We have different momentum indicators: MACD, RSI, Stochastics Role of thumb: A new high in momentum ▶ expect a high in price A new low in momentum ▶ expect a low in price Diversion: new higher high in price but lower high in indicator ▶ expect a strong retrace in price Momentum Indicator
The Intraday Momentum Index (IMI) combines candlestick analysis with the RSI.It takes into account the open and close price over the course of the day.Technical analysts can use the IMI to find overbought or oversold conditions.Please consider the following:✔There will be more false signals in volatile markets and market collapse.✔Use SLs✔This is good to add […]
Recognise the volatile market. Figure out the trend direction. Open your new positions. HML indicator simply plots the difference between high and low. High readings mean we are in a trendy market. Low readings mean we are moving sideways in a range. My strategy: ✔Combine this with a volume indicator (Like Accumulation/Distribution Indicator) ✔High reading […]
Yesterdays Corney’s speech wasn’t that much interesting. Today we have 2 important events happening for GBP and one for EUR.Let’s see if these events can influence the GBP and EUR pairs. At 15:30(GMT+8)📢 EUR ECB President Draghi Speaks in Frankfurt.We can expect High volatility after Draghi’s speech At 16:30(GMT+8)👀 GBP Consumer Price Index (YoY) (APR) […]
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