You need to know somethings of the candles and S&D. For example if "x" pair its a big Suply Zone daiyly.... and that pair has touching it and stop... better skip that... u understand? you can have each hour 5pips in the same trend but u need to know when to stop.
Follow the monthly candle and be profitable
- #1,287
- Feb 25, 2015 4:32am Feb 25, 2015 4:32am
Let me try to explain how the London&New York opening strategie works.
Please correct this when i am wrong.
EXAMPLE ON THE CHART BELOW:
1. We look at the Forex meter and check wich 2 pairs are the strongest ones and focus on these. Be careful, it can change during short time. In this example it is the EURJPY and GBPJPY.
2. Then we look at the Daily opening price (white dotted line on the chart). In this case current price is above the line so we only look for longs.
Londen opening has already pasted (in this example) so we look for another opportunity.
3. We look for next candle close (candle after Londen opening) That candle is bearish (red) so no trade yet.
4. We wait for the next candle to close. When this candle closes bullish (blue) than we look at the previous M15 and M5 candle. When everything is bullish (blue) then we press the buy button. If the candle closes bearish (red) then we have NO trade.
At New York opening (within a few hours) we want the previous candle (candle 14:00 till 14:59) bullish, because price is above Daily opening price.
If so then check:
1. Forex meter
2. previous H1 candle (blue? then go to nr 3. Red? then wait till next candle closes blue and then go to 3.)
3. previous M15 and M5 candle
4. when all the candles are bullish (blue) then we hit the buy button and aim for 5 pips.
I hope this helps.
please correct me if i am wrong.
Please correct this when i am wrong.
EXAMPLE ON THE CHART BELOW:
1. We look at the Forex meter and check wich 2 pairs are the strongest ones and focus on these. Be careful, it can change during short time. In this example it is the EURJPY and GBPJPY.
2. Then we look at the Daily opening price (white dotted line on the chart). In this case current price is above the line so we only look for longs.
Londen opening has already pasted (in this example) so we look for another opportunity.
3. We look for next candle close (candle after Londen opening) That candle is bearish (red) so no trade yet.
4. We wait for the next candle to close. When this candle closes bullish (blue) than we look at the previous M15 and M5 candle. When everything is bullish (blue) then we press the buy button. If the candle closes bearish (red) then we have NO trade.
At New York opening (within a few hours) we want the previous candle (candle 14:00 till 14:59) bullish, because price is above Daily opening price.
If so then check:
1. Forex meter
2. previous H1 candle (blue? then go to nr 3. Red? then wait till next candle closes blue and then go to 3.)
3. previous M15 and M5 candle
4. when all the candles are bullish (blue) then we hit the buy button and aim for 5 pips.
I hope this helps.
please correct me if i am wrong.
{quote} I just followed the method from the post 1178 as you mentioned except ''usdchf'' was my choise because of the negative ''EURUSD" correlation I prefer real sex instead of to watch porn
.Look my friend, only use GJ GU EU EJ thats all... and do small entries... use 0.01 lotsize or use demo account... you need to learn first everything and then go with big money. FOREX its going to be all the life... FOREX its dead when only exist one currency.. and when its going to happend that?? I think the Earth Plante explodes before that.
{quote} Yes me too i prefer sex than watching porn and touching my self...
May we should trade the reverse
