Took me a year or so to learn how to play this but if you try it on demo a while, you can get familiar with it.
I picked up this technique from BRV original "No Brainer Trades" thread originally on this forum. It is called a Spike Base.
When an announcement or a spike happens you can usually play this on E/U or E/J. After the original spike happens (make sure its finished) it will retrace to a resistance level, then continue with the impulsive wave. Once the second retrace happens, 60-70% of the time (rough estimate) it will retrace back to or near the original spike base.
At or near the spike base for the second time, you have a pretty good chance of picking up some pips. This is purly a scalp play. You need to practice on demo and learn when its safe to get in and get out.
I picked up this technique from BRV original "No Brainer Trades" thread originally on this forum. It is called a Spike Base.
When an announcement or a spike happens you can usually play this on E/U or E/J. After the original spike happens (make sure its finished) it will retrace to a resistance level, then continue with the impulsive wave. Once the second retrace happens, 60-70% of the time (rough estimate) it will retrace back to or near the original spike base.
At or near the spike base for the second time, you have a pretty good chance of picking up some pips. This is purly a scalp play. You need to practice on demo and learn when its safe to get in and get out.
Balance in Everything