As I posted initially I will watch the EMA (10,20,30)and MACD. The 1st signal to open or close is a MACD cross. Then look at the candles and the EMA for a change in direction and support. A more active trader would open and close more frequently to try to maximise profits. I am looking to trade the bigger picture. My method is not rocket science or anything new.
A: MACD cross up. Candles are still under EMA30 so wait. B: Open long in here. MACD still up and candles have turned up to EMA lines. C: The MACD chops around but candles still in uptrend. Dis-regard MACD crosses and hold long. At the end of the arrow the MACD have crosses down and the candles are on the slide. Close long. D: MACD crossed up and the EMA also, open long E: MACD cross down, but candles still over EMA so hold open. F: Candles slipping so close long. Open short. Still open.
At some stage I will post a "paper trade" that I got wrong as I did not stick to the plan. I anticipated the market. Old habits die hard. Cheers Mower
