Abe's Journal

[apoovakad]

It helps, more than you know Grant.
Thanks again. Gave me a lot of things to think about, and will add it to my Trade Rules along with the 20 pip move...

[apoovakad]

I did have just one question with regard to watching the 5min ranges. Which 5 min range do we pay attention to? As the range gets narrower on the 5 min, do we go out beyond the most current 5 min levels to avoid whipsaws on the 1min or do we literally only pay attention to the most recent 5 min ranges when we look to place PO orders on the 1 min?

[immy]

You can only find out during live trades which levels are the ones you should be looking for. Depending on the time of day of the week etc and how tall the aims levels are on m5 you should be able to ascertain whether it is a "trendy" "moving" day or just a pure chop. e.g. price remains stuck in range e.g 4050pip move during an entire session. we can safely assume there is no trend. so we wait for m5 to create a saddle point and take setups when it breaks out. or else wait for price to show a clear trend on m5 and only then make entries on m1. i hope this helps.