This is the first example. The set up was a flag on the 1 minute chart of EUR/USD. The entry was before the open of the NYSE, because this day EUR and the stock showed strong correlation. The initial stop was 5 pips and the target was 40 pips. Half of the position was closed at BE but for the rest the limit was hit. {image}
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Hello, Mr srmfx, nice to read & learn from your post, btw, may I know what MA/EMA being used in the EU M1 CHART,WHAT SETTING, CLOSED, HIGH/LOW.
The MA LINES are coloured as :- black, Blue, Red, Light Grey, wish to receive your reply as it can really help to guide new traders like me, thank ypu. Bye Happy trade.
{quote} Hello, Mr srmfx, nice to read & learn from your post, btw, may I know what MA/EMA being used in the EU M1 CHART,WHAT SETTING, CLOSED, HIGH/LOW. The MA LINES are coloured as :- black, Blue, Red, Light Grey, wish to receive your reply as it can really help to guide new traders like me, thank ypu. Bye Happy trade.
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I use 20, 50,100 and 200 EMA based on the closing prices.
Excellent set up for volatility trade. EURUSD was trading in 5-6 pips for more than 1 hour before the release of the German retail sales. Total cost of the strangle was 12.7 pips.
