I added the MACD after noting that the pattern would be a positive divergence, it fit to a "T". I feel that is one of the keys in trading is to get to know the price movement without having to rely on additional indicators.
The prime trade of the day started before the London market was closed, the setup was nice and the index was bucking the London market as well as the TSE. This pattern would be the SPTGD heading down, the London heading up the most likely outcome would be that when the London market closed the upward pressure would abate leaving the SPTGD to continue to find it's bottom.
I am finding less need to label some of these patterns or to even log them as a library of trade setups as they are becoming more and more apparent as I keep reviewing these days and going over the trades and fake trades of each day. Familiarity is the key. I just need to turn the key more often to produce some consistent gains based on these very same setups and calls.
I did figure out one of the reasons that I have not made most of these trades. I feel a need to perform out of a need, rather than just a desire. I do not NEED the income from trading therefore I do not NEED to actually make the trades. Perhaps this is a form of risk aversion. I do have a desire to know how all this works and be able to prove, at least to myself , that I am capable of trading profitably. I am doing that.
Jeff.
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