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by Marco_Sousa
EUR/USD this morning when NY opened:
You can see 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)
We had a sell signal 20 mins after the NY opened:
5 mins TF
8 EMA was RED
Super Trend histogram turned RED
15 mins TF
8 EMA turned RED 1 candle after NY opened
Super Trend histogram was RED
Hidden Divergence on our side 3 candles after NY opened gave us more chances of success
30 mins TF
8 EMA was RED
Super Trend histogram was RED
When to exit the trade and cash it:
Remember that the sell signal was given at the same direction of the Trend,
1st option exit: When we had Divergence against our trade 2 hours and 10 mins after NY opened
2nd option exit: When 8 EMA turned BLUE on 5 min charts almost 5 hours later NY opened
Medium impact news 30 mins after NY opened were very good to US Dollar, giving us more chances of success.
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