At 1:00 PM bar close , 30 Min STS is bearish .
Hence no Long entry as per the strategy .
5 Min STS cross over happened but 5 min STS never went in to over sold zone ( below 20 ) .and the Buy is Near the range High ( excluse the first 5 min candle and its clear that 4265-75 is resisting much ) .
Not a convincing Long Entry , No Matter what the end result is
Naresh
Check again my friend....at clsoe of 1300 bar, 30 min stoch was bullish. I can post the charts showing the same too.
Also, Buy on 5 min stoch was not near High(it was close to 50), and definately not overbot...satisfies our system condition
We dont look for zones or resistances while trading this system...
Entry was as per the system, but yes a bit aggressive. In my charts, EMAs on 5 min had kissed 4 bars ago and thats where the risk was.
As Priide had already said, sometimes you can take trades on your discretion and they do work out well too.
My exp with trading made me go into the longs and I posted the same.
Happy Trading