Disliked{quote} I think that there's been a lot of Euro positive news flow today. That can change the picture in a hurryIgnored
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DislikedNot a good day for scalping the EUR today due to resistance levels on all pairs and bearish candles at 7 am on all pairs. Remember the essential criteria are that the 7 am candles should be synchronized with the direction of the main trend. Going short against the trend is always tricky and can take too long to gain any profit. {image}Ignored
Disliked{quote} Are you using any other indicators to determine the trend, The reason I'm asking is EUR/USD we started with a red candle at 7 o'clock, and apart from the green candle at 7:30 o'clock it carried on going down, The EUR/JPY just seem to go sideways till 1 o'clock and then we had a blip and now it's back sideways movement, I know the rules say these two pairs should be synchronised, but it's pretty hard to stay out of the trade. Anyway, thanks for your great work. I've learnt a lot from the synchronisation of these two pairs, hope you keep the...Ignored
DislikedHi there, interesting thread. There was just a couple of things that I'm not sure about. I've read through the whole thread but it seems that the ruleset is a bit unclear. From what I can gather; - You are looking at the strength meter for EUR pairs to be high for bullish trades and low for bearish but this isn't too important if the 30 min trends are aligned. - You look at the 30 min and are looking for your 4 pairs to be trending in the same direction - You normally use 5 or more commonly 15 min charts for entry - You are looking for a 7am bar...Ignored
DislikedAny recommendations on where I can get that currency strength chart? Any online versions as it looks specific to your trading platform.Ignored
DislikedHi Terence! Great system you have here. I've been testing it for the last couple of weeks with great results. I usually check up to 6 EUR pairs and select the most promising ones (same trends, same 7am candles,etc) I usually end up working with just 4 pairs just like you, never more than that. But sometimes I get just 2 or 3 pairs with the right indications and leave the other ones out and it works. So I Wanted to ask you this: Why do you need 4 pairs to match (the trend, and 7 am candle) and not just trade 3 pairs for example if they meet the criteria?...Ignored
DislikedHi Attached is this mornings trade which was successful, if i could grow a pair of balls and let them run a little longer it would have been even more successful. Not sure it would meet all your criteria but it does seem to be working.Morning routine as follows. 1 Check for any news release 2 Check which currency is strongest/weakest 3 look for similar patterns across chosen currency on 30m 4 wait for 30 min candle to agree with strength table 5 place stop orders on 5 min chart above/below pull back 20SL 25TP 6 Monitor trade. (Then lose your bottle...Ignored
DislikedHi Attached is this mornings trade which was successful, if i could grow a pair of balls and let them run a little longer it would have been even more successful. Not sure it would meet all your criteria but it does seem to be working.Morning routine as follows. 1 Check for any news release 2 Check which currency is strongest/weakest 3 look for similar patterns across chosen currency on 30m 4 wait for 30 min candle to agree with strength table 5 place stop orders on 5 min chart above/below pull back 20SL 25TP 6 Monitor trade. (Then lose your bottle...Ignored