Wednesday, October 13, 2010

Don't know if you guys were in Peter's session tonight or not. It was excellent. He drilled down 19 pairs in less than 5 min. The only trade he found was the AUD/USD. He looks only at the day chart. He says 3 entry possibilities on any pair - 1. close on the day above (or below if going short) the last fractal. AUD/USD fits this criteria (although not on accucharts). 2. breakout of consolidation. or 3. FAS outside of consolidation. He says you can enter the trade any time within the first 2 hours after the close of the day's candle. Place your stop 20 pips above or below (depending on direction fo trade) the last fractal. So for this AUD/USD trade, the stop goes at 0.9745. When a new fractal forms, that is when you move your stop up.




He does a session every other Wednesday night and for now it's free. Next time he is going to talk about headroom.

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