- trading where currencies are agreeing across 2 or more pairs. It could be both the eur and gbp against either aud, jpy, nzd or cad. Or it could be eur or gbp strong/weak across multiple pairs. See some of the 5 min charts posted earlier this month that clearly show the idea, that is to be trading a currency that has genuine strength or weakness.
- higher lows or lower highs (abc or 123 patterns) for entry.
- the test or break and test of a range around London open.
- a failed move in and around London open in one direction usually 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. Getting the direction of the day right with the above pairs with high ADR's will on most days give positive results.
- Trading buy above, sell below the 1 min 100 lwma looking generally for failed moves in and around London open, clean AB moves in the opposite direction that either test the range or break and retest the range. The BC retraces are small to set up clean higher lows/lower highs.
- Thereafter continuing to take higher lows/lower highs with strongly moving pairs.
This is a continuation trade from yesterday. EUR was weak across the board, clean lower high entry at break of the low 1.5066, exit +48.
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