Ripper,forexripper wrote:NNBob and fellow traders,
I think I am going to use TMA true values on D1 for trend strength and define trend as correct sequence of DP, WP, MP.
Once price is above / below MP with correct sequence and TMA true showing over or below 0.4 / -0.4 values I will look for entry on H4 with break of DP or WP or 5.1 MA.
TP would be next level and SL would be below / above the D1 candle prior to entry.
I am also looking at Fib levels for TP and SL.
I draw Fib from the high / low of previous trend shown on D1 by TMA Normal.
Will report results soon. For now I have a tip:
I see AUDCHF as breaking 50% fib level (WR1) with TMA true showing strength to go long. Will wait for retracement and go long on this probably next week. TP 1.0460 level.
No trades on Friday for me now.
Thanks for the analysis. I think what you're saying makes sense. TP is just such a struggle for me.
Are you employing any stacking technique (like over/under .8)
I'm trying out my s/l under the entry pivot (whichever's closest to the trade). Might be too tight though
As far as Aud/Chf, are you drawing your referenced fib from .95810? Seems like that's hitting the 50. She's coming back over the daily pivot and all pivots are in order. I might look to enter as soon as the 5ma cross.
Have a good weekend
