Anyone got trades in this Session? 11 Feb 2016? For me was hard this session.. i didnt found a good setup. If any of you got a trade. Please share the trade and the reasons so everyone we can learn. Thank you!
Possible buy coming up; 1H 4 Horsemen up trend with Purple/EMA crossed; {image} 2H Purple crossing White and eliminating PSAR; {image}
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I am not sure if is worthy to go long......there is strong downtrend....yen is very strong this days.....and notice that the price is just on historical resistance
{quote} Hi there. there is downtrend on all 3 charts. i thought dana taught us never trade against the trend when all 3 charts are in trend? Also, even if you had opportunity of a long here, would you not need consistency on 2h chart also? and what about the parabolic flip? awaiting ur thoughts...
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We are no longer in a down trend but rather in consolidation, so we can now trend both ways. Buying from support and selling at resistance.
The 2H is showing a cross of White/Purple which also eliminates the PSAR as resistance. The 1H is showing a up swing with support from Smooth.
If you are in the UK and your broker time is also set to UK time then your 1700 Sydney open should be at 2100 UK time.
I also found today to be difficult to trade, especially once the down move had already started. Could not figure out where resistance was so that I could sell and join the down move.
{quote} We are no longer in a down trend but rather in consolidation, so we can now trend both ways. Buying from support and selling at resistance. The 2H is showing a cross of White/Purple which also eliminates the PSAR as resistance. The 1H is showing a up swing with support from Smooth. If you are in the UK and your broker time is also set to UK time then your 1700 Sydney open should be at 2100 UK time. I also found today to be difficult to trade, especially once the down move had already started. Could not figure out where resistance was so...
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thanks for that.
my broker is 2 hours ahead so it should be at 11pm uk time then?
as for the trends again, im seeing ROMAR is above EMA in all 3 charts, so i would have interpreted that the general trend was down in all charts and therefore we should be looking for short positions?
{quote} We are no longer in a down trend but rather in consolidation, so we can now trend both ways. Buying from support and selling at resistance. The 2H is showing a cross of White/Purple which also eliminates the PSAR as resistance. The 1H is showing a up swing with support from Smooth. If you are in the UK and your broker time is also set to UK time then your 1700 Sydney open should be at 2100 UK time. I also found today to be difficult to trade, especially once the down move had already started. Could not figure out where resistance was so...
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Nice analysis, I too had trouble figuring out how to enter a down move when it continues to keep going without any significant pullbacks.
Correct me if I'm wrong but this is in a very tight consolidation. No short trade with purple and white where they are and no long trade that's safe since H2 PSAR hasn't flipped up like H1 is. I'd wait for H2 PSAR flip then trade off support. Anyone agree?
