Could someone please let me know if this is a legit setup.
we have a 3sema, we have divergence, and the macd is ready to crossover to the downside.
I did go short at 133.824 with a 20 pip s/l.
I am on the m2 chart.
I don´t know about the divergence but besides of that i think your entry was valid. Sema 3 occured at the top, First Red HA bar which agreed with the cci at the close (both red), enter at the next bar (that makes the second after the top 3 sema). So now you place your sl and wait.
I think the divergence does no longer apply at this moment since now they both point in the same direction. Is there someone who can give a good example of trading with divergence so Cos can have a look?
ps: Currently i´m waiting for the London open
Enjoy your day, Phil