Now I never called anybody goats or any names .Why is goats offensive anyway?
I would feel pretty jolly , if someone mucked me as a goat.
I am here to learn from the intelligent traders like yourself ,example about price once rejected on stocks stays rejected , but having this information also creates a conflict in trade execution if market does not repeat this rejection , and creates a new trend instead.
I'd like some thoughts on my system please if you can humour a noobie
Using the 10 min and 5 min charts on the FTSE/DOW (DOW needs more testing and control over leverage)
Look out for a combination of:
Engulfing candle of min 5 points on FTSE and 10 points on DOW
MACD about to cross over
RSI around 60 or 20 region and turning in direction of trade
Stochastic around 70 or 30 and turning in direction of trade
Enter on break of engulfing candle (within 2 candles)
Stop 3 points above engulfing candle (5 on DOW)
Target - length of engulfing candle or if in direction of overall hourly trend or bouncing off a resistance/ support area let it run and move stop to b/e after bar length