Friday, we had a big downTrendLine (3H) test & 1.3400 test. Big objects, generally generate local complexity. Many tiny pieces. I switch to 1mn, even 30s chart.
I anticipated the squeeze higher, I knew institutional sell orders were at 1.3430...must remember when things go sidewise, the boredom shorts will come in...I got a nice long from 3380 to 3420 for 30 pips then another short from 3420 to 3405 for 15
I was actually looking at this strategy myself. Personally I don't think it's a high probability trade since a lot of large moves stop right after penetrating 00 or 50 levels. My modification to this strategy is to wait for a spike to penetrate, then wait for retrace to the 50 or 00 level. Then if that retrace shows momentum, I can trade the break out of that retrace. That I think can filter out a lot of bad signals.
@shinevancouver That's not a bad idea, But I am focused strictly on the 00 levels because those have the most significance for the greatest amount of participants in the market. The half penny level will usually have tremendous two way action
Hi Boris,
Friday, we had a big downTrendLine (3H) test & 1.3400 test. Big objects, generally generate local complexity. Many tiny pieces. I switch to 1mn, even 30s chart.
eTaupe 1 year ago
I anticipated the squeeze higher, I knew institutional sell orders were at 1.3430...must remember when things go sidewise, the boredom shorts will come in...I got a nice long from 3380 to 3420 for 30 pips then another short from 3420 to 3405 for 15
yurps 1 year ago
Thanks for the videos though, I enjoyed hearing about your strategies though I use a quite different scalping strategy.
shinevancouver 1 year ago
If you look at EURUSD's chart on thursday, you can find a lot of false signals when price was breaking above the 1.3350 level.
shinevancouver 1 year ago
I was actually looking at this strategy myself. Personally I don't think it's a high probability trade since a lot of large moves stop right after penetrating 00 or 50 levels. My modification to this strategy is to wait for a spike to penetrate, then wait for retrace to the 50 or 00 level. Then if that retrace shows momentum, I can trade the break out of that retrace. That I think can filter out a lot of bad signals.
shinevancouver 1 year ago
@shinevancouver That's not a bad idea, But I am focused strictly on the 00 levels because those have the most significance for the greatest amount of participants in the market. The half penny level will usually have tremendous two way action
BKTraderFx 1 year ago
Thank you for the video. It's a good reflection on trading. I'm looking forward to the next.
ntoiyt 1 year ago