Friday, April 21, 2017 11:00:51 AM
Increase your odds for initiating successful tradea ...
You can trade off of a single chart and complete winning trades...but using multiple time frames
can greatly increase your odds of taking winning trades while using very tight stop-loss protection.
The WHITE arrow shows the entry signals on the longer term 60 tick chart (also transfered to the shorter term chart).
1) Both the TRIX histogram and MACD histogram show divergence to price.
2) The MACD EMAs show divergence at the two consecutive price lows and are sloping upwards.
3) The stochastic is in the over sold area and the "HOOK" paintbar printed.
The LIME arrow shows the entry signals on the shorter term 30 tick chart (also transfered to the longer term chart).
1) Price put in a higher low forming an MOF pattern
2) The MACD EMAs were sloping upwards as the stochastic "HOOKed" up forming an MT SLING pattern
In my experience, combining the signals from both time frames enhances the odds of a successful trade.
Knowing that an imminent trend reversal was suggested by the 60T divergences and entering on the signals from 30T
works in your favor more often than not. When used together, Divergences, MOF's and MT SLINGS are very powerful signals...
AND
Entering while price is still below a down-sloping trend line allows you to front-run price reversals
while precisely picking your entry price and controling potential losses with a very tight stop-loss.
You can trade off of a single chart and complete winning trades...but using multiple time frames
can greatly increase your odds of taking winning trades while using very tight stop-loss protection.
The WHITE arrow shows the entry signals on the longer term 60 tick chart (also transfered to the shorter term chart).
1) Both the TRIX histogram and MACD histogram show divergence to price.
2) The MACD EMAs show divergence at the two consecutive price lows and are sloping upwards.
3) The stochastic is in the over sold area and the "HOOK" paintbar printed.
The LIME arrow shows the entry signals on the shorter term 30 tick chart (also transfered to the longer term chart).
1) Price put in a higher low forming an MOF pattern
2) The MACD EMAs were sloping upwards as the stochastic "HOOKed" up forming an MT SLING pattern
In my experience, combining the signals from both time frames enhances the odds of a successful trade.
Knowing that an imminent trend reversal was suggested by the 60T divergences and entering on the signals from 30T
works in your favor more often than not. When used together, Divergences, MOF's and MT SLINGS are very powerful signals...
AND
Entering while price is still below a down-sloping trend line allows you to front-run price reversals
while precisely picking your entry price and controling potential losses with a very tight stop-loss.
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