In this current volatile market....and with this pair, I think the best way
to play it is scalping using the smallest TF's ( 1, 5, 10, 15 min) as indicators
for price action, entries and exits and using 30, 60, 90 min indicators for
foundations for the trade.... throwing all the others out the window unless
you are setting your entries with deep exits and s/l's and walking away from
the pc for hours and / or days.
With other pairs and in other market conditions I would use the 15, 90, 540
or variations of time frames with factors of 6 (TF's divisible by 6)
fast markets - 1, 6, 36, 216 min
other markets - 5, 30, 180, 1080 min
I can see 'waves' on my charts and as it has been said, the smaller (TF)
waves build the larger waves. You can get a better entry and know when
to exit by watching the smaller TF waves.
Just my observations while....
sleepinginadumpster
to play it is scalping using the smallest TF's ( 1, 5, 10, 15 min) as indicators
for price action, entries and exits and using 30, 60, 90 min indicators for
foundations for the trade.... throwing all the others out the window unless
you are setting your entries with deep exits and s/l's and walking away from
the pc for hours and / or days.
With other pairs and in other market conditions I would use the 15, 90, 540
or variations of time frames with factors of 6 (TF's divisible by 6)
fast markets - 1, 6, 36, 216 min
other markets - 5, 30, 180, 1080 min
I can see 'waves' on my charts and as it has been said, the smaller (TF)
waves build the larger waves. You can get a better entry and know when
to exit by watching the smaller TF waves.
Just my observations while....
sleepinginadumpster
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