Having rushed over the last few days to get the fundamentals of the system out there for you, it's now time to look at the set-ups each day as they happen.
My timezone is GMT+8hrs, and I trade between 8 and 12 in the mornings only. It's not perfect for everybody, but it suits me quite well.
Here's the 15m chart for this morning
Following a 50 tick move on Friday we find the price now consolidating. The 15m trend (red ema) is above the 60m trend (blue ema) so we are only looking for buying opportunities at the moment.
However, right now our immediate trend (green ema) has dipped below the red, the MFI is below its blue average also so it's a waiting game.
What I would like to see is the price to push above 9.785 and this will give the correct average formation and more than likely a signal on the MFI also.
If the price drops below 9.770 then there is a strong possibility that the red will cut below the blue and present selling opportunities.
When something occurs I will put another post up, in advance.
Feel free to subscribe to the blog. You will be alerted by email when I next post. Since the introduction to the system in already up I will only be positing trade ideas which you can trade on a demo account in order to get a feel for the system.
If you don't have a demo futures account then feel free to search for Global Zen Trader and you'll get a free $50k account
Have a good morning
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