iberenhaus wrote:Relativity, It's unclear to me what you did based on what you wrote. You appear to want to take trades that are in the same direction as the weekly direction and the session direction (assuming they are the same). Weekly is down ... session was up. Are you using the PipEasy rule of entry (a new rat in town)? I'm not sure why you want to only trade in the weekly direction? Your only looking for 15 pips. If the system works, that's all that matters. I'm curious as to what you did. What was the trade? Did it work or not? Thanks. Ira
I used a modified version of PipEasy rule of entry to help me see where the S/R levels are. E.g. green rat. The general idea is that if a recent red bar's open is beaten, it is safer to go long. I've decide to attempt to stretch the idea to market opens as well.
I tried to go long AUDUSD just now. Weekly Open was up. There are 2 session opens : Sydney Open (going up) and Auckland Open (going down). Both are opposing each other and the range between both opens are huge, so I figured to try range trading instead.
That didn't work out, so I revert back to the original rules and waited for the Weekly Open + Sydney Open + Auckland Open all to be down. Then I went short and there was a breakout. Pocketed 14 pips.