scheeco wrote:Pro Trader wrote:scheeco wrote:Took this one on EJ:
H4 - in the zone
H1 - short MOMO starting 4 candles back with H1 candles not able to close above H1 SHORT MOMO open price
- Last H1 was indecisive with big wick to the top rehected higher price
- bias is short with MOMO
M15 - 2 SEMA formed
- using RAT entry to short
Comments and advise appreciated!
What do you mean by H4 in the zone?
I am quite anal about having a check list of sorts to fetermine the bias of the trade.
So H4 is my first check, as per Dragons advise, is when price is in the body range of an H4 MOMO candle. ( See the RED and GREEN fib lines at 0,50 and 100% levels).
This indicates that price is in the H4 zone - I think there is probably another term but none the less - this is my first check.
And then I go down the Time Frames as per Dragons instructions.
Yes that makes sense now.
I only saw what you initially posted. I wasn?t able to see the larger H4 picture as I?m at work. No MT4 here unfortunately.
Thanks for clearing that up.