Hi guys
Just something we need to be aware of...Here is a perfect example of a HGI Mad trade taken on the 1 hour time frame....
EURNZDmicroH1 220716.png
However the 4 hour time frame is showing an Hgi trend up arrow
EURNZDmicroH4 220716.png
What is important for me here is that on the hourly time frame we are coming out of the sixths sell zone (Red) and we are starting to turn down on the daily 533 stochs but there is a but....we need to go below yesterday's open (magenta line) in order for us to have a decent pull back or trend reversal. This is also the sixths target area (green line) and daily support.
I will dump this trade if we go over the red bar that was formed with the red trend arrow and also conflicting signal to the green trend arrow on the 4 hourly time frame...its a 50/50 signal for me at the moment
Tc
Leon
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