Swing trade (Buy/Sell) with important entry confirmation.

I expect this pair to open below the previous close. If this occurs a late sell signal will emerge on my MACD set up. ADX looks like its setting up for a divergence as -D is crossing up on +D at a near 180 degree angle.

If this plays out I will enter an initial buy and close out at my 12 am time frame to prepare for the short.

The idea of my timeframe strategy is to yield maximum pips within two trades. 5pm-12am and 1 am to around 8am depending on how pullbacks play out.

评论:

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Although market price opened above previous market close price the bears pushed price down to initial market close. This created the divergence followed by +D crossing up through - D on MACD indicator. Two strong signals to place a buy.

I expect this trend to hit the 12 am pullback time and I will set the swing for a sell if indicators play out.

评论:

I mentioned in my EUR/AUD trade update that a common 9pm (US time) pullback pattern emerged among many pairs. Furthermore these pullbacks were engulfing candle close outs.

Using my MACD indicator i noticed a slight divergence after the 8pm candle closeout triggering my sell entry shortly after 9pm open. Normally I would wait until the 10pm close out to determine the trend change before entering but the divergence signaled exact entry point.