Hi Avery,
Well this was scalping so I have been using a 5 minute chart for the top 3 or 4 major currencies and only when there is a lot of price range/volatility. Not when things are quiet. Though I have been thinking of using the Eur/CHF because yes, it is a bit quieter but the moves are steadier.
If you are recommending the H1 time frame I will take a look at that, the 30 minute and the 15 minute as well just for the sake of learning.
My profit target is 3 to 5 pips but I would just like to try to get into a time frame that will be a strong probability of getting 5 pips. Any recommendations? Probably 15 minutes or higher right?
OK...so to clarify...
You are only doing a trade if it is DARK GREEN after DARK RED or a DARK RED after a DARK GREEN?
By the way, thanks for responding. It means a lot and will certainly help others and prevent duplicates.
Brian
PS - I assume you wait for the candle to close to confirm it's final color? Because as the market pips away (nice pun huh) it changes color. I have been waiting for the close to make my move.
Last edited by BrianSNJ; 07-13-2008 at 11:13 PM.
Reason: Add one more question
|