cr0cop
87 posts
msg #76513
- Ignore cr0cop |
7/16/2009 1:06:50 AM
hello TRO or anyone who uses the buy zone on Forex, i was wondering if the rules of the buy zone are still these:
(and what type of time frame should we use when doing this....5 minute candles?)
The long zone is the Open Price + .0003 and +.0004.
The short zone is the Open Price - .0003 and -.0004.
For the USDJPY use .03/.04 instead.
Go long on green (bull) candle in the long zone and short on red (bear) candle
in short zone.
I reset the Buy Zone at the start of the hour.
Or you can use the London, New York and Sydney open prices.
SL is 5 to 7 pips.
TP is whatever you can get before it goes against you.
If the candle is GREEN at the Long trigger line, you go long.
If the candle is RED at the Short trigger line, you go short.
There is no other entry.
thanks
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cr0cop
87 posts
msg #76517
- Ignore cr0cop |
7/16/2009 1:37:17 AM
forgot to ask, do you redraw the Buy Zone lines every hour or just at the daily open (one set of lines for the whole day)?
thanks
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TheRumpledOne
6,407 posts
msg #76547
- Ignore TheRumpledOne |
7/16/2009 1:13:30 PM
I use the session open for LONDON, AUSTRALIA and NEW YORK for my Forex BUY ZONES.
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cr0cop
87 posts
msg #76549
- Ignore cr0cop |
7/16/2009 1:38:00 PM
so is this done in 1 minute candle sticks? thanks
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cr0cop
87 posts
msg #76552
- Ignore cr0cop |
7/16/2009 3:04:48 PM
so just to confirm, its LSE and ASX and NYSE, whenever they open that is when you draw your buy zone lines on the EUR/USD? cuz i thought we were supposed to draw them at the time the forex daily bar opens, could you please clear this up for me thanks
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