I thought so. That explains the 8 am spike. Thanks.

Scalping the EUR at the European open

What actual time is the London open? Is it 9 am?

Scalping the EUR at the European open

It makes no difference what time frame you are using. I am in London time zone, so 6:30 is the same in all charts. I use the 30 M time frame to identify the major trend, then go to 15 M for timing the pull back for entry. You could use 10 or 5 M if ...

Scalping the EUR at the European open

I am happy to keep my trading to an early session only, as I have other things to do, but try it if you like and see if it works.

Scalping the EUR at the European open

When a currency is rallying as fast as this I find it useful to open two positions (with buy stops above a pullback). One position has a 20 pip target and the other a much larger one at perhaps 50 or 100, depending on the pair. In my experience the ...

Scalping the EUR at the European open

Stay out when there is a pending news release. You will get stopped out.

Scalping the EUR at the European open

Here is the EUR/USD chart for this morning, Thursday 20th April 2017. It shows clearly how the strategy works. The pull back can be a bit scary on the 5 m time frame, so to alleviate anxiety it is wise to place a buy stop order above the last bar. ...

Scalping the EUR at the European open

I don't use MT4, but I would guess that any trading platform worth it would have some facility for showing pairs on a strength scale, perhaps by the % move for the trading day.

Scalping the EUR at the European open

Good morning. Here are the charts for this morning to show entry points and the 8 am spike. USD was a bit strong this morning and EUR/USD didn't perform well, but all others did. This demonstrates the value of trading a basket, and shows how the ...

Scalping the EUR at the European open

Nice one. Thanks for taking the chance. I'll post copies of today's charts in a mo.

Scalping the EUR at the European open

For those of you viewing this morning the EUR is set to continue its rally. I have already opened long trades on the EUR/USD, EUR/NZD, EUR/AUD and EUR/JPY. 20 pip stop and 100 pip target.

Scalping the EUR at the European open

A dissapointing result this morning due to the market being dominated by a strengthening GBP. See the leader board of strength on the left of this chart. Indicators suggested a bullish EUR, so I took trades with EUR/USD, EUR/NZD, EUR/AUD and EUR/JPY ...

EUR scalping at the European Open

I have been out of the game for a couple of years, but now I am back. Here is my first trade on scalping the EUR/USD at the European open (GMT). Price reached the bottom of the channel on the 4H chart (shown by the red line at the bottom of the ...

EUR scalping at the European Open

Here is a good example of the strategy at work. A reminder of the strategy is: 1. Trade in the direction of the trend on the 30 M time frame. Today this was bearish. 2. Go to a 10 or 5 M time frame and wait for a retracement against the major trend ...

EUR scalping at the European Open

A strong rally overnight during the Oriental session suggested that the rally might continue with the European opening. A bull bar at 7 gave a good indicator of what was to follow. Notice the pullback until 8 am. Other indicators were given by ...

EUR scalping at the European Open

Here is a perfect example of why we must not trade when news releases are expected. This down spike is the result of bad economic news out of Germany. Any trade that bounced off the pivot today would have suffered losses. image

Daily pivot bounce

Here is a perfect example of the Daily Pivot Bounce strategy at work. Did anyone get it? image

Daily pivot bounce

This is a continuation of a discussion started on the Daily Pivot thread at: url Here is an update on this strategy from the last comment on the Daily Pivot Bounce discussion: So, my conclusion is that the only true indicator is what price is ...

EUR scalping at the European Open

Hmmm. Tricky. If anything was that good then surely we would all be using it. CCI, as an oscillator, does the same job as RSI or Stochastic, i.e. it shows over-bought or over-sold. When any oscillator stays above or below its critical line then ...

Daily pivot bounce