Asian pivot holding, going long.
Forex intraday using the 5min chart: EURUSD
post 27.'I will do a chart with full explanation in the next few days'
For a small range, the Asian High and Low is green, for a medium range, it's yellow, for a large range it's brown,for a full move it'll be red.
So then we base the rules around that, green usually means there will be a breakout from, a tight range......
So why the heck did I go long off the pivot, answer to that in the first post, it's because my rules aren't written down, and taking a break just as I was putting it together, not such a good move, so here we are, let's get some done.
General Rules
Look at what the price action is tellinbg you, small wicks we'll take as more predicable and more likely to trend out, large wicks it's more likely to continue in range.
Yesterday's rule.
Yellow Rules.
It's yellow a medium range you can go off the pivots. for now we'll put it at 50/50 for breakout to the extensions, keep an eye on price action and look for double top or bottom support/resiatance.
Green Rules
Ignore Pivot. (I'll put that on the To do List for the indicator, no point in it being there if we don't use it.
It's going to breakout on way or the other, the only question is which way.....
If there is a breakout and then back into range, it will breakout the other way.
Enter trade at high or low to breakout if the general rules apply.
That is some of what I observed running this for days on end on the Strategy Tester.
Red Rules
It's most likely going to consolidate with the high's and low's of that range becoming tighter.
Brown Rules.
They'll come to me...
Ok, the indicators, here's the code, you can then make your own changes if you like, I can't do programming and trading, too much of a distraction.
I think that's it, BSL.mq4 is the EA to go in experts folder then the other mg4 in indciators then the mqh in includes.
That will give you a full test environment in the ST, you can place trades, move sl, I will do video to show, unless someone else can.....????
I think that's it, BSL.mq4 is the EA to go in experts folder then the other mg4 in indciators then the mqh in includes.
That will give you a full test environment in the ST, you can place trades, move sl, I will do video to show, unless someone else can.....????
- #55
- Jan 10, 2023 3:07pm Jan 10, 2023 3:07pm
- Joined Oct 2017 | Status: Trader | 1,000 Posts
Anything above the line is an uptrend, below the line is a downtrend.
Then long off the low, triangle shape for entry, notice how most of the price action is above the Asian Pivot, always look at crossing that.
But first General Rule
No consistent price action, price is bouncing up and down in small range at LO, we can go short at AH.
Going into NY same applies from bottom, go long.
But first General Rule
No consistent price action, price is bouncing up and down in small range at LO, we can go short at AH.
Going into NY same applies from bottom, go long.