Hiya Folks,
I don’t know if this post would be appropriate for this thread, but if it’s not, I apologize.
I was looking at one of your old threads called On Scalping. Fascinating thread. One guy (I believe it was someone named Pablo) back in 2008 had asked in a chat room for members to just shout out random numbers. The numbers were 57, 33, & 19.
He then drew lines on a chart at the .0057, .0033, & .0019 lines. It was a 1 hour chart. He then stated a simple rule that “if the candle is green at the line, go long. If the candle is red at the line, go short.”
The first image here is what Pablo (?) posted:
At this time, I am trading currency futures, trying to grab a few ticks (or pips) for about 3 lots.
So I went to hell with this idea & drew lines at every 10 ticks on a chart, using the same principle. I haven’t traded it on a 1 hour chart yet, but this is what it looks like:
I would be interested to know member’s opinions about this method, according to Pablo’s rules.
Thanx for the help.
Dale