When I first got a niche for FOREX the first thin I noticed was huge pivots with any given pairs at 2/3am (Ideal trading time for Asian session).
That being said along with the knowledge of this key pivot time, my RSI and MACD indicator correlate immensely with these pivots. This idea is an example.
Presented is a 1 hour chart buy analysis for EURCAD. Previously we saw low volume consolidation along support. 2am wick serves as our first potential indicator for reversal as MACD/SIGNAL made a cross and are shooting for 0 line while RSI breached indicator resistance. Both indicators sentiment towards a buy.
We then see a significant increase of buyers volume. We can sentiment buyers control until we observe our MACD play out. If MACD/SIGNAL make a full cross through 0 line we are then watching our take profit targets. If MACD/SIGNAL make a pivot immediately prior to touching 0 line we then observe for a full pivot or pull back by observing our 4 hour chart. Close out either way for maximum profit and renter at pullback/ next support retest.
Stop loss below current support with a bar close out.
Please comment with thoughts and ideas. Thank you.
That being said along with the knowledge of this key pivot time, my RSI and MACD indicator correlate immensely with these pivots. This idea is an example.
Presented is a 1 hour chart buy analysis for EURCAD. Previously we saw low volume consolidation along support. 2am wick serves as our first potential indicator for reversal as MACD/SIGNAL made a cross and are shooting for 0 line while RSI breached indicator resistance. Both indicators sentiment towards a buy.
We then see a significant increase of buyers volume. We can sentiment buyers control until we observe our MACD play out. If MACD/SIGNAL make a full cross through 0 line we are then watching our take profit targets. If MACD/SIGNAL make a pivot immediately prior to touching 0 line we then observe for a full pivot or pull back by observing our 4 hour chart. Close out either way for maximum profit and renter at pullback/ next support retest.
Stop loss below current support with a bar close out.
Please comment with thoughts and ideas. Thank you.