Dubadut, it’s deal. I have found that the 10pm PST is a good time to look for moves, sometimes reversing of trends. The 5 period RSI with a 30 minute or on hour chart is what I use. I have found that when the fx market eases off late in the trading day. It closes here and reopens here at 2 pm pst. I determine the overall trend if possible and look to see if there is a quieting and possible retracing of the trend. I set my entry about 10 pm if I see the rse go from overbot to oversold and see it starting to move back up for a entry. The bread and butter trade is about 30 pips with a 30 to 50 pip stop based on currency and donchian channels.
I used to just look for breakouts of the donchian channel, but my equity trading friend and I developed an effective signal with the 5 period moving average. This works best when the Asian markets start coming alive.
That was my scalping strategy. My swing strategy using the daily charts. I was for engulfing candles and now after reading Toby123 on bb I watch for inside candles. I also watch to daily moves based on cross the 50% line on the RSI. With this I want to see the bar close above the 21 sma for a long.
Both these strategies are momentum plays, one more of a scalp and one more of a swing. In addition money management is critical. I do like two contracts on the scalp, with one about ATR and the other longer.
If you like please let me know what strategy you like. I’m mostly price action with the RSI which I think is a form of price action.