Disliked1 Frankfurt opens an hour before London and can have some very good trades.
2 A reversing pattern where 2nd candle is opposite of previous 1 and about the same length. A decent example would be Y's GU 1hr at the days low and this mornings gu 1 hr at the high of day.
3 No need to be embarassed.
Cheers.Ignored
I have traded Frankies hour often, since I am up a lot at that hour due to my profession. In fact, my favorite time to trade. Didn't know it had a name.
I have seen railroad tracks many times, and know exactly what you are talking about. Thank you very much.
As for the CM, My win/loss ratio for this week is up about 8%, mostly, I think, due to CM. (first week I have used it)
I trade a 1-2-3 and 1-2-3-4 price action system without indicators. I have usually traded this on the hourly or 4 hour, but have moved down the the 15 and 5 for the CM.
Have mostly been watching the "Spread" or "Distance" between the currencies as my stop order is approached. Colors don't necessarily have to be blue and red respectively, in fact usually aren't
As entry is approached, usually see "Spread" or "Distance" hold, or widen. Like to see a "Spead" or "Distance" of greater than 3 yellow and orange. If "Spread" begins to narrow while waiting for entry, throw away the trade.
If a good move is caught, color of one or the other MIGHT go RED or BLUE, but not always. Still, Spread will probably widen and pretty much hold.
If entry is triggered, and trade seems to go nowhere, I stay in the trade and keep a steely eye on the CM. If the spread holds, the stronger currency will eventually prevail, but will be in trade for awhile. If spread narrows too much, go ahead an exit, even if a loss. But the loss will probably be small and manageable
Anybody see similar CM moves?
Thanks, Shakey
