Alright, guys this is my first post…so don’t be me up to much. First of all this is an excellent Scalping System. Clear & Distinct and the fact that it incorporates Pivot Points makes it one of my favorites.
Now my question is what other Timeframes can it be used on. From reading the thread I see people are using it on the : G/U, E/U, G/J(I believe) and I think one Gentleman was testing it on the Aussie Dollar… Anyone else have any pairs they are actively trading this on?
Hey, thanks for the post. Yes, this template is good for other time frames, but the rules would have to be altered a bit…I am actually working on that.
Other pairs? sure…just demo what ever pair you like, and see what you get. a pair like GJ might need a biger SL TP.
Out break even on the EU long. Again, an example of managing the trade around s/r levels.
Trading against an s/r, only to take a loss if it doesnt break, never makes sense. Taking some profit or locking BE once it reaches that S/R, is the way to go.
Hi petefader, been reading this blog and testing out this great system of yours. I had the same long on the EU today and was also not sure whether it was worth holding on with that resistance level just a few pips away and the few candles of sideways movement. This kind of situation can really test your resolve to think objectively - something I need to work on. Thanks for showing your reasoning when and why its time to exit the trade!
Just bagged 20 pips shorting the 740AM candle EUR USD (fantabidosi!). I entered in the candle after the pull back and didnt enter until it passed through the 1.4632 support level. I think my exit point was not good though because its still dropping now and when I zoom out the time frame a bit more I can see I drew the wrong support line. DOH!
GBP/USD is really jumpy right now but I cant see any related news coming out around this time (7:30), Ill wait for things to cool down a bit before I make a move. Loving this system!
with forcasts and everything its nice 