LeMercenaire wrote:Mira wrote:LeMercenaire wrote:You can also call on some exotic charting you have lying around to give an all-of-a-sudden very clear view of what's going on, when to get in, when to get out and when to sit on your hands...
UJ Daily DOTS Chart + Ichimoku
USDJPYDaily-DOTS+IchiOverview16th-17thOct18.png
Ok dots are too much for me
About the previous post instead, so you look at it more as confluence?
I know that 50% is a point of interest most of the times, but aren’t you looking for a breakout (as in the example below)?
Thanks LeM
8D59FBEB-C3A3-473C-A63A-F596A11DBEAC.jpeg
I would have been running that fib all the way up as price pushed higher.
I look at the 50 as a place where I know something will happen, so pay attention. In this case, the day didn't manage to close below and so I would be looking to go long.
However, I wouldn't be using this one thing there to make a final decision, as I will drop it down the time frames and have a closer look at what's going on.
You can then run a multitude of methods that suit the expectation of a long move - go in looking for a simple RAT move? Perhaps there is a 1-2-3 and / HOLO in there at some point?
How about Momo-Scalp with a long bias?
As always, what is micro S+D telling me?
If price had closed below, I would not be looking long. I wouldn't necessarily be looking short, just not long - not the same thing
I’m getting what you mean, thanks!
50% is a bomb.
Is there a specific place to start drawing the fibo?