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everyone should be aware by now about the 100 point Asian move rule, if your not anytime there is a 100 or more point move during the Asian session the Euro session flops. this morning is true to the rule again.
Hopefully everyone has the 50EMA on the 1508 chart, do not fight that thing. MA's are not directional indicators they are support & resistance like the other indicators
Your best trades will occur for longs a retrace back to support from above a blue cloud and for shorts a retrace back to resistance under a red cloud. Price inside the cloud with the 50 MA running right through the middle of it is not gonna get it done.
Other than "MAYBE" that ABCD around London, I don't see anything really worth trading. I doubt I would have made money on that anyway with that retrace it made after an entry, nor were there any Double Tops showing any divergence to short off of.
After that, unless one wanted to go long on a reversal trade BELOW the 50 on the 1508 after pulling breaking inside cloud, and pulling back to bottom...... after price failed to make a new low of any kind, not even that minor low...... not much shaking.
Here is a setup i was closely watching, the breakout of a falling trend line. This is not strictly one of Charles's setup but one i take when all the '*' are aligned properly as they were here.
Hi all - hopefully these charts are self-explanatory.
I'm posting to reinforce (for myself at least) the importance of using the Filters as Charles has outlined them for this trade setup. These are nuances that are important - in this case, the wide trigger line filter can save you ass!
