dmedin

Look at the enormous divergence on the RSI

Here's what I'd be looking for if Germany was open right now. Since it's the weekend, we'll see a different picture when it reopens. Hourly time frame How it looks on the daily time frame. RSI and MACD aren't positive yet, they're headed that way though.

My brain isn't working properly any more

I would says so, unless you are dealing with short time frames and large sums of money and you are able to be glued to the screen 100% of the time and give it your full attention.

So that's a bearish candle, after an up move that's running out of steam (with small read bodies and long legs), falling back down towards established Fibonacci levels, with a MACD crossing from above 0 and RSI below 50 At one point I had the RSI set to 9, and that additionally gives an overbought divergence (price goes higher but RSI doesn't). This also gives a nice oversold indication when the move down is coming to an end

MACD and RSI are saying the same thing (MACD crosses below signal and RSI drops below 50) What's really useful here though are those Fibonacci levels. (Except when they aren't, like where the big horizontal oval shape is)

MACD? 🥴

That's right, I just got into the habit of saying that

The more I keep thinking about trading, the less I know. It's a downhill process every single day. I am totally clueless now, but I was full of ideas this morning. Who knows?

I'm not sure I like any indicators. Volume maybe? https://nononsensetrader.com/how-to-backtest/ has custom indicators for MT4, so I don't know what those are. I'm not even very fond of moving averages any more. Just Fibs, candle and the RSI? Made money shorting Wall Street here.

Keep going Kathleen 🐮

We'll go long when it breaks 28570 🐮

Next place to look for a rejection (as we only want to go short right now) is the 61.8% retracement over head 🐻

The FTSE might back off the 50% retracement and slide back down again. Hence, on an hour chart, wait for a rejection off that level.

I don't know what my plan is yet. It doesn't look like one set of MAs can be applied across all markets, for example. Intra-day trading, I don't know what's best. Bollinger with RSI? MACD? Using 200 EMA as a filter? Going purely off candle patterns and Fib levels? I have no idea.

Might go short on the FTSE 100 if there is a reasonable red candle near here.

Six more months Tom, are you looking forward to it 😘

I've already fended off the temptation to go straight back into live a couple of times, which is a big improvement. At least six months I would say. I'd like to see if I can grow the £5000 demo account to £10,000 first. I still have no idea what I'm doing, switching views, time frames, moving averages all the time. Not nearly ready for live yet

I think we're headed back down soon, Geoffrey 🤔

Russell 2000 looks really bullish 🐮

Still feel good about this one 😘

A very positive green candle bouncing off 50 day SMA, 20 SMA > 50 SMA, but the MACD is still negative.

Also the Nasdaq is consolidating around 50%, 20 and 50 SMAs, so if we see a nice green candle on the daily chart we can go long with a stop just below 50%

S&P 500 has found support from 50 day SMA, cheers to all those S&P 500 ETF dollar-averaging investors who have made a mint this year doing absolutely nothing 🤣

Let's close out our third DAX short while it's still in profit 🤯