Weds 6th June (D Day). EUR/USD is moving in sync with EUR/JPY, and the Aussie is synchronised with the Kiwi, but these two sets of pairs are polarized with each other. So, the trend for the left-side pairs is up and the trend for the right-side pairs is down. There is no synchronicity on all four pairs, so it will be interesting to see what the 07:00 candle says. Happy trading to all.{image} Below is the result of the 7 am bullish sentiment on all four pairs: It is also interesting to compare this move with what happened only two days...
Scalping the EUR at the European open
Thurs 7th June. This is a near-perfect set of trades with uniformity across my chosen currency pairs. The slight flaw with a bearish 7 am candle was a bit scary, but it left a good lower wick and turned out to be a pull-back rather than a retracement. All pairs performed well with the exception of the Kiwi, but Aussie compensated well. All in all, not a bad mornings trading with the strategy working rather well. Have a good day y'all. 
Tellboy
- #376
- Jun 7, 2018 8:42am Jun 7, 2018 8:42am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
Thurs 7th June. This is a near-perfect set of trades with uniformity across my chosen currency pairs. The slight flaw with a bearish 7 am candle was a bit scary, but it left a good lower wick and turned out to be a pull-back rather than a retracement. All pairs performed well with the exception of the Kiwi, but Aussie compensated well. All in all, not a bad mornings trading with the strategy working rather well. Have a good day y'all.
but according to me, since the 7am candle were bearish on all 4 pairs, the conditions for entering longs were not fulfilled. the truth candle conflicted against the trend direction. so was it not better to stay out ? especially when truth candle was a significantly strong bearish candle not just on one pair but all 4 pairs.
question to tellboy:
on ig index, on a 15 min chart, if you want to check the 7.45 candle, a bit of a confusion as the 7.30 candle will finish at 7.45, and the 7.45 candle finishes at 8.00 am. so if you want to check the 7,45 candle, which candle do you look at the 7.30 or 7.45. as with the 7.45 candle you will need to wait for it to finish at 8am, before checking ?
or do you look at the 7.30 candle, which finishes at 7.45 to see what the situation is at 7.45 i.e. bullish or bearish ?
- #378
- Edited 1:45am Jun 8, 2018 12:56am | Edited 1:45am
Friday 8th June at 06:45 this is the situation:
This pattern suggests that price will channel sideways, but let's see what the 7 am candle says.
Well! I didn't anticipate this outcome: Strong bear on the left two pairs, bullish on the Aussie pair and the Kiwi breaking its daily pivot before bouncing back. Inconsistency is an understatement, but, when we have such a strong momentum on a synchronized pair I have a strong tendency to go with it. Orthodox teaching says 'don't try to catch a falling knife', but when the move is as strong as this on the 7 am candle, it is interesting to note that it will 'always' reach its next significant support level, as if the support level draws price like a magnet. You can bet on it, and this morning I did. Have a good weekend all. (Two shamrocks means successful trades on two pairs).
I'm off to a conference on mental health. Take care all.
This pattern suggests that price will channel sideways, but let's see what the 7 am candle says.
Well! I didn't anticipate this outcome: Strong bear on the left two pairs, bullish on the Aussie pair and the Kiwi breaking its daily pivot before bouncing back. Inconsistency is an understatement, but, when we have such a strong momentum on a synchronized pair I have a strong tendency to go with it. Orthodox teaching says 'don't try to catch a falling knife', but when the move is as strong as this on the 7 am candle, it is interesting to note that it will 'always' reach its next significant support level, as if the support level draws price like a magnet. You can bet on it, and this morning I did. Have a good weekend all.
(Two shamrocks means successful trades on two pairs). I'm off to a conference on mental health. Take care all.
Tellboy