Don't be in any hurry to make a trade as even the best traders make mistakes. Put the indicators on a 5M, 15M, H1 and Daily. The Daily will show the prices likely overall direction for the future. The H1 will give you more of a "What's Happening Now". The M15 will show all the price's oscillations but don't get fooled by them. The M5 is where you will make your trades after confirming with the other charts.
On the M5 add a simple moving average cross such as a EmA-3 and a SMA-5. When you see the cross you can then make the trade. You will also see the stochastic high low cross at the same time.
I cannot post on Mer's thread as he has blocked me but here is a brief explanation. Place these indicators on your chart.
1. Shi-Channel indicator.
2. Semafor indicator.
3. Stochastics high and low indicators in the same panel.
Very simply put Mer's breakout strategy is directional challenged and will make a buy long when the price is already at it's peak and inversely make a sell short when the price has hit bottom. What you need is to gauge the when part of the trade as well as direction. The time around the London Open provides the volume boast to the land of profit.
It's much like driving your car. Determine your direction, put the car in gear and hit the accelerator.
You'll notice I said around the London Open as the increase in volume starts before the LO. Sometime during the London session it gets a turbo boost.
