bbmac
Veteren member
- Messages
- 3,584
- Likes
- 789
Hi Fish
Im not up to speed with the supp/res in eurusd, but your own thought holds tue for me. Oscillator extremes/divergence that appear at areas that I cannot identify reasons for potential supp/res at, are just pretty patterns. Also I tend to like the 4 cornerstone approach, ie: supp/res, osc div being 2 of the cornerstones of a trade, band deviation and price action confirm, being the other 2. (all within the context of trend) so that you have a confluence of reasons to enter the market at what may be a swing point on your trigger + chart.
For larger targets I like to see my 'trigger' confirmed by a set-up on the next time frame up , the 'intermediate' time frame, and preferbaly on the next/longer time frame you are trading too. This is particularly the case if against trend.
Also it's difficult to tell from your screenshot whether price made an equal hi (probably) which is ok, but it certainly didnt make a higher high which seem to be the better divergences.
Im not up to speed with the supp/res in eurusd, but your own thought holds tue for me. Oscillator extremes/divergence that appear at areas that I cannot identify reasons for potential supp/res at, are just pretty patterns. Also I tend to like the 4 cornerstone approach, ie: supp/res, osc div being 2 of the cornerstones of a trade, band deviation and price action confirm, being the other 2. (all within the context of trend) so that you have a confluence of reasons to enter the market at what may be a swing point on your trigger + chart.
For larger targets I like to see my 'trigger' confirmed by a set-up on the next time frame up , the 'intermediate' time frame, and preferbaly on the next/longer time frame you are trading too. This is particularly the case if against trend.
Also it's difficult to tell from your screenshot whether price made an equal hi (probably) which is ok, but it certainly didnt make a higher high which seem to be the better divergences.
Last edited: