bnaimy
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Bashir,
Thank you for the clarifications.
I understand that the white line was major support but you went short above it at the 50EMA on the 1min. Is that risky to go short while above a major support or in this case was there enough space between the 50EMA and the white line?
One other thing. So the only time you can buy on the 15 EMA support in the 1 min chart now is when the 10, 30 and 3min are all up? Otherwise you must buy on the 50EMA while using the 3min to fine tune your entry?
Fianlly which takes precedence the support/resistance of the moving averages in the charts or various support/resistance that you locate visually on the charts? In other words when you visually identify an area of support or resistance you must take into consideration how it might affect your long or short trades that are based on the system's EMA support/resistance lines?
The distance betwenthe white line and where i whent short had a very big distance, so it was not risky at all.
Only time you can buy on the 15ema in the 1minchart is when 10 +3 is up, if he 30 is up then great but if not then thats ok. The most importent stochs are the 10+3 for you.
You can buy at the 50ema when 10m is up or both are up , and when 3min is down you give it some time to toutch that 50ema and then go long. Dont go long at the 50ma at the first oportunity, especially when only 10 is up and 30 is down. IF both 30m and 10min was up then you could have taken it long at the 50ema right away, chance of it going lower is less.
The 30min adds alot more secureti when taking trades, when only 10m min is with you while 30m is down then be carefull with taking retracemnt, give it 1min to test that 50ema, and then go long. Otherwise you risk going long and then itbreaks, and then ur trapped and cant get out.
With regards
Bashir Naimy