3 losers out of 4
, just canīt come out of this average
, even with rules respected. Will keep trying.
, just canīt come out of this average, even with rules respected. Will keep trying. 
- #403
- Edited 8:05am Nov 18, 2024 7:37am | Edited 8:05am
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
7 trades, 6 losers. I am giving up.
There is no news today so volume would be low during london session by default.
Price also didn't break the recent low or high during london so you should wait for confirmation of a break.
You were trading in a range which would = whipsaw
The moving averages were also very close to each other and not fanned out showing low momentum.
You can lead a horse to water, but you can't make it drink
- #404
- Edited 8:13am Nov 18, 2024 7:52am | Edited 8:13am
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
Below is my thought process when entering signals on NOVA
GO TO 5M Chart - London/US crossover is 13:00 UTC
POST 381 explains this
Below is how it looks on the 1 mintute chart
GO TO 5M Chart - London/US crossover is 13:00 UTC
POST 381 explains this
Below is how it looks on the 1 mintute chart
You can lead a horse to water, but you can't make it drink
- #405
- Edited 8:34am Nov 18, 2024 7:59am | Edited 8:34am
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
If I get a retest then I will look to enter another nova signal.
It is possible price is creating the high of the day before going bearish again so bare that in mind.
EDIT: Looks like its gone off without me lol
It is possible price is creating the high of the day before going bearish again so bare that in mind.
EDIT: Looks like its gone off without me lol
You can lead a horse to water, but you can't make it drink
- #407
- Nov 18, 2024 8:55am Nov 18, 2024 8:55am
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
You can lead a horse to water, but you can't make it drink
- #411
- Nov 18, 2024 10:32am Nov 18, 2024 10:32am
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
Since NY open there have been plenty entries... loads lol
Literally clustered everywhere.
Literally clustered everywhere.
You can lead a horse to water, but you can't make it drink
- #412
- Nov 18, 2024 10:39am Nov 18, 2024 10:39am
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
{quote} for this : the first one no because it only just broke the high. --- how do you assess this? when you say just broke it, should there be a % or something to gage if the break is too small ? thanks
If inside a range 1 of the 2 needs to break in order to start creating a bias to go long or short.
So if we are looking to break structure during an uptrend then you need to mark the high that needs to be broken.
When there is a body break of the high then you want to wait for price to pull back and then for a nova buy signal to appear.
In the case I showed earlier, with gold... especially around NY open price likes find liquidity before it makes a move which means it may pull back and induce sellers to jump on board before it swings higher.
Usually if price wants to go UP it will break the high, then break the recent swing low and then create the real move to go up... (Taking both sides of liquidity).
It's the opposite usually when price wants to go down.
I have mentioned previously, to use this system you need to understand market structure and price action as a foundation.
You can lead a horse to water, but you can't make it drink
- #413
- Nov 18, 2024 1:49pm Nov 18, 2024 1:49pm
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
Just to add to my previous message:
The reason why you want the moving averages to fan out during a trend is so tht 50ema can act as a support.
That way you can be confident with taking nova entries with stops below pull backs.
If the emas are almost flat price won't respect them and basically do what it wants.
If emas are close together or going flat then mark the high and low that needs to break and set alerts slightly above and below.
Then go about your business till you receive an alert
The reason why you want the moving averages to fan out during a trend is so tht 50ema can act as a support.
That way you can be confident with taking nova entries with stops below pull backs.
If the emas are almost flat price won't respect them and basically do what it wants.
If emas are close together or going flat then mark the high and low that needs to break and set alerts slightly above and below.
Then go about your business till you receive an alert
You can lead a horse to water, but you can't make it drink
- #416
- Nov 18, 2024 7:06pm Nov 18, 2024 7:06pm
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
You can lead a horse to water, but you can't make it drink
- #417
- Nov 18, 2024 7:08pm Nov 18, 2024 7:08pm
- Joined Oct 2014 | Status: Cooking | 1,483 Posts
You can lead a horse to water, but you can't make it drink
