SFX Divergent Daily Advice

[SoundFX]

I can see that, Woodland. Lots of bearish divergence still in the higher time frames. I usually use the 5M for trades though. Mosad, you might be right. I just need to see some major bullish div to think north for CHF, but my perspective changes with the market every day. I don't try to predict anything too far ahead because the market is too news driven. To me, I can only go on weakening momentum as evidenced by current divergence and for CHF right now, its looking bearish. But that might change overnight. That's what the question mark was for. Ya never know what's going to happen. Gotta ride it every day based on current conditions. I think predicting more than a day ahead is pretty useless. Just my opinion.

-S

[SoundFX]

Also, my special custom 5M momentum indicator just turned bullish for EUR..at least for tonight. Lots of 5M trendlines broken to the north as well.

[mosad2]

Yea sound , u r right
but predicting market direction for several days is so possible
and I think position trading is far more better than intraday trading
,more profitability and less stress
I have seen a couple of traders trading this approach here
Rufffen , MArketwavez and Bobnat

[mosad2]

Originally Posted by SoundFX

Also, my special custom 5M momentum indicator just turned bullish for EUR..at least for tonight. Lots of 5M trendlines broken to the north as well.

Sound do u always use 5m for setting up a trade??

I just use it to pinpoint my entry and exits
to me it's too noisy

[SoundFX]

I use 5 mostly, but often in conjunction with 15. I think if you use the 1M to time the 5M trades, it works well. But we all have differing styles. Almost anything can work well, if managed well. That's the "art" part I think.

-S

[weissdawg]

Originally Posted by SoundFX

I use 5 mostly, but often in conjunction with 15. I think if you use the 1M to time the 5M trades, it works well. But we all have differing styles. Almost anything can work well, if managed well. That's the "art" part I think.

-S

Well said, Sound! I forget where I read it, but it goes something like this: "There are a million different ways to trade profitably. The problem is, they are all hard to find."
Trading is definitely an art.

[mosad2]

Originally Posted by SoundFX

if managed well. That's the "art" part I think.
-S

that's experience
specially when it comes to these time frames

[SoundFX]

Thanks, guys. Here's my CHF chart.