As per my previous ideas on this pair, I have eventually had some success with this sell setup. Went against for a while and there would have been some stress involved, but over the weekend, there was anew sell signal. And when this trade is taken as per the notes on the attached screenshot, and the numbers punched into the multi trade spreadsheet, you can see overall break even was achieved quite easily. That is marked by the yellow dashed line.
This is a demo only to see if my method works on other instruments other than Forex, which I normally trade. I'm a big believer that I can just about work my way out of any hidden divergence setups on Forex, but not too sure about other instruments. Ideally you would want to get the trade direction from the get go, but as we all know, this does not always happen, so you need a plan B, whether that be a hard stop or some other way of managing the trades. This is my preferred method. And as long as the MACD Platinum stays above the zero level, no action would be taken on these trades as yet. Once it does cross that zero level, then I can have a look at some trade management, where I can get a little creative on which trades (or partial trades) I wish to close and stop placement etc. And jst a side note, boy did it bounce off that $10K level. Cheers.
This is a demo only to see if my method works on other instruments other than Forex, which I normally trade. I'm a big believer that I can just about work my way out of any hidden divergence setups on Forex, but not too sure about other instruments. Ideally you would want to get the trade direction from the get go, but as we all know, this does not always happen, so you need a plan B, whether that be a hard stop or some other way of managing the trades. This is my preferred method. And as long as the MACD Platinum stays above the zero level, no action would be taken on these trades as yet. Once it does cross that zero level, then I can have a look at some trade management, where I can get a little creative on which trades (or partial trades) I wish to close and stop placement etc. And jst a side note, boy did it bounce off that $10K level. Cheers.