How do you guys trade a market like this (the last 5-6 hours)? How do you identify the small break out that just happened from all the other meaningless up and down moves of the last couple hours. I'm looking at 1min and 5min charts and using EMA = 3 coupled with BB's and buying or selling on the cross of EMA over middle BB. I wan't to be able to interpret general price action better. If you could give me any insight.
there has been a very thorough treatment of this in this thread with several revision points. Too much information to repeat - you have lots of homework to do!
I will do my best to find it. I wasn't going to go through 300+ posts without at least finding out if its here. Thanks, I appreciate you pointing me in the right direction.
From 1 hr chart - break of inside bar (left is 1 min right 1 hr chart) You'll have to read lots to get the others
Sooo many lines. I think I see how it was identified on the 1min (went past previous resistance?) but the hour chart didn't make much sense to me. There were just so many lines. I took out a short position at 1.5480. I'm not an idiot but I rely mostly on indicators and when the market looks like this its difficult for me to do anything. I appreciate your help I know you are all pretty busy.
don't really get the way you would enter, YH. But you would exit after the indictors show divergence (as happened after blowing pass the inverted hammer)?
forget lines and look at what arrows point to the inside bar on the 1 hr buy the breakout the lines relate to prior discussions on structure