{quote} Remember the "Settling" theory? When 8 or more pairs are moving in the same direction on H1 & H4 with the Daily line indicator confirming....this is a good signal.... When all 4 time frames concur this gives a strong signal..... I have put arrows at the bottom to help new basketters with the signal....not that they are the ultimate...but it is a start..... Once you get used to the system you will be able to spot pullbacks as well..... I normally only start trading from Tuesday once the pairs are settled, but today's trades are a continuation...
I read now interesting article where i see that "Years of forex market data shows that currencies will most likely set their highs and lows for the week at the beginning and end of the trading week. Intuitively this makes sense: if a currency is in a fairly consistent uptrend, its low on Monday will likely hold through Friday and the opposite should also be true. Furthermore, major European and North American currencies will also tend to see larger price moves towards the end of the week"
Hm, maybe its a good idea for a new baskett expert based on that article to see results?
"Entry Rule: On Tuesday, set a Buy Stop entry order at Monday’s high, a Sell Stop entry order at Monday’s low. We will maintain these Buy and Sell Stop entry orders throughout the week unless we have already gone long or short the pair, respectively.
Stop Loss: The opposite stop entry order will take us out of a given position and set a trade in the opposite direction. This will be the case unless there was already an order triggered in the other direction through the previous week of trade. In other words, if the strategy goes long at Monday’s high but subsequently flips direction at Monday’s low, there will be no stop order in place on the ensuing short position.
Take Profit: None
Exit Rule: Close as near to Friday’s closing price as possible."
Thanks for your work. (i'm a new basketter
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Sorry for my bad english, still learning
