1. Is there volatility in the market.
2. Direction price is moving.
3 (probably a sub of #2) the momentum behind the direction.
Secondly, you need confirmation on at least 2 time frames, I use three for conservative purposes but when I trade I use most of my account equity because they are very solid trades.
Emotional discipline is the last key to the puzzle.
what do you use to determine if there is volatility in the market?
If you can explain more detail, really many people appreciated that
Why the Price did that?
EUR-JPY DAILY CHART
WP= weekly pivot
WS1= weekly support 1
RJ1 and RJ2 = rejection of the weekly suppport 1
as far as i saw there was no significant news releases on friday the 25th of feb.
What made the price behave like that,what was the point of rejecting the weekly support twice just to came back in a very fast manner?
Well i dont have a clue why it did that,for me the trend is up it found support twice,rejected the level (ws1) just to came back in this manner?lol
there must be something,any suggestions from you people??
I agree price is the best.
BUT you can't say it's the ONLY leading indicator.
How about divergences?
well the price on eurjpy is currently higher than the last 3 previus days
am still looking to find what caused the big move down after 2 masive rejections,the news that day were not that flatering for the euro but for me it shouldnt justify that drop in that maner
as about divergence,for me its useles by it self without price action confirmation