OK so after getting messages to ask if I can post what Line Trader was doing and because I seem to be the reason why he left ,I will try and continue from were he left..
Ill post numbers for lines ABCD each night and although I am personally not trading these I will check them out each day and see what the outcome would have been in the same style as Line Trader did e.g. +1.-1 and so on
So its the same rules as he had which were :
If price at 07:00 am(GMT) is higher or lower than A or D it's a no trade day for that particular indice / pairing.
1.If price breaks A by 2 points then go LONG.
2.If price breaks D by 2 points then go SHORT.
3.If price closes above B and then retraces and closes below B then go SHORT.
4.If price closes below C and then retraces and closes above C then go LONG.
Several entries per indice/pairing are possible on each day.
All my charts are set to the M1 timeframe.
Stoplosses
For trade 1 (above) it's 2 points below line B.
For trade 2 (above) it's 2 points above line C.
For trade 3 (above) it's 2 points above line A.
For trade 4 (above) it's 2 points below line D.
Allow for broker spread in each above.
Take Profit
All trades R:R is 1:1.
Any open trades at 4:00pm are closed - REGARDLESS.
So for tomorrow 2nd Feb
E/U 1.3204 / 1.3174 / 1.3112 / 1.3082
G/U 1.5839 / 1.5821 / 1.5787 / 1.5769
U/CHF 9208 / 9187 / 9145 / 9124
U/CAD 1.0017 / 1.0005 / 0.9981 / 0.9969
E/J 100.64 / 100.41 / 99.95 / 99.72
FTSE 5822 / 5809 / 5783 / 5770
S+P 1331.7 / 1329.3 / 1324.5 / 1322.1
DOW 12817 / 12766 / 12665 / 12614
Personally I would not trade FTSE OR U/CAD as they are very clustered together
So just so we all know what were doing ,pending orders can be placed for lines A and D just before 7AM so you just have to watch for B and C
Trade it at your own risk
Good Luck
Ill post numbers for lines ABCD each night and although I am personally not trading these I will check them out each day and see what the outcome would have been in the same style as Line Trader did e.g. +1.-1 and so on
So its the same rules as he had which were :
If price at 07:00 am(GMT) is higher or lower than A or D it's a no trade day for that particular indice / pairing.
1.If price breaks A by 2 points then go LONG.
2.If price breaks D by 2 points then go SHORT.
3.If price closes above B and then retraces and closes below B then go SHORT.
4.If price closes below C and then retraces and closes above C then go LONG.
Several entries per indice/pairing are possible on each day.
All my charts are set to the M1 timeframe.
Stoplosses
For trade 1 (above) it's 2 points below line B.
For trade 2 (above) it's 2 points above line C.
For trade 3 (above) it's 2 points above line A.
For trade 4 (above) it's 2 points below line D.
Allow for broker spread in each above.
Take Profit
All trades R:R is 1:1.
Any open trades at 4:00pm are closed - REGARDLESS.
So for tomorrow 2nd Feb
E/U 1.3204 / 1.3174 / 1.3112 / 1.3082
G/U 1.5839 / 1.5821 / 1.5787 / 1.5769
U/CHF 9208 / 9187 / 9145 / 9124
U/CAD 1.0017 / 1.0005 / 0.9981 / 0.9969
E/J 100.64 / 100.41 / 99.95 / 99.72
FTSE 5822 / 5809 / 5783 / 5770
S+P 1331.7 / 1329.3 / 1324.5 / 1322.1
DOW 12817 / 12766 / 12665 / 12614
Personally I would not trade FTSE OR U/CAD as they are very clustered together
So just so we all know what were doing ,pending orders can be placed for lines A and D just before 7AM so you just have to watch for B and C
Trade it at your own risk
Good Luck
I just got 2 question? when you say 2 points how much pips is that? and last question do we trade those abcd lines? in London session until closing of NYsession
right?
