NickB's 4H Scalping Method

[s050399b]

Originally Posted by phil838

...but I won't trade a scalp line break before Monday morning London time. In my opinion the volume is just too low. If it breaks in the next couple hours I'm going to skip it.

So you would trade it when it's GMT1100 (London 12pm)? Or after GMT0800 (London 9am)?

[phil838]

Originally Posted by s050399b

So you would trade it when it's GMT1100 (London 12pm)? Or after GMT0800 (London 9am)?

I'd trade it after 8am GMT.

[s050399b]

*scribbles down somewhere - trading scalp lines only after GMT8am on Mondays*

[s050399b]

Daily Habits of a professional Trader



[ Monday ]
- GMT0 (10am) – draw and trade Sunday Breakout
- GMT8 (6pm) – place and trade scalp lines

[ Tuesday ]
- idle

[ Wednesday ]
- idle

[ Thursday ]
- idle

[ Friday ]
- GMT1200 (10pm) – remove scalp lines
- collect winnings

[benji533]

Originally Posted by benji533

Hey guys,
Do you think that the main uptrend of the GBP\USD will continue, or it's time for a reversal in the main trend? Although it's a bit struggling there, the last low was still a higher low, and also the high was an higher high...
I will wait in the meantime to see if it can continue and brake the 50.000 fiboracci line and he above S+R line in my chart...it all ready broke the pink trend line, and I can see some good price action.
In addition, we can see that the two lowest candles in thr 4H chart have long lows....so this can be a good combination of candlestick patterns, S+R lines and price action.
Ben

It ended as a good long trade and I made some profits out of it

The price bounced up after it broke the 5.000 fiboracci level.



Ben

[phil838]

Originally Posted by benji533

It ended as a good long trade and I made some profits out of it

The price bounced up after it broke the 5.000 fiboracci level.


Ben

Good job Ben!

I stayed out because it broke too early in the week for my tastes, but I'm glad you got some pips!

[benji533]

Originally Posted by phil838

Good job Ben!

I stayed out because it broke too early in the week for my tastes, but I'm glad you got some pips!

Thanks Phil!
Your S+R zones helped me to spot a good entry for that trade (I have entered around the blue line there where your S+R zone is...the fiborraci wasn't enough for me alone). so thanks

Ben

[tonymand]

Originally Posted by s050399b

Daily Habits of a professional Trader



[ Monday ]
- GMT0 (10am) – draw and trade Sunday Breakout
- GMT8 (6pm) – place and trade scalp lines

[ Tuesday ]
- idle

[ Wednesday ]
- idle

[ Thursday ]
- idle

[ Friday ]
- GMT1200 (10pm) – remove scalp lines
- collect winnings

Although tongue in cheek you have hit the nail on the head. Your approach needs to match your intended lifestyle otherwise you are swapping one master for another

[s050399b]

haha! that's the life I'm dreamt about, I still need to work on it! haha!

[bacoazul]

hello,
i have top line at 156.426 and bottom line at 152.379, its that right?