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Originally Posted by ericbach
Hey Simba,
What is going on with the 4hr satl signal lately? Does this mean to just wait for a strong Williams signal and just range trade for now or wait for the big breakout?  |
Hi Everybody and specially Erichbach,
SIGNALS:NO SIGNALS,as I mentioned,in this situation-price below blue Satl- it is better to work on the 5m tf..but as per the rules,if Chand and Satl are in opposite directions..we do not trade..there was an invalid signal yesterday afternoon(would have worked..again) cancelled by the Chand position..again.
We are receiving a lot of info from this kind of contradictory signals about market situation,so,at least we get something from the market
.Please see pic.
Erichbach:Good question,do not range trade..just wait..and you can invest your time by checking in the near past what happened when we had a similar situation of opposition between Satl and Chand..would the signals-taken as range trades,both sides,just the %R-have worked?in what tf?..then please post your comments,but for the moment,when Chand and Satl are opposing..do not trade..and when they are not opposing,but price is below blue Satl or above red Satl..just use the 5M tf..use the 1m tf only when everything is postal card perfect..ie: price above/below blue/red Satl and Chand in agreement.
Take special care today..we have 3 different"USD" events concentrated in time from 14:30 to 15:15 CET..PPI,TIC,IND Production...and then we have
the decision about Japan rates,no fixed time but around 19:00EST..this latest can create lots of noise today in the USD trough USDJPY trading
Enjoy
Simba