hi guys just wanted to update on my trade and the reason behind entry/exit
like I have been mentioning in here that togthere with Aus system and two other systems I follow along , I also use 50ema and 100sma particularly in 4hr.1hr,30 min TF's and I handle them as strong support/resistence levels.
Anyways for people interested and who have been asking me about the use of these MA's- here go--a pic will say a thousand words
I posted my entry (see preceding qupte) where it bounced off the 50 ema at 231.25 and I needed a t/p set in only under 100sma at 234.50 and I went to sleep and woke up today morning with this last commerce closed for 325 pips.
Know lookin at the charts I understand this will go up for sure--but im glad my position is shut for the weekend--ill just reenter, ideally with a better price nxt week.
The reason behind this posting is to show how this 50ema and 100sma come inot play can return from the charts and look what happens about these regions particularly in 4hr, 1hr and 30 min Tf's and examine the candles open/close above/below them
enuff said--must move--will leave with this pic:
ps-- another purple arrows are the bounce at/near 50ema on 4hr
enjoy