Morning Reversal at: Prior Day Close at 5.12 am
US Market Open Move ended at: 200 EMA at 10.38 am
Low of the Day: S1
Close of the Day: S1
Profit 40 Points Overbought & Oversold System
Profit 100 Points MTP Manual DP System
Today I am expecting an long trade opportunity at the open with first resistance in the 5580 to 5590 area or 2nd resistance in the 5700 area.Alternative we have a continuation short signal at the open and trade first down in the 5505 5460 area and then up again.
60 Minute Charts Elliot wave is suggesting a drop down to 5390. So my main plan for today is to trade short and get those 200 points :-)
Update 4 am: New Resistance Area for long trade 5542 to 5549 or bounce at double top 5537
Update 6 am: four good moves in the morning session, to make my scalping method more effective I would do this the next trading day:
Identify initial direction by taking any signal till 3.15 am then reversing at support area holding till resistance area and/or double top and then back down to the next support area. Since buyers usually buy at the bottom of a channel it makes no sense anticipating a bounce in the middle, so when the position is save with a breakeven stop its wise to let it run to the support area.
The US Session was pretty much sideways the Non Farm Payroll Events was only playable with a box breakout, therefore not much do do after the news release.
US Market Open Move ended at: 200 EMA at 10.38 am
Low of the Day: S1
Close of the Day: S1
Profit 40 Points Overbought & Oversold System
Profit 100 Points MTP Manual DP System
Today I am expecting an long trade opportunity at the open with first resistance in the 5580 to 5590 area or 2nd resistance in the 5700 area.Alternative we have a continuation short signal at the open and trade first down in the 5505 5460 area and then up again.
60 Minute Charts Elliot wave is suggesting a drop down to 5390. So my main plan for today is to trade short and get those 200 points :-)
Update 4 am: New Resistance Area for long trade 5542 to 5549 or bounce at double top 5537
Update 6 am: four good moves in the morning session, to make my scalping method more effective I would do this the next trading day:
Identify initial direction by taking any signal till 3.15 am then reversing at support area holding till resistance area and/or double top and then back down to the next support area. Since buyers usually buy at the bottom of a channel it makes no sense anticipating a bounce in the middle, so when the position is save with a breakeven stop its wise to let it run to the support area.
The US Session was pretty much sideways the Non Farm Payroll Events was only playable with a box breakout, therefore not much do do after the news release.
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