Quote:
Originally Posted by PIPology
That is what I call "feeling the market"  That trade was great for you. I didn't take it because I wasn't in from of the PC. You can notice that the RSI and W%R don't even touch so there was hope for a continuation  |
No they did not touch but W%R continue down from there and touched RSI. It made me a bit panic at first, but I have learned so far W%R shows next move pretty exact. And I was behind the screen to get out, I risked my position and it came out great. It never touched my SL, but it was not looking good when I left the screen. And I didn't wait for next candle to close and to exit, because in that case I would make a draw down. I waited, and once more W%R was right. I attach next trade that evening, I didn't take it, because my currency meter was showing me that these 2 currencies were equally strong, but W%R showed me the way to go again.
I am starting to find this indicator great, the only problem is, you never know, weather is going to go on in the reversing direction and cross RSI or it is showing the reversal. TO know what to do in that moment is most important. But nevertheless I think even if it crosses RSI it is showing that reversal is coming anyway. I will observe it more, if somebody has any other idea please you are welcome to share. What do you think about this PIPology?
The trades I didn't take but worked later that night: