Hello folks could do with some really big help, Iv got analysis paralysis!!! So currently looking at CHYJPY on 17/01/2020, I am using the CCI indicator on a period of 10 setting.
Now on the H1 chart I have clear Hidden Bullish (higher low but lower low on cci) on h4 I got the same Hidden Bullish Divergence forming HOWEVER on D1 I got Regular Bearish Divergence.
What do I do? Fo Long or Short?
What is the reason? Which is stronger h1/h4 or d1??
Many thanks in advance!!
Hi, you need to make research, which settings are the best. Regards Greg
on the 4hr u have a bearish divergence, that might give u a pullback to that 4hr fib to get in with the trend, volume is rather low at the top so that to me suggests trend continuation
1hr also shows bearish divergence and weakness to some extent but nothing comparing to the strenght behind the trend. i d look only for pullbacks on the 1hr and 4hr into fibs to get in with the trend. weekly going up and daily, on low volume, which suggests again that it s a strong trend with little selling at the higher prices, which usually draw sellers. ofc u can trade diveregence of 1hr and 4hr, but for it to be a strong signal, line that up with daily weekly support resistance, fibs, emas to add confluence, and pair that after with price action,trendlines etc… depending on ur method to get into a trend, there s no right or wrong here. as long as u choose the correct side and u give the trade some room to breath according to the timeframe ur trading in.
hope this helps.
cheers
TA is not a DNA identification of what is going to happen. Nor even what is most likely to happen. TA is a guide to the effective application of your strategy. So two traders can look at the same chart and one sees an uptrend that matches his long strategy set-up criteria, the other sees a downtrend that matches his short strategy set-up criteria. They’re both right, they both trade and they both make a profit.
Start with the strategy, not with the TA.
The higher the time frame the stronger the signal, an easy solution is look for set up and trade from 2 time frames ie 4hr set up , enter on 1 hr
