I am using NinjaTrader and I like to use the 512 tick chart. I use a daily, weekly, and monthly charts as an anchor chart and then use the 512 to make trades accordingly.
I follow the 7, 21, 50, 100, and 200 ema. I use a 12, 26,9 MACD.
On this trade I waited till the dots turned from red to blue. I entered the trade at 1.9488 and I exited at the the previous high, which was 1.9528. A total profit of 40 pips. I entered this trade again once their was a close above the 127.2 Fibonacci extension. I entered at 1.9565 and exited one pip above the 161.8 extension at 1.9585. This landed me a profit of 20 pips.
I am waiting for the red dots to turn blue. I do not know which way the price will go right now. The momentum is heading lower, so a short might be in play. But, it is important to wait for the signal before entering the trade.
I entered the trade when the dot turned blue and the momentum was firing a long signal. I am conservative and took profit one pip above the 100% fib level at 1.4574. I entered at 1.4541. A total profit of 31 pips.
If anyone has some questions just post a reply. I know this indicators are available for MetaTrader, but does not offer tick charts. This technique can be used on Daily time frames and higher as well.
