LeMercenaire wrote:One to keep one eye on while we re-scan for another opportunity.
Whats about the NZDUSD?
It depends on how aggressive a mood I am in. I have been known to go in as the histogram's have just been about to change, so you would have got in before the big momo candle off of the ema. That is more of a scalping-chart move though.
After that, there are various points of entry. For instance, you could wait for the first 50% retrace, though in this case that doesn't come till a good bit later - doubling up as the major rejection.
This also brings up a secondary point, in that if this follows the style often seen on the scalping charts, the first move will reverse back and the second entry is actually the sustained one. Nothing to say you can't / shouldn't go in early, just that I'd be prepared to take what I can and get out, then potentially get in again.
Stops can be set in all number of ways, again depending on your level of aggression. Fibs, Z-Lines, S+D, H/L are all valid and just depend on your surroundings at the time of entry. For me, I must admit I find stops difficult to judge if I have a very large range candle in the mix. If I had managed to get in on that early entry, I'd likely use a fib retracement kind of stop.
Oh and I just checked - the histogram is the same settings, 26, 12. 9, (0).
forexhell wrote:cT_cs_3400674_NZDUSD_2019-02-05_10-11-27.pngLeMercenaire wrote:One to keep one eye on while we re-scan for another opportunity.
Whats about the NZDUSD?
Columba wrote:So, there are several pairs worth watching at the moment (mid-afternoon in UK; mid-morning eastern US)
A. Lower MACD above the line, upper MACD below but rising AND P at or near Kumo edge making a bounce up quite possible for entry: CdJ, CdCf, NJ
B. Lower MACD below line, upper MACD above but falling AND P near Kumo edge suggesting drop possible: EN, ECd
The uncertain long term issue here could be how many of these are suitable for the LeM H4 approach. Maybe most.
And then, of course, P must cross the 30 and T-S in the appropriate direction.
My point is only that there are things out there to put your scope on and check out. Surely the AU remains one to watch, but it is not alone.
Further, there are some others with P fairly well centered in the Kumo that seem to have the right MACD look but likely need to move a ways to really track them closely.
Just trying to raise interest a bit. And while we wait for a qualified entry on H4, we can snipe away at TROs lines of choice: BZ, WZ, Rats, HOLO, Turn trades . . . whatever you like! And don't forget that Dead Zone from LeM himself. Too late today though, but the UCd worked OK today as it often does.
Columba wrote:Did someone say horizontal lines? Seems we have one as Price crosses the 30 (draw one there) and with the cross of the T-S which will normally come earlier. HLs are everywhere, we just need to look.