Hi Nick,
You have a good concept going, very close to how I trade.
BUT....
1- Choosing the D1 open is crucial i.e. which one??
2- With the 1H you're already too late and too slow i.e. you have to micromanage your day assuming that you are day trading and not holding over night.
3- You have to assume that everything you are told about trading is false; for example, not using volume cause it is irrelevant in FX... I use it every day, hour, and minute.
4- Mark up your chart with important opens, highs and lows e.g. today's open, yesterday's H&L, London Open, NY & NYSE opens... etc...
5- Study what happens when they all line up and when they don't.
Let the above marinate in your mind and you will make a very big discovery.
All the best in your trading career,
Cheers,
You have a good concept going, very close to how I trade.
BUT....
1- Choosing the D1 open is crucial i.e. which one??
2- With the 1H you're already too late and too slow i.e. you have to micromanage your day assuming that you are day trading and not holding over night.
3- You have to assume that everything you are told about trading is false; for example, not using volume cause it is irrelevant in FX... I use it every day, hour, and minute.
4- Mark up your chart with important opens, highs and lows e.g. today's open, yesterday's H&L, London Open, NY & NYSE opens... etc...
5- Study what happens when they all line up and when they don't.
Let the above marinate in your mind and you will make a very big discovery.
All the best in your trading career,
Cheers,
