Disliked{quote} Dear ken, I am junior too. First MACD is lagging indicator and master FTI does not recommend using it (or most of them for the matter). Second your trades are too close. First try it out in bigger timeframes. I can see your chart its a sell off. So you would have taken the highest of each retraces. I guess thats what master does.Ignored
Dear Pannet,
Thank you for your insight. Just to confirm my understanding. Master mentioned that it is OK to use indicators to confirm our price action readings, just don't depend on them. How far apart should the trades be?
I didn't explain my thoughts clearly in the previous post. In the H4 chart, I see a lost of momentum going on. However, price will move upwards before large selloff would occur. So, on the M5 chart, I'm looking for buy entries. Scout 1 is to establish position, when position is in our favour, we add Attack 1. However, price move against us and we conduct Rescue 1. At point F, we close all trade as rescue should be swift. I turn Rescue 1 into Scout. Close scout at last due to fatigue. Am I doing it correctly?
Dear V,
I've read until the 3 Kingdoms. Dare not proceed with 3 Kingdoms as I'm still struggling with the previous teachings. Would like to confirm what I understand before proceeding to the 3 Kingdoms.
Cheers,
Ken