EURUSD Today's day-trading setup point!

Hello!

I am Satori, researching FX.

Today I will deliver “EURUSD Today's Day-Trading Setup Points!”

The figure below is the day’s EURUSD 1-minute chart showing the day’s Japan time 2018-09-05 10:18 day-trading setup point chart.



http://livedoor.blogimg.jp/fxmt4indicator/imgs/c/0/c0e35f0f.gif


In the buy portion of the above diagram, the fourth column has broken above the previous three highs’ X column, which is a “Quadruple Top Breakout,” i.e., above the Double Top.

It is listed at the top of the following site.

By the way, on a 1-minute chart, one frame equals 1 pip, and three frames switch (when the price rises 4 pips from the previous low, one space and three Xs are drawn).

In the above, the P&F chart has 18 columns of O and X, and the chart formation time from start to finish is 9 hours 20 minutes.

The leftmost O high is 20:09 on Sept 4 (2:09 on Sept 5 Japan time), and the rightmost X high is 05:32 on Sept 5 (11:32 on Sept 5 Japan time).

In contrast, in the time-series chart, updating the last 18 candles took 18 minutes.

In this case, the P&F chart contains 31 times more price information than the time-series chart.

Thus, in a point-and-figure chart, price information is more densely packed than in a time-series chart, so it can be effectively used for day trading rather than scalping on a 1-minute chart.



The indicators related to today’s article are as follows.


Also, the Point & Figure chart indicator now displays the most recent highs and lows on the right side of the chart.

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