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Here's an example from a trade today 5GG...the retrace started...

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W3hunter

13,759 Posts.

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15/03/24

17:22

Post #: 72911121
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Originally posted by W3hunter ↑

Yeah for sure! I'm glad to see your inclination arriving at this too.. anticipating entry has always been a problem of discipline for me..( but not anymore hopefully)..very important to get that MACD confirmed trendline first..( that is MACD crossing over the axis line and a trendline break) ..I set up a temporary trendline over price and keep adjusting the pitch of it each new day till it matches with MACD crossing the axis line, at that point the whole TL can be set tightly over whatever portion of the retrace becomes obvious, sometimes its the whole retrace but often the top is set at the 1st lower high..your right this is really where the correct trigger will be in future...till very recently I wasn't particularly aware of these drawn out bottoms.....well spotted!..FFG today looks exactly like MKR the day before it popped..and how's the sneaky depth to close FFG at 2.5c,...Hopefully MACD crosses the axis on Mon or early next week. View attachment 6037347 View attachment 6037395 View attachment 6037353

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Here's an example from a trade today 5GG...the retrace started on the 2 min chart. I watched it go down to the 65 ema and 62% Fib (roughly) at that point set up a trend line and wait to see if MACD crossed the axis line...nup didn't cross and price went on to make a lower low, so I set a new trendline (note the lower angle this time because of the new information) and waited again . this one triggered a MACD confirmed trade.
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