The answer is yes if you want a safe entry. The most important lesson to be on the top of your rules set is NOT to try and get the bottom, nor do you aim to get the top. You just want a safe entry and a safe exit. Stick to that rule and you will always protect your capital. You want to be the guy when sitting around the camp fire saying that you always close your trades too early. You don’t want to be the guy that says, “ yeah I hung onto that one too long and gave up all my profits and now I’m stuck”. So to answer your question, yes, please only enter when the candles and the yellow 8ema cross above the pink 20 ema. And if it’s on increased volume then is fairly safe.
Of course none of this is foolproof and can still go the wrong way but at least you can watch it closing using 10 and 15 minute charts and bail if needed to protect capital.
Not sure if I explained it adequately, hope I did or keep asking questions.
Cheers.
PS, practice some trades on paper only for a while and only use live ammo when competent with the system.
NEU Price at posting:
$12.36 Sentiment: None Disclosure: Not Held
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