At EURUSD we have a MACD signal.... for me: No Deal!
Market Rhythm:
Market Rhythm:
- Price crossed sma89, pullaway (and broke sma200)
- Afterwards price pullback to ema21 (and broke sma200 again)
- this morning price was pullingaway...
- and now price pulled back to ema21 and we have a MACD Signal
- Market is in Rhythm
- price is above sma89 (mood = uptrend)
- if we take a trade, it would be a countertrend (because of MACD-signal) => sell
Price is now between ema8 and ema21 and near sma200=> so there is no good opportunity in my view....
- price is near sma200 => price needs to decide which direction to take
- price is also arround price-level 1.3000 (psychological level)
- price already halfway and between 8ema and 21ema
- R:R is not good! (SL: last high, TP: max. ema21)
I'm going to wait for the Rhythm (a new pullaway signal)...
ps. : when something is wrong in my decision....eg. did I missed something, am I completly wrong....pleas let me know!!
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You can manage risk, but you can't manage the return