Monday 17th September

by 10:31 0 comments
Spent most of yesterday back testing and got through the first 4 months of 2011.

There was a nice little set up on the live edge that I thought i'd blog about. Something a little more current.

We made the high at 1.3169 last Friday and just before this we had a high volume zone which i've marked on the chart. Yesterday we pushed into this area on further high volume which just about made a new high at 1.3172.

At first this bar could have looked like absorption volume but this wasn't to be the case. The next couple of bars were down and it never managed to close above the 50% after this. There were no entries on the 5 or 15min in to the 50% but once the low of this zone was breached we got a series of No Demand which were good for an entry.

The only thing that I don't really like is the time of day. Many times i've seen a set up around this time of day only for it to move sideways as London closes and the activity seems to dry up. This one appeared to have the legs and moved down a bit over night. Either way, it was a nice little set up.

EUR/USD 15min



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


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