Set-up isn't as perfect as the last time. I don't have the smooth downturn, nor a smooth break. Blue bar 2 hours before the event may be the signal that it's not going to be clean.
But look at that reversal. The lines touched, I had a small red candle, MACD right at the crossover, CCI right on that boundary, and bam, it reverses. I backchecked and noticed this one a few hours ago. That was my complaint about Moving Averages crossing, or about to cross, and the opposite happened.
Obviously, because of this, i should go after examples like the top one, where the line is smoother and less shakey, with better candle patterns. Also on further review, 120.55 is a 1hr support. I had read something about if the MACD crosses over,and immedialy comes back, you'll have a good play for pips, think you need it in conjunction of something else.
It just goes to show you, Just anticipating a moving average crossover isn't entirely enough. I'm only going to do clean breaks and patterns. And if I'm wrong, tell me why it seems like I have to be so picky on these?
BUT, if you look to the left at around the 2am area of FEB 6th, the MAC-D wasn't at the line yet, but the reverse, break, and crossover, candle, and CCI looked good.
Looks like 20 pips.
New focus, MA Crossover play on a "trend", not after any sideways movement.
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If you use Stochastics and RSI instead you would have gotten no signal in this example as the RSI was above 50. But the 2am example I noticed in the photo has a nice RSI above 50 and Sto's uptrending. But now you're getting too many indicators!
But what is CCI except being almost the same thing.
Back to Basics; Moving average
