my charting software doesn’t allow me to see H4 and H1 data past a month or so, which i need to formulate S+R and scalp lines on the EUR/USD pair…
would anyone like to share any of their own plotted lines to benefit this thread and help those with the same dilemma?
I also encourage discussion on any other scalping strategies involved with this pair. I would be more than happy to share ones I’ve learned and tweaked involving BB and CCI indicators if anyone is interested.
Any help on developing this thread is appreciated, thanks!
I have no idea what a scalp line is & I daren’t even begin to summize what it might be useful for, but for what it’s worth you can see if any of these zones are of interest to you in your forward planning.
Those reaction zones you see which played ball from last summer thru till end of year were on the radar of more than a few key players from as far back as 4th quarter 2007.
You’ll generally find that the higher timeframe markers hold good all the way down the timeframe ladder. All you need do is to mark em up on your 4 & 1 hourly chart reference & wait for price to begin vibrating around the area concerned.
If more than a few reliable (larger) spec desks and/or the various aggressive fund houses are eyeing a particular level or zone for either compound entries or profit objectives etc, then you can more or less guarantee they’ll be some pretty heavy duty activity around the level when prices eventually arrive there
Anyhow, use it or bin it.
if you want to get up close to the actual 4 hour bar extreme prints, the view below tick boxes the high/low & multi touch levels either side of the current price for reference.
Do you happen to incorporate the S+R lines with your strategy as well?
If you’re looking to find out more about scalp lines, you should look into NickB’s page on scalping and possibly even check him out at forex4noobs.com for lots of useful info. He mostly trades the GBP/JPY with his strategy, but I am looking to fine tune one for the e/u (way better spreads and almost just as good volatility :D)
Yeah I�ve been utilizing buy-sell pressure zones (another name for support/resistance analysis) since computer generated facilities became popular back in the late 80�s. I & a few colleagues use a general template based around the zones on a couple of our technical strategies.
Most technicians at the larger firms & top tier Bank desks use a similar interpretation for their shorter term models (outside of the algo/black box engines they run).
I assumed the scalp lines thing was what you�ve stated. No disrespects to this Nick fella (to each their own etc) but I�m not in the slightest bit interested in anything remotely related to so-called scalping techniques.
