Hi Steve
The template is looking even better now with the 50% levels and weekly, monthly pivots. A BIG THANKYOU for your creativity.
"These rules will apply to earliest part of the week, before price hits the outer lines:
1)If price is under weekly pivot, and under red line, go short.
2)If price is over weekly pivot, and over red line, go long."
These new rules are a big help at the earliest part of the week. On Monday I watched the GBPUSD in the London session go up through the weekly pivot & red line (30 min chart) to 156.19, then go down again. My intuition was saying take a short, but I stayed out as I had no certain clear rules for the trade as RSI was not setup.
With these new rules for the earliest part of the week, now that trade will be possible to try.
From looking at my charts now GBPUSD, GBPJPY, AUDJPY, USDJPY, EURJPY, AUDUSD, USDCHF all had good moves down with 100 pip+ gains possible on almost all of these pairs. A break of the monthly S1 on USDJPY & EURJPY provided clear confluence points with the red line too.
I turned on the EA for an experiment on Monday New York stock market open time & it took 160 pips out of the market by shorting all pairs for 1 hr that had price under the red line.
The week following Non-Farm Payrolls seems to be the best for big moves at the start of the week from my recent observation.
I found the pivot indicator from member forex11, the co-founder of "follow the bouncing pip" thread at Forex TSD.
An indicator with a different name but, its the same except its named SRwithPivs.mq4, I have attached below. Member Saxon here at forex factory who started the "Nearly Naked (Simple Trades)" thread (the thread that has helped me to learn to wait for trading targets) is using it to good effect, as part of his trading methodology.
"The most certain way to succeed is always to try just one more time."
Thomas Edison
Ian
The template is looking even better now with the 50% levels and weekly, monthly pivots. A BIG THANKYOU for your creativity.
"These rules will apply to earliest part of the week, before price hits the outer lines:
1)If price is under weekly pivot, and under red line, go short.
2)If price is over weekly pivot, and over red line, go long."
These new rules are a big help at the earliest part of the week. On Monday I watched the GBPUSD in the London session go up through the weekly pivot & red line (30 min chart) to 156.19, then go down again. My intuition was saying take a short, but I stayed out as I had no certain clear rules for the trade as RSI was not setup.
With these new rules for the earliest part of the week, now that trade will be possible to try.
From looking at my charts now GBPUSD, GBPJPY, AUDJPY, USDJPY, EURJPY, AUDUSD, USDCHF all had good moves down with 100 pip+ gains possible on almost all of these pairs. A break of the monthly S1 on USDJPY & EURJPY provided clear confluence points with the red line too.
I turned on the EA for an experiment on Monday New York stock market open time & it took 160 pips out of the market by shorting all pairs for 1 hr that had price under the red line.
The week following Non-Farm Payrolls seems to be the best for big moves at the start of the week from my recent observation.
I found the pivot indicator from member forex11, the co-founder of "follow the bouncing pip" thread at Forex TSD.
An indicator with a different name but, its the same except its named SRwithPivs.mq4, I have attached below. Member Saxon here at forex factory who started the "Nearly Naked (Simple Trades)" thread (the thread that has helped me to learn to wait for trading targets) is using it to good effect, as part of his trading methodology.
"The most certain way to succeed is always to try just one more time."
Thomas Edison
Ian
Attached File(s)
SR WithPivs.mq4
14 KB
|
238 downloads