Here is one of my favorite kinds of entry.....Take a look at all 3 of these charts; The same currency pair, EUR/JPY and they're all telling me the same thing......to short!
Above is a daily chart and the MACD looks to be rolling to the downside and it formed a nice hanging man...
Above is the same currency, but on an hourly chart...what's it telling you? The same thing, MACD is looking to be rolling over and down...
Yet again, here's a 15min chart, with MACD doing what? Rolling over and down....
Again, this is one of my favorite things to look for when trying to time my entries. Right now, I'm short 1 mini contract and since I've started this post I'm down $5.00. But currencies have such a violent attitude it can swing in any direction whenever it wants....very moody.
And I'm not saying this is a perfect method; but it's something that I like to help improve my "edge"....I hope that all is well and I'll keep you updated on how it goes.
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