This is a risky low probability buy signal - but with corresponding low risk
Momentum Pinball ; modified ROC function ( see book Street Smarts) shows oversold on 4 hourlies < 30
looking for a break > first 4 hourly bar @ 0.9429
targets shown above, once hits next resistance bring stop loss to break even...
Also 80-20 strategy, as big down day opening in upper 20%, closing in lower 20 % after multiple days down reducing in range decelerating...new 20 day low always risks correction ;
then looking for similar entry criterian opening bars of new day > high with stop-loss below same bar for small risk...
can re-enter if stopped out, but only once !
Momentum Pinball ; modified ROC function ( see book Street Smarts) shows oversold on 4 hourlies < 30
looking for a break > first 4 hourly bar @ 0.9429
targets shown above, once hits next resistance bring stop loss to break even...
Also 80-20 strategy, as big down day opening in upper 20%, closing in lower 20 % after multiple days down reducing in range decelerating...new 20 day low always risks correction ;
then looking for similar entry criterian opening bars of new day > high with stop-loss below same bar for small risk...
can re-enter if stopped out, but only once !
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.