Carl_G
Short

GBP/USD: 60 MIN SELL SETUP

FX:GBPUSD   Pound Sterling/U.S. Dollar
The price of British Pound (expressed in US Dollars) is making its way up to fresh supply @1.325 which happens to line up with the MIDAS Resistance R1 Curve (Trend Curve) launched from 2016-06-23 high+Low/2. Momentum is also approaching overbought conditions, increasing the odds of a successful trade.

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Trade active
Where is your stop loss, please? and Take Profit?
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Carl_G shomonrobie
Entry@1.328 TP1@1.3200 SL@N/A
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Carl_G shomonrobie
snapshot
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snapshot


This trend is on 4H hence I will use M15 as my guide post
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dericksim dericksim
MIDAS works as it calculates the average closing price of each candle. Essentially it gives a snapshot of average price of the market. This will only work if the moving averages are in line with the direction. For LONG position (short/medium/long) for SHORT position (long medium short).
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got it thanks once again. For GBP/USD, watch the retrace to EMA 27 of 4H chart. any retrace should stop around there. on a daily chart it will stay above EMA 9 in order for the trend to continue. Cheers and happy trading.
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Carl_G dericksim
Cheers :)
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thanks a bunch, I manage to find it but how to I apply it to a single candle that I want? MIDAS line works wonders when combined with EMA27. People often scoff about moving averages about lagging indicators; in my view, moving averages are the essence of all indicators. I would quote that moving averages is the biological mother of ALL INDICATORS.
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Carl_G dericksim
You have to add MIDAS Bar Number to the chart as well. Then hold your mouse over the price bar of which you want to launch the MIDAS S/R Curve from - A number will be displayed to the right on the MIDAS Bar Number. Open settings on the MIDAS S/R indicator and insert that number.
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Carl_G dericksim
Indeed, MIDAS is phenomenal, especially the T-B Finder Curve and MIDAS Displacement Channel (MDC).
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