Quote:
Originally Posted by Cowaboi
Hi Daxm,
My 4hr chart this morning tells me to look for long entries only at the moment as the MAs are crossed long. Re the MACD histogram, for shorts the bars need to be descending from the +ve side (ie from above it's zero line), if the bars are already -ve when the 15min MA cross, then the set up is invalid.
Go to PipSurfer's blog and click the link on the left to make sure you know his exact rules.
All the best.
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Thanks for the reply. I did misread the MACD reading of the rules.
We are talking about the GBP/USD chart though right? At this moment I have the 5EMA at 1.9733 and the 10EMA at 1.9739. Assuming their values were on opposite sides of each other a few moments ago, wouldn't that indicate a downcross? I fail to see any long indications here.
Sorry for the ongoingness of my posts. I'm really trying to learn this down pat so I can see the correct trends for this system quickly (and accurately).