Possible trading for next 24h can be as shown in this 4H chart. Any opening short at actual level with TP @ 1292 and SL @ 1315 or just above descending trend line, can give us a not bad R/R. Just my modest opinion... {image}
You are abs. right mate. ROI is like 10 - 20% per month and can be a lot, BUT, you must have backup of cash if things go wrong. {quote}
especially in this years environment? how much are you risking per trade/ also whats the level of leverage?
This is the bigger picture I am looking at from this years PA using fibs. I don't trade off MAs but I use them on one chart for reference and 200 has been flat for over a month and now has been kissed bang on the 50 fibo. {image}
{quote} I believe a "flat" MA usually never tends to hold and is often false. Moving averages have to be tilted; if one needs to get something out of them! but I like to believe you already know that
{quote} For relatively new traders I would also like to point out that a flat 200 SMA is not a good guide for short term traders. The 200 SMA on the dailly is used by hedge funds and long term investors... where the view is atleast more than 4 months! Note the swing points in the chart below! However they can be used by short term traders; when the MA is tilted and bounces off the SMA as indicated by the smaller up facing arrows in the chart! *TYPO ALERT* meant rectangles
