Monday 22nd May and the 7 am candle on all four pairs stays true to form with its prediction of direction. But going short against the major trend can be a bit scary, and there aren't usually too many pips to be gained unless the USD is particularly ...

Scalping the EUR at the European open

Hi there Doanut. The answer to your question is all a matter of personal preference. I usually expect a scalp of 25 pips on each pair, but USD often gives the lowest whilst AUD and NZD can give more. Lately I am opening two positions, one with a 25 ...

Scalping the EUR at the European open

Here are the charts for Friday 19th May. Where there may be indecision it may be wise to stay with a 30 M time frame and use the 7 am candle for a definitive direction if all pairs agree at 7 to 7:30 am. The first set of charts show the situation at ...

Scalping the EUR at the European open

Here is a review of EUR/USD for this week so far on the 30 M time frame where we can see the value of the 7 am candle to predict a good scalp. The 7 am candle let us down on only one day (Wednesday) when it was out of sync with the 7 am candle on ...

Scalping the EUR at the European open

Today's conflicting 7 am candles gave a good indication of the sideways price action to come for the day. There were no useful price moves from 7 to 8 where we could grab a scalp. The first group of charts shows the inconsistency between the pairs, ...

Scalping the EUR at the European open

Following two profitable days, and with significant resistance levels reached, today showed conflicting buy and sell messages. Where there is no synchronicity is a sign to be cautious and stay out of the market. image

Scalping the EUR at the European open

A very nice set up this morning resulting in a good series of scalps. See the set up on the first set of charts, followed by the outcome on the lower set. There was some inconsistency with the 7 am candle on the 15 M time frame, but EUR/USD paved ...

Scalping the EUR at the European open

Here are two sets of charts for the EUR pairs this morning. The first shows the situation at about 6:30 and the lower shows the outcome. We can see that there is inconsistency between the pairs on the left and the pairs on the right. This means it ...

Scalping the EUR at the European open

I see that a lot has been written on other threads concerning EAs for basket trading. You may like to investigate them to find out what works and what doesn't. Good luck in your search.

Scalping the EUR at the European open

I must confess that I have only just returned to trading after a long absence. I therefore have no record of reliability. You have reminded me that this is something I should give my attention to. Thank you for the reminder.

Scalping the EUR at the European open

Heads up Guys. Dismal USD news today gave EUR a boost that caused price to break through the 10,900 level back to the upside. This could mean a bit more price action on Monday. Here are the latest charts for Friday 12th May. Have a great weekend. ...

Scalping the EUR at the European open

Methinks you are getting the hang of it. Nicely done.

Scalping the EUR at the European open

Let's have a quick look at the EUR/USD 30 M chart for the past week. It shows us why we have had a flat week with so few possible trades. The pair has been trundling along in a non-productive sideways channel. This can't go on, so let's see what ...

Scalping the EUR at the European open

Friday morning 12t May. Here is the outlook at 06:30. EUR are bunched in the upper half of the strength list. Do we have a possible trade? With German preliminary GDP news release at 7 am it is wise to remain out. image

Scalping the EUR at the European open

Yes, I do that sometimes to see of there is synchronicity with CAD. Sometimes it is a better pair than with JPY. We have to be flexible. This is why robots don't work. There has to be flexibility built into the system or if its too rigid there will ...

Scalping the EUR at the European open

Yet another rubbish day for trading the EUR. image

Scalping the EUR at the European open

Good morning EUR scalpers. Here are this morning's 15 M charts at 10 to 7. We can see the pair strength list and the trends as we wait for the 7 am candle. What do you expect to happen? image

Scalping the EUR at the European open

It is wise to stay out of the trade when there is conflict and indecision. Don't be disheartened if you think you see a missed opportunity. It is better to avoid the risk if you are undecided. Now look at the example of Monday 8th May for just how ...

Scalping the EUR at the European open

It 'looks' right because the correct candle is indicated, but I am confused by the time on your chart. My 7 am candle is at GMT+1 (British Summer time). Does this help?

Scalping the EUR at the European open

The 15 M candle at 7 am is the best in my opinion. It absorbs 'noise' of the 5 m time frame and gives a clearer and more positive signal. The 30 M time frame is too long and it leaves the entry too late.

Scalping the EUR at the European open