Why is it so hard to follow such a simple setup?
Patience is the key and the goal is to earn money but somehow trading mentality does not kick in an I am trying to become profitable as soon as possible and enter wrong trades.
Disicipline is the key.
For short trades:
1.60 min MACD has to be negative.
2.30 min MACD should not be getting positive from close to oversold levels and should not be oversold.
3.5 min is at the upper bollinger band.
4.There is a candle formation for a close stop.
5.5 min is turning negative
6.1 min MACD is not oversold
Stop When :
*5 min candle close above stop is confirmed by the second candle.
*5 min MACD turns positive.(if market close to upper bollinger band or stop wait)
*Market trades near 5 min lower bollinger band.
Long trades is vice versa.