OK - no harm in going over our strategy again.
What we are doing is looking for good bounces off our DASR on the 4 hour chart. So it makes sense to be continually looking at our 4 hr charts. It also makes sense to be looking at as many trading pairs as we can that seem to be IN A STONG UPTREND or DOWNTREND. Now when we see that price action has bounced nicely off the DASR on the 4 hr chart (maybe it's already well on the way up or down) we can then go down the the LOWER TIME FRAMES to find a good point where price may be just about to OR has already bounced off the DASR on that lower time frame! We can then enter our trade hopefully for a nice few pips.
Tracking our trade once opened probably needs to be refined a bit - cause even I lost quite a few pips today closing out my EURCAD,AUDUSD and GBPJPY trades way too early! So we'll be looking at that tomorrow
rgds
What we are doing is looking for good bounces off our DASR on the 4 hour chart. So it makes sense to be continually looking at our 4 hr charts. It also makes sense to be looking at as many trading pairs as we can that seem to be IN A STONG UPTREND or DOWNTREND. Now when we see that price action has bounced nicely off the DASR on the 4 hr chart (maybe it's already well on the way up or down) we can then go down the the LOWER TIME FRAMES to find a good point where price may be just about to OR has already bounced off the DASR on that lower time frame! We can then enter our trade hopefully for a nice few pips.
Tracking our trade once opened probably needs to be refined a bit - cause even I lost quite a few pips today closing out my EURCAD,AUDUSD and GBPJPY trades way too early! So we'll be looking at that tomorrow
rgds