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For me, as long as EURUSD keeps above and holding 1,2842, we should keep going up. If it breaks 1,2842 and close (hourly) below, the picture will not be as clear and we could go down to last lows and 1,2691 - 1,2637 - 1,2594.
(....)
It did it. Last low was 1,2780. EURUSD has made a low so far at 1,2794.
We need an hourly close above 1,2842 if we want to go back to the highs.
Let me tell you something before answering your questions as I think you are new here. The recaps tell you the maximum Catfx50 has generated. It does not mean the amount of pips we have made. You should not forget that!!!
If you read the document you'll find on post 1, you'll see that there are mandatory and optional tools.
EMA 120 plays a roll here of support and resistance. If, for instance, you have a validated buy on EURUSD @ 1,2885 and you have EMA120 @ 1,2890; it would be smart to wait and see what happens when price goes against it. So, you can buy at 1,2886, but knowing you have a resistance at 1,2890. It is up to the trader to wait or not.
The same with FiboPivots. I like to see where is the pivot. You may not want to do it, that's why it is optional. The break of one fibopivot it does not mean we will go to the other. We could or we could not. But you can use fibopivots to scale.
Camarilla levels are another tool to tell you where we are according to popular "indicators". You can use them to scale too. Do not trade camarilla.
I like, I feel more confident if when I have a validated catfx50 signal, MaxMoving is on the same side. Some use them to close the trade when they cross against it: they use it as an exit signal. They are optional.
As far as I see, your chart is OK. I think though you are not using the same FiboPivot that you'll find in the zip file.
Nina
Hi
thanks for you replay >>
You said the best time for trading from 8 to 18 cet >> its equal ? for GMT
Would you please breifly explain to me what is the purpose of +0.04 and -0.04 level in the Hist_StepMA Indicators ?
Many thx in advanced
Hi, Ammar!
+0,04 and -0,04 levels are filters. You can use them or you can not. It's up to you. They are here to protect us against false signals, but sometimes they could get you in late though. So, if you see that there is a clear direction, you could not use them, but if you see there is not clear direction, you'd better use them. Anyway, it's up to you. They are filters.
Now, for instance, I have bought GBPUSD @ 1,8905 when histo turned green breaking the pivot without waiting for a new bar and without looking at filters. I have sold half at +15 pips and the other half at b/e +1 now.
When I make the recaps, I try to use filters.
BTW, we should look now at USDCHF. It is at pivot and has support at EMA120. We need that cleared if we want $ down. If it breaks pivot and EMA120, it should try to test fibo S1 @ 1,2271 and that will wend our EURUSD above 1,2842.
Linear Mode
