20/02/2015 Observations

PG is going sharp down.

Apparently relying on only the MACD does not work.

What is obvious is, in case there is a min 5h trend ,60 min MACD breaks up from OS or Breaks down from OB will give great trade setups.

5h -day- week up trend, wait for 60 min MACD breaks up from lower bollinger band of 60 min chart with a target to upper bollinger band.

If the upper frames confirm the trend better.
Meaning if there is a 5h up trend and weekly down trend the break momentum strength is lower.


So entry conditions:

1. Find out the trend being minimum 5h preferably confirmed with upper time frames.
2.Wait for 60 min break.
3.Check if it is close to the lower bollinger band in the 60 min chart for long trade.
4.Target counter band.
5.Stop 60 min breaks down.