Hello Folks,
The Heading is a question?? Not a statement! sorry for the confusion........ So here we go..........
I was doing some reading and heard that every morning, between the hours of 8a.m. est- 9a.m. est The USD/CAD pair starts to move religiously for an easy 20 pips. I did some backtesting to see for myself, and the results look pretty promising.Not sure you will get 20 pips per day, but there are pips to get with low stress and a small stop loss.... I am a newbie trader, so I wanted to see if some of the more experienced traders could help me backtest and maybe come up with some more confirmation tools to be extra accurate. You will have to take into consideration days that the USD and CAD have new and not trade.. I have only been demoing non news days or low impact news days.
p.s. ( There are times the currency will move sideways, and sometimes the first 30 minutes will be going in one direction, then reverse on the next 30 minutes) be careful!
here it is:
Open a USD/CAD 5 Minute Chart at 8:00 a.m. Eastern Time.
Watch the movement of the currency for the first 10-15 minutes. .. 70+% of the time, this gives you the direction the Dollar is going to keep moving for an hour or so.
If the candles show the Dollar is rising, BUY and hold for 20 pips or so.
If the candles show the Dollar is dropping, SELL and hold for 20 pips or so.
set stop loss at 10-15 pips...
I look forward to hearing your thoughts, and who knows? maybe we can make some good easy pips.
The Heading is a question?? Not a statement! sorry for the confusion........ So here we go..........
I was doing some reading and heard that every morning, between the hours of 8a.m. est- 9a.m. est The USD/CAD pair starts to move religiously for an easy 20 pips. I did some backtesting to see for myself, and the results look pretty promising.Not sure you will get 20 pips per day, but there are pips to get with low stress and a small stop loss.... I am a newbie trader, so I wanted to see if some of the more experienced traders could help me backtest and maybe come up with some more confirmation tools to be extra accurate. You will have to take into consideration days that the USD and CAD have new and not trade.. I have only been demoing non news days or low impact news days.
p.s. ( There are times the currency will move sideways, and sometimes the first 30 minutes will be going in one direction, then reverse on the next 30 minutes) be careful!
here it is:
Open a USD/CAD 5 Minute Chart at 8:00 a.m. Eastern Time.
Watch the movement of the currency for the first 10-15 minutes. .. 70+% of the time, this gives you the direction the Dollar is going to keep moving for an hour or so.
If the candles show the Dollar is rising, BUY and hold for 20 pips or so.
If the candles show the Dollar is dropping, SELL and hold for 20 pips or so.
set stop loss at 10-15 pips...
I look forward to hearing your thoughts, and who knows? maybe we can make some good easy pips.
Things can get Real ugly, Real quick!!!