DJIA one trade per day - Who's in?!

Pending order

I read this thread with interest so thought of giving this a try.

Cfudge, cool you keep posting here your setups. I did spot the same setup. The way I understood this system
is to look for divergence around the opening time on m5 and than zoom in to m1 and place entries at potential supply.

This is what I did spot.



placing my entry based on m1



Too bad price was came short to trigger me and left without me.



I did remove the pending order. Will have a look at this tomorrow.

Happy to get some feedback.

Cheers,
Wmn

Nice trade!

Did anybody take this nice trade???
I was already gone to work, unfortunately...

GT3: thanks for sharing
I subscribed to one guy who used this technique on yen pairs
it seems to work best with yen pairs hence the relevance to the DJIA market
I trade index market as well just like you
so I haven't read all of the replies
but it seems to identify the blocks you need higher TF?
and once you identify the blocks then you look for entries level on a shorter TF while looking for divergences?
does that summarize your technique?

I am honestly questioning this "strategy". I tried it for some time and it seems after the divergence happens the price may just keep traveling in the previous direction bringing your entry to the stop loss. I have a feeling there is another play possible on the fake move of the NYSE open, if that's the case. I am doubting anyone with an account 50K or more would trade this gamble. Whoever was trying it for a few weeks, would you agree?

Happy New Year Folks!

What happened with the author of this thread?
Hope he is healthy and fine.

Update on results so far.
Started trading October 28 2016
34 trades taken
28 winners
6 losers
Total profit (0.01 lot size) $250.36

More or less the same trade:

EDIT: LOSERRRRRR

Not striktly the primary move and closed too early...