I stopped using MT4 because I didn't like it, but you can still use all the same indicators like moving averages and pivot points, etc. One of the reasons I prefer IG Index, is because of the currency pair list that shows the strongest to weakest ...

Scalping the EUR at the European open

The example charts I posted yesterday illustrated a perfect performance of this strategy. Now, today we have a perfect example of conflicting signals that tell us to stay out and avoid any risk. There are a few issues and questions that need to be ...

Scalping the EUR at the European open

Hi there EUR scalpers. Here are the charts for this morning, Monday 8th May 2017. You could not ask for a better example of this strategy at work. This is how it looks when the best trades are made. Is this worthy of discussion or what? image

Scalping the EUR at the European open

Here are the 30 M charts for the four selected pairs for the past week showing the 7 am candle for each pair on each day. This will enable us to discuss the value of the 7 am candle as it apears on the 30 M charts. We could pose the following ...

Scalping the EUR at the European open

With three of our pairs, EUR/USD, EUR/AUD and EUR/NZD touching a new high this morning at a significant resistance level, a retracement was no suprise. See the upper chart taken at 6 am. The 7 am candle, shown on the lower 5 M charts was true to ...

Scalping the EUR at the European open

Here is another example of where there is conflict and indecision in the market, which is not ideal for scalping on all four pairs with this system. The 30 M charts shows non-synchronicity in the trend patterns with the 100 MA as our guide. EUR/USD ...

Scalping the EUR at the European open

No. The 7 am candle points in the direction of the trade. You can wait for a sight pullback from the 7 am candle to place your stop order or enter straight after it. The objective is to catch the 8 am scalp. If you wait for it you may miss it or get ...

Scalping the EUR at the European open

In such circumstances there is a choice, as was clearly illustrated today. When the EUR/USD is high on the list and the trend has reached a new high or a significant level of resistance we can expect it to retrace. The first good indicator of a ...

Scalping the EUR at the European open

We had a choice today due to the strength of USD and weakness of AUD. All EUR pairs were at the top of the strength list, but there was inconsistancy between the pairs on the left and those on the right. With the knowledge that USD, JPY and CAD move ...

Scalping the EUR at the European open

The idea is to catch the upward move with a buy stop order after 7 am. A succesful move will show at 7:45 and it should be safe to enter.

Scalping the EUR at the European open

Here is a good example of when to stay out of the trade. Firstly, on the 30 M chart there is no uniformity in the shape and trends of all four pairs. (Ignore the currency strengths in the list on the left of the charts because this was not captured ...

Scalping the EUR at the European open

As a matter of interest, here is the value of the 'truth' candle at 7 am on the 30 M time frame even when there is no synchronicity between the pairs on the left EUR/USD, EUR/JPY and the pairs on the right EUR/AUD, EUR/NZD. It can clearly be seen ...

Scalping the EUR at the European open

5 M is the simple answer, but it can also be seen on 10 or 15. Even better on the 30 M - see the next post.

Scalping the EUR at the European open

Monday 1st May. Bank holiday in the UK, and the 30 M chart shows EUR/USD in the bottom half of the currency strenth list. AUD is strong and JPY is weakest. Synergy between the pairs indicates them all edging sideways and showing no signs of trending ...

Scalping the EUR at the European open

That's good question. The reason is that sometimes, when the USD is strong, EUR/USD doesn't breakout, but all the other pairs do. There is an example of this I posted on 19th April in this thread to illustrate it. Thank you for asking.

Scalping the EUR at the European open

Let's have a review and discussion on price action for scalping the EUR during the past week. It can be seen on all charts above that the 7 am candle is the key to the direction of the forthcoming spike to be scalped. It can also be seen that on one ...

Scalping the EUR at the European open

Here are the 30 M charts for the week for discussion, showing the trade entry signals. What I find most interesting is that the 7 am bar is the key that indicates the scalp move to take. During the course of this past week there was only one short ...

Scalping the EUR at the European open

Here is the opening scenario on the 30 M time frame for 6 am Friday 28th April 2017, followed by a 5 M chart with the outcome. image image On the information colected during the course of this past week, we are able to discuss the follow: The ...

Scalping the EUR at the European open

I am testing the value of currency metres as a tool in an entry strategy, and I am becoming increasingly sceptical of their true value, as we shall see when I post the entry points for scalps for the week. On the point of pip spreads, even with a ...

Scalping the EUR at the European open

Thank you for the suggestion. I will be posting a full week's activity on my selected EUR pairs at the weekend showing the value of the indicators I use, and more importantly the significant pullback entry points for each day. It already looks ...

Scalping the EUR at the European open