Friday 26 September 2014

R+0: Failing to Plan

It's all very well saying you're going to remove the 20EMA, but if it's the basis of all you setups (like it is mine) you're kind of fucked if you haven't prepared some new ones. ;-)

Now this might come across quite serious but while writing this I am actually quite amused and grateful that I spotted this pretty much immediately.

Q. how much probability do I need to enter long or short? In my 20ema setups I was getting price to touch a S/R area + the 20EMA (in my eyes 2 bits of evidence) for a valid setup. If I remove the 20EMA what am I going to use instead to strengthen the trade (or maybe more importantly) my resolve?

None of my 20ema setups occurred in this session SO I'm not giving myself too hard a time. I did spot some other trades BUT these (at least in my head) required the 240EMA/H1 20EMA and surely in essence this is the same a trading with the 20EMA as it's just another EMA. 

Part of me is thinking: 1. trade off 20EMA+S&R in trend. 2. Trade 240EMA+S&R in sludge (like today).

EJ Obs:

EU Obs

GU Obs

UJ Obs


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