builderall wrote: Sun Jul 24, 2022 8:35 pm
If we had this system last week, the perfect selling point was 164,700, right bro.
In the AUDCHF pair chart we have a clear sell signal but the daily chart is trending up. What do you think next week will be?
AUD/CHF as you analysed already very well has 2 different trend bias on the 4Hour and Daily TF. You generally want to wait that both timeframes are in agreement, but I am going to further elaborate to help you understand the System.
Nr1 -> as shown on the Peak HiLo indicator the higher timeframes are considered overextended,
but the 4Hour still has potential for further downside.
Meaning we could go down till the Support I have drawn.
Nr2 -> the WAE is showing that AUD/CHF is moving currently on rather low volume, meaning taking a trade here is risky.
If you pay attention to the Monthly Pivot you notice that it hasnt been hit yet, if you scroll through your charts looking at WP and MP you will see that most of the times those Pivots get hit at least once.
In my humble opinion I would rather wait for a buy signal (potentially on the break of the channel) or wait till the Daily confirms the sells.
At the end of the Day you have to choose how much Value you want to put on what.
How important is the Daily TF direction for you? (maybe you prefer to look at the Weekly trend direction?)
How important is low Volume for you?
How long do you want to stay in your trades?
etc.
Those are things that I cant answer for you, because you have to find out what fits your personality the best.
Cheers.
You cannot solve a problem from the same consciousness that created it. You must learn to see the world anew