i ask myself, what do i need to see to make a decision.I believe the most important aspect of finding a good trade is location.We have good and bad divergences all day.Looking for divergences at London extreme/rth extreme is most likely a good start.Look at the cl breakdown here...Is that a takable macd diverg on 5min?And how do i enter on 1 min?The chart offers good enough answers.We place a sl above extreme because we just dont know 100%.
Look at ym setup at rth extreme below...
Entries at extremes dont need to be pretty....
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not a great day.Trying to identify areas of rejection, is always the task.I find that the immediate signal on the 5min is the best.Comparing a level on the 5min macd to a level 4 hours ago dilutes the signal i think.Wait for the immediate 5min to get in line, or pass
look at the last ym....5min rolling over, far from pretty, but 15min was good
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tricky day.Head and shoulders in the middle of rth range.Cl coiled offTL and gave nice divergence...i took a rev hand sh at the highs on aup, and bailed prematurely.Trades during lunch can easily take 1 hour.The nq trade was vs a raging adx(50)Also, a nice setup at London lows on 6b, which i missed ...oy..That trade , the macd was screaming bottom.
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The diverg DB was atrade coiling off TL,always be aware of a head and shoulders formingon every diverg DB/DT
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