Thursday 17th March

by 00:38 0 comments
Spent more time looking into the 5min chart and the use of trigger numbers. This has pretty much turned into a paper trading week and after the last few days results i'm going to spend the next week paper trading as well before trying this strategy on my live account.

I concentrated on Eddie and Cable for today with some very promising results;

Firstly we have the Eddie chart. I got up this morning and marked the highest volume bars at the time with triggers and waited for a reaction to these areas with little outcome. It wasn't until the 10am to 10:05 bar that even more volume came in and marked my trigger number for the rest of the day. Once this had been marked I was then looking for price to move away from and then back up to the trigger number on a No Demand or Upthrust as shown in the picture below. For the upthrusts it would have been better if they actually touched the trigger number but it was still a rejection of this area and a good entry (in my opinion)

Eddie 5min

Much the same as the Eddie chart with the volume coming in at 10am and providing a platform for the day. This chart produced a really narrow spread bar coming up to the trigger number which was the perfect No Demand entry. Once again it would have been nice if this touched the trigger number but it's important to note the drop off in volume was significant as there was no interest to the up side at this time.

Cable 5min

I'm really impressed with how these trigger lines seemed to be so well respected. It has brought a new level to my trading as well as getting me to understand what is actually happening on the charts. Really looking forward to tomorrow and the following week to see if I get some more positive results. 

That's it for now, i'm off to bed!





28. Forex. Trading. Music. Beer. Food. Travel.


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