I look for areas where there could be a nice reversal , swing highs /lows , pivot points and BB spikes and around the numbers 20-50-80-100
Then i like to flick between the time frames , i get my ideas my areas of interest from the bigger time frames the 1 and the 4 hour , for my entries i go smaller time frames normally the one hour and the 15 , occasionally the 5 and i look for correlation between the time frames if the one hour and the 15 min are both spiking thro my lower BB it builds the case for the Buy
Also watch the candles in this chart we can see nice big red candles taking me down to my level of interest then we start to see some spikey candle s this is telling us that the seller s are getting tired ,buyers are coming into the market the candles are changing from strongly bearish to mildly bullish ,DO YOU WAIT for your perfect entry slightly lower or jump in EXPERINCE is your biggest guide here ,sorry you need chart time both live and reviewing the days action latter .This build s your candle memory ,invaluable for scalping and really all trading you will see candle activity ,candle patterns and the trade will scream at you
If you get in at for example the 70 area and you are scalping be realistic with your pip expectation , if it can go thro the 80 there is a strong chance it s going to the 100 but it could take a breather here so take 25 pips LOVELY JUBBLY
GREED , will destroy your account
REGULAR consistent winners will build your account
Keep safe traders
All the best
Rob
Then i like to flick between the time frames , i get my ideas my areas of interest from the bigger time frames the 1 and the 4 hour , for my entries i go smaller time frames normally the one hour and the 15 , occasionally the 5 and i look for correlation between the time frames if the one hour and the 15 min are both spiking thro my lower BB it builds the case for the Buy
Also watch the candles in this chart we can see nice big red candles taking me down to my level of interest then we start to see some spikey candle s this is telling us that the seller s are getting tired ,buyers are coming into the market the candles are changing from strongly bearish to mildly bullish ,DO YOU WAIT for your perfect entry slightly lower or jump in EXPERINCE is your biggest guide here ,sorry you need chart time both live and reviewing the days action latter .This build s your candle memory ,invaluable for scalping and really all trading you will see candle activity ,candle patterns and the trade will scream at you
If you get in at for example the 70 area and you are scalping be realistic with your pip expectation , if it can go thro the 80 there is a strong chance it s going to the 100 but it could take a breather here so take 25 pips LOVELY JUBBLY
GREED , will destroy your account
REGULAR consistent winners will build your account
Keep safe traders
All the best
Rob