Current strategy

I was asked about the 1hr strategy I was looking at. It looks quite good but am not using it at the moment. It uses 3 indicators for trend definition, buy above/sell below when a moving average, RSI 50 level and MACD 0 line agreeing. It takes this one step further needing a candle to open one side and close the other side of a daily pivot.

In addition to swing trades when time permits I am looking again at 1 and 5 min entries using the same higher low and lower high flow as we have used for years. The focus is on where pairs agree for example eurjpy and gbpjpy, euraud and gbpaud or in this case eur crosses. The green line is London open and you will see these eur pairs were all suggesting a move down.

Using some simple concepts:

- the break and test of a range (see the red lines in the attached charts)
- a failed move in and around London open in one direction means a move in the other (followed by a higher low for a buy or lower high for a sell) has a high chance of success
- confirmation from other currencies would suggest we are trading with strong against weak

The attached charts show all these eur pairs were below the purple trailing line suggesting a move lower after London open (green line).