Pair: GBPJPY
Time frame: H1
Indicators: MACD1 set at 30, 60, 30 and MACD2 set at 60, 120, 60.
Trading times: London and NY open +/- 1 to 2 hours. This is not critical but you would be amazed at the accuracy of opening trades during these times.
Buy/sell only if price is in a s/d zone.
Buy only if MACDs are above the zero line
Sell only if MACDs are below the zero line
Note the proximity of sells to London/NY opens.
Keep it up, am trading on similiar method.
Sounds easy enough for me to follow… but… how do you determine the s/d zone?
Price cleanly exits to downside with no retracement. This is idealized example. Not all are so obvious but concept is the same. Look closely at the gbphpy chart I posted previously.
Demand is same but in opposite direction. Many threads on Forexfactory explaining this concept.
I think I get the drift; looking at the 1hr and 4hr chart of USDCAD
1hr chart:
4hr chart:
the 1hr chart gives more s/d zones, but the 4hr chart gives more entries on the supply line.
It behaves a bit as support/resistance.
How do you pick youe exit points? Also Based on s/d level?
Currently I am only using the H1 time frame. This is so I can pinpoint the London and NY open and time my trades around those times.
May I know what pair do u trade with this setting and how long you’ve been using it?
Gbpjpy, usdjpy, gbpusd, audusd. I dont like it for eurusd. I’ve been trading supply/ demand for several years but not with MACD until last couple weeks.