Once the trendlines are drawn on one hour chart and then converted to 5 min chart for entry it will look like this. It showes the entry and exit for 10 pips withinin 35 minutes.
One hour chart
Same chart to 5 Min chart for entry and exit
Didnât get time to capture screen when trade got over as i had to get ready for work. I prefer to stay away from GU for a while.
Regards,
Muthu.
Chennai.
India.
Todayâ GBPUSD
Black lines = Tokyo range
Blue, red, grren = pivot lines
S1 (green) was at 1.5984, rounded target to 1.5990, which was just hitâŚphew. In hindsight, the 1.66 TP was better and might have just yielded at 1:1 trade ratio.
Similar setup on EURUSD but I didnât trade this today.
A slew of news and one right at euro open. I should have paid more attention to it.
Regards,
Muthu.
Chennai.
India.
The success of this system will also depend upon how good the trendlines are drawn. I always draw trendlines on one hour chart and then convert the same chart to five minute chart and make an adjustment in trendlines before I trade. The charts will look like this. This system has worked great this week.
Hi, does this always work for the EUR/USD and a target of ten pips on average and what are the best times to trade? Thanks a lot!
GBPUSD also had a good trade using this method. Did you place a trade on that too?
I used to. Cable shows huge volatility. I prefer to stay away for sometime and look at Euro for now. Yes this method would have given some pips with Cable too.
Fair point. Iâve only just started practicing this one in the last week or so. It has been quite consistent.
Whatâs your Win/Loss for EURUSD and GBPUSD out of curiosity?
I havenât kept a record. However, every trade both win and loss of these pairs is is right here in the forum for you to have a look. Moving forward I will look at more of Euro.
Fair enough, I must admit I did skim through the 86 odd pages and it seemed quite favorable for the most part. I will give the EURUSD a shot tomorrow onwards as well.
Good job Muthu on EURUSD. Its always nice to start week with possitive pips.
Thank you Tenpipsclub.