drofwarc wrote:Hi monarch,
I just found this thread and think it's great. I'm looking forward to seeing you back in action next week.
A question for you. Do you take into account the direction of the daily trend or the daily close?
Also, could you talk more about how you pick your entry points.
Thanks and have a great weekend.
The highest time frame I use is the 4 hour, then I have the 1 hour, and 15 min for the overall setups I look for.
You can see on this page that there was a lot of 5 min entry pics, last week I was using the 1 min, and thought it was probably better to show it on a 5 min chart.
Basically I have 3 major pairs I am watching GU, EU, UJ, and then occasionally I will monitor the GJ, EJ.
I look for sup/res areas on the 4 and 1 hour charts, then when the 15 min gives a signal to enter, I focus on the 5 min to find the current price direction.
I am here usually during the early to mid Asia, and I will watch the NY open for about 1 hour each day.
Hope to catch you then.