Scalped using Oanda's order book. Sold on the news and made 8 pips. Anyone using it, can share tips too?
This is how I used it.
I waited for the news and pushed the selling button, because we where near the selling open orders and I exit at the buy orders.
The price was at 1740 when I pushed the button and the nearest order was 2 pips above, but EU had allready made a top on very small timeframe (15 min.) meaning that it had absorve much of selling liquidity and enough to make ten pips. I took profit at 1732 (see red box).
Was my entry premature, should I have waited for the 2 pips (1742), or by observing price action was the best choice?
Anyone using it, can share tips too?
This is how I used it.
I waited for the news and pushed the selling button, because we where near the selling open orders and I exit at the buy orders.
The price was at 1740 when I pushed the button and the nearest order was 2 pips above, but EU had allready made a top on very small timeframe (15 min.) meaning that it had absorve much of selling liquidity and enough to make ten pips. I took profit at 1732 (see red box).
Was my entry premature, should I have waited for the 2 pips (1742), or by observing price action was the best choice?
Anyone using it, can share tips too?
Attached Image
Looking for profitable short term trades ...|
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