I use the 7 am candle on a 15 m chart as my truth candle only if the direction and momentum are the same on all four charts. If there is indecision this is a message to keep out of the market and to not trade. That is how I use it. How you use it is ...

Scalping the EUR at the European open

Tuesday 5th June at 06:30 sees no synchronicity between EUR/USD and EUR/JPY. Markets are dominated by a strong USD and a weak AUD. These are indications to stay out of the market, but for risk takers let's see what the 7 am candle tells us. The ...

Scalping the EUR at the European open

Yes whatfx, those arrows show the direction of the 7 am candle and the time is the same on my machine as the actual time in London. Why would they be different? I use the 15 M time frame as the most practical for me, but at the end of the week I ...

Scalping the EUR at the European open

Monday 4th June. Here are the charts at 06:30 this morning showing serious inconsistencies in the trends. EUR/USD and EUR/JPY are synchronized in a bullish move, whilst Aussie is very strong against EUR. NZD straddles its 100 MA. So, this is a ...

Scalping the EUR at the European open

When there is a very strong move on all pairs against the trend it is a very strong signal to go in the direction of that signal. Then it is up to you how and when to place your trade. You could use a buy stop entry order with a pull back or go for ...

Scalping the EUR at the European open

You can see the pairs I choose to list on the charts I have posted. This gives a good comparison between all the major currency pairs, but it is up to you which pairs to choose.

Scalping the EUR at the European open

Here is the end of week chart for EUR/USD on a 30 m time frame. Whether you use the 30 m or 15 m time frame for your direction to trade is a matter of personal choice. You have to make your own decisions on the information presented in the format ...

Scalping the EUR at the European open

Friday 1st June sees USD as the strongest currency this morning and AUD the weakest (See the pairs list on the left of the upper chart). We saw conflicting sentiment with EUR pairs with EUR/USD being pushed down by the strengthening USD and out of ...

Scalping the EUR at the European open

Hi there whatfx. Too many questions. One at a time please. Thank you. Or, better still, you may like to go back to the start of the thread and see the rules. When all criteria are met then trades are excellent, but that doesn't happen every day. ...

Scalping the EUR at the European open

Thursday 31st May and EUR continues its retracement from the bottom. This morning's strong bull candle appeared at 6:30 on all four selected pairs. If you were up early you may have caught it and called it a day. There was a little inconsistency ...

Scalping the EUR at the European open

Wednesday 30th May and EUR pairs touched a new low yesterday, which suggested the possibility of a bit of a retracement this morning. We can see on today's charts below that there was a bull candle at 7:45 on all charts. A move as strong as this ...

Scalping the EUR at the European open

Tuesday 29th May and EUR/USD has reached its previous bottom (check this on a day time frame). Following the rules we have reached our 100 pip target today, that is 25 pips for each pair selected. Take note of the length of the bear candles from 7 ...

Scalping the EUR at the European open

Good morning EUR scalpers. Here are the charts for this morning. Following such a sustained downtrend on all EUR pairs it was no surprise to see a retracement on all EUR pairs with the exception of EUR/NZD which paved the way for the continued ...

Scalping the EUR at the European open

Hi Guys. Sorry I have been out of touch. I spent last Summer in Crete and had to come back to UK for psychology research projects. All under control now and back in the trading seat. I have designed an automatic trading system to take the decision ...

Scalping the EUR at the European open

Yes, 7 am is UK time. And you are correct when you say that moves often begin in the last hour of the Asian session. First and foremost there must be synchronicity in four pairs in their shape and trend. Then I pay particular attention to the ...

Scalping the EUR at the European open

Friday 8th December sees EUR/USD on a continued bear move throughout the week. Maintaining the strategy of using synchronicity between a set of four pairs, with the 7 am candle as an indicator and EUR/USD as the principle guide we can see that 7:30 ...

Scalping the EUR at the European open

Friday 1st December. Here is the end of week review for EUR/USD. It would appear that the dynamics of the pair are changing in a way that invalidates the strategy. It now seems that the 7 am candle is losing its 'truth' bar indicator of direction to ...

Scalping the EUR at the European open

Sat 25th Nov. End of week review for EUR/USD. Apologies for being out of touch for a while. I have recently returned to UK from Crete and moving into new accommodation, so have been a bit preoccupied with domestic issues. I find it useful to review ...

Scalping the EUR at the European open

Wednesday 15th November and another good day for trading the EUR pairs for a scalp. All pairs showed a good profit, but EUR/JPY was a bit shy. So today was not a perfect pattern, but 75%. image

Basket Trading the European Open

Tuesday 14th November and this is the pattern we have been looking for. This ideal set up does not happen every day, but when it does it is time to make a good profit. image

Basket Trading the European Open