellow line).
Second trade is marked by the second blue vertical line. PA tried to break S1 on a few time but failed and made a LH. We get a Matrix signal all blue and M5 and M15 stoch are coming up from OS area and PA closes above yellow MA so we go long on the next candle and SL is below last swing low + spread +1 and our target is daily pivot.
I start looking for trades form LO. I prefer a rejection from pivots followed by a Matrix signal and the M5 and M15 stoch need to come from OB or OS area. The first vertical blue line is a signal for short trade. PA broke above the daily pivot (blue line) and couldn't countinue further up and went below pivot, candle closed below yellow MA and Matrix all red and M5 and M15 stochastics coming down for OB territory so after the close of signal candle we go short with SL above the previous swing high + spread +1 and our target is S1 ( yellow line).
Second trade is marked by the second blue vertical line. PA tried to break S1 on a few time but failed and made a LH. We get a Matrix signal all blue and M5 and M15 stoch are coming up from OS area and PA closes above yellow MA so we go long on the next candle and SL is below last swing low + spread +1 and our target is daily pivot.
Trading can't be taught but it can be learned