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by Marco_Sousa
Hey guys, sorry for not posting as much as I prefer, but I would like to show you another example with Dow Jones this morning.
The advantage of using different Time Frames to help us decide when to enter a trade.
In the picture you can see:
All 3 charts when NY opened this morning show us as follows:
Price was bellow the 200 EMA (so we were in a downtrend)
Buy signal was given about 20 mins after the NY opened:
8 EMA turned blue
Super Trend histogram turned blue
When to exit the trade and cash it:
Remember that we were trading against the Trend, so all caution on deck
1. When price touched the Monthly pivot about 90 mins after NY opened
3. When 8 EMA turned red on 5 min charts
Medium and High impact news 15 and 30 mins after NY opened were extremely good to US Dollar, making price cross the 200 EMA to the upside.
PS. 4 hours after NY opened, we had divergence against us on 5 mins Time Frame, but was not relevant because it was not on Overbought territory.
Any questions i am available
Enjoy your weekend
“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
Maya Angelou