DislikedHi all
i am a new trader have been in forex trading for only 8 months i have been reading in your fourm lately and i found it very intersting ,
malcolmb , can u post one more chart for the denmark_trend_new indicator ,i still didn't figure it out clearly.
thank you all for sharing your knowledgeIgnored
red lines are down channel
blue lines up channel
right now top of chanenl breakout lines and bottom of up channel lines are both at 127.14. So if price breaks back above this and looks like at can be sustained go long. other than that you should already be in short form trendline given back up close to 128 , with stop moved down .
If Price action says long set up is good the demark has given us targets 127.36 to 127.46 , which also ties in with new daily pivot.
as i type this price action say i am long 127.14 , and will move stop break even +1 as soon as i get +20 pips
this is how to scalp this on 5 min , but for newbie i would recommend you use it on 15 min and higher for longer term more profitable trades.
Blogging daily now at www.volume.zone