1hr neg close then a doji, 1hr lower high in bigger picture. 15 min shooting star. 5 min the smaller bounce from 111.25 is clear suggesting that level would fail. 5 min lh, shooting star little/no lower wick.
We had 2 small loss of contacts in the trade so exited +20 at RN.
Hey V,
ReplyDeleteKind of a general question here...
Noticed that your not using the LWMA's on your posted charts anymore.
Have you now completely switched to the Trendmagic Indy / Supertrend Indy for measuring your PA set ups?
Thanks much for your continued input and support.
Cliff
Hastings, Minnesota
Hi Cliff, welcome.
ReplyDeleteI have the 8 lwma on the 1hr and a MTF equivalent of 1hr 8 lwma on 15 min chart, so I know where it is.
The supertrend (ST) indi (some say TM repaints and ST doesn't) is largely there for trend as a nice visual. ITS NOT the deciding factor in trades AT ALL but may help with marginal decisions.
I DO NOT take trades based on that as you'll see from a counter trend trade posted today. I do like above/below ST as a kind of trend helper. I don't worry if buying and ST is still red. Basically I don't follow systems that use ST and BB MACD.
Its the candles/key levels that are the key and always have been. Other fluff items like using a certain MA can/have/will change because thats not the core of this trading method.
Cool...thanks for the clarity...
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