The chart used is a 5-minute EUR/USD chart. We are using it here.
When the background is green,it indicates that on the higher timeframe (1-hour), there is an uptrendin place,which is what it shows.
The arrow signalspoint out pullback buys and rally sellsas entry points .
Since the higher timeframe is trending up,we won’t fight that flow,
and will trade only on pullback-buy signals.That’s how we proceed. When the background is pink, the market is judged to be in a downtrend,
so,we trade only on rally-sell signalsat those times. That’s the approach.
Ranges also occur, and of course there will be stop-loss exits, but there are also trades that capture big moves,
so overall, the aim is to run a trade planthat ends in net profit. There is an auto-entry function,and when you can’t keep watching
the chart, you can use the higher timeframe (1-hour)together with the lower timeframe (5-minute) anduse the auto function to conduct trades.
When you can watch the chart,,switch the lower timeframe to 1-minute so thatyou can perform scalping. |