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If you are using one of the simple strategies, you can wait for the signal to play out and then see how the strategy you are using is reacting.
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AUDCAD Slight hold up right on the white line I had drawn. You could see the weakness was not going to happen by the candle formations.
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Which leads to the lesson that understanding what a failure of a technical setup is and looks like affords trading opportunity. That is what we had in some of the pairs affected by the election call.
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I never stop learning in your website here, many thanks to you bro.
maybe you can make a telegram group, it will be more good, and all of us can discuss in there, sharing some strategy, sharing idea, etc and maybe we can grow together. but its all up to you bro, because this free education is already great!
I use New York time. Don 8767 t get too hung up on the details such as time. It is the concept that patterns speak to.
So we have waves 6, wave 8 or 5 and so. It wouldn’t be until wave 5 that I would actually look for some kind of a divergence like we get here on the RSI indicator strategy with that. So early on trend? No. because here’s what you have to understand. Even though well, for example here we get a divergence. Don’t we? Right there. Higher high there, lower high here on the RSI.
So in the markets, in order to incorporate mass into it, we would have to use volume as well. And these indicators do not consider volume, therefore they do not consider mass. Therefore they are not literally momentum indicators. So there you go, another piece of controversy for you from Top Dog Trading.
The links for part 6 and part 7 of this series of videos on RSI indicator buy and sell signals are below, but watch this video first.
it looks like it could be a 9955 +, therefore the intraday might trade with using of stoploss. You can try intraday for above targets.