Day Trading Blog: Trading Plan: Key Reversal times (they really work)

Saturday, January 15, 2011

Trading Plan: Key Reversal times (they really work)

The Euro has this key reversal times on:
Monday: 5.30 am, 9-10 am
Tuesday: 3 am, 8 am and 10 am
Wednesday: 5 am, 7 am or 11 am
Thursday: 3 am, 7 am, 10 am
Friday: 1 am, 4-5 am and 11 am

Crude Oil has this key reversal times on:
Monday: 4 am, 10 am or 11 am and 2 pm
Tuesday: 5 am, 8 am and 9 am, 10 am and 1 pm
Wednesday: 4 am, 8 am and 11 am
Thursday: 4 am, 9 am and 12 pm
Friday: 4-5 am, 9 am or 11 am

Fdax has this key reversal times on:
Monday: 3 am, 6.00 am, 10 am
Tuesday: 3 - 5 am, 9 am - 10 am
Wednesday: 3 am, 8 am, 10 am (short)
Thursday: 3 am, 8 am, 9-10 am
Friday: 4 am, 9 am

2 comments:

simonliveJanuary 16, 2011 at 5:05 AM
It shouldn't be to difficult to compile a simple strategy to test these time frames.
BTW, in which timezone are you?
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daxdaytraderJanuary 17, 2011 at 10:12 AM
in eastern time (new york)
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Trading Rules:

how to trade profitable? with KSE. knowledge, strategy, execution.
Knowledge: You need to buy low and sell high. So I wait for the price to first go to a prior support level on the daily, 4h, 1h chart.
Strategy: Timing is important so I trade when there is a good setup on the dax, s+p, nasdaq or oil market. My goal is to make few trades with high risk reward, that is archived by either holding a trade till the market closes or reaching a level that sets up a counter trade.
Execution: Usually there is only a 20 point risk involved, so I try to get into a prior support level on the 10 min chart and automatically set a stop and multiple take profit targets.
All the little details how to trade better are listed here but I like to keep it simple: just enter the market at prices with a target that it at least 3 times the initial risk.

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