what would you do?
what would you do?
Trade of the day - EURJPY 50 pips.
Here is another “excalibur” trade long. Note I was not awake for this move up.
Old excalibur trades. Pretty safe, low risk trade. Use the MA to determine short term trend. Once price touches the MA and fails to make a higher high we look to short and take some coin off of the trend continuation.
Hello and thanks for the question. Yes I still trade the Euro although I have found the Euro/Yen (EurJpy) pair to be a little more rewarding lately.
I do not trade the 4 hour pivots exclusively. I do watch them but price action is so slow during the US session it is sometimes hard to find good trades. For the best trades right now, you need to be up and watching the London session from approximately 1 am - 7am.
Classic divergence (EURUSD) provides low risk trade.
Low risk trade set up.
I have started watching line charts exclusively. One minute scalps are my poison of choice. So I’m looking for low risk trades with a target of at least 12 pips. The amount risked is usually 6 pips (I say usually because depending on the set-up sometimes a wee bit more is risked).
1a) A new higher high is set.
1b) A new peak on our oscillator.
2a) A lower high.
2b) Confirmation of declining momentum by a lower peak on the oscillator.
3) Signal is a quarter level (ala Mongolian). The filter is price below the moving average MA).
In this example, you would short at 1.3012 and expect price to drop to at least 1.3000. If you have the ability to watch small retractions, you could stay in the trade until price crosses the MA in the opposite direction of your trade. If you did this you would have gained 30+ pips on a a 1 minute scalp as price dropped to 1.2980 before reversing and crossing the MA
1 minute chart of EURUSD. Circles are higher highs that are clues to a price drop. Squares are entry signals. Tools used: Line Chart, T3 MA, OsMA (13,34,8)
Video of a 6 pip scalp EURUSD (forex).