nmike

EUR USD sample short term set up

FX:EURUSD   Euro / U.S. Dollar
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This set up usually best after a steep decline or a strong run up. The main thing to look for is DIVERGENCE. You can use other momentum indicators to spot divergence. Here I've used a slower momentum TRIX and a faster momentum StochRsi. When averages are too far apart that is also is a sign that price has gone too far away from the mean so it often signifies overbought or oversold conditions,when they squeeze tightly together it signifies indecision (flat market).

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Long term chart 1w 2w work with these parameters ?
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nmike QuantitativeExhaustion
yes


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nmike QuantitativeExhaustion
....divergences must be supported by reversal candle patterns
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I decided to take out the 30 ema so that we have a set of 2 averages,easier to see the activity between the short term 10&20 and the longer term 40&50 and it looks a bit cleaner
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High probability reversal and or continuation set up sample: Bollinger Band squeeze + significant positive divergence
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>>>> another sample set up, see bottom of chart
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>>>>> more short term example set ups
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