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Momentum Divergence with Zig Zag Pattern signal #5

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kenorb opened this issue Mar 22, 2020 · 0 comments

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kenorb commented Mar 22, 2020

If we can confirm the divergence between the Momentum indicator and price, then that will be our trade setup. Our actual entry signal will occur on the break of the trend line that extends from the beginning of Wave A and connects to the beginning of Wave C. We will call this the A-C trend line.

As for trade management, we will look to place our stop loss beyond the most recent swing created prior to the A-C trend line breakout. And for the take profit target, we will target an area just inside the beginning of Wave A.

Refs: https://forextraininggroup.com/understanding-trading-momentum-indicator/

kenorb added the enhancement label

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