Sunday, August 21, 2011

Trading ideas and days review.

Whilst we no longer really trade Frankfurt, the hour (FH) before London opens (LO) we have looked at numerous charts. Generally we would not trade 2 moves in the same direction as half way through FH there is a strong chance of a reversal.

We will look at trading higher lows and lower highs (1 2 3 tops/bottoms) and double tops/bottoms at this time (FH/LO).

After 9.30 gmt you are more likely to get the bigger moves of the day forming. So trades in line with 1hr at close of 9am gmt candle can be considered. If the move is small then the LO head fake has not yet shown itself. A reversal then will most likely signal the bigger move for the day. Chances of London having 2 big reversal trades are slim.

Chances are that this move will continue to 5 day ATR and then may have a London Close trade reversal.

No comments:

Post a Comment