Sunday, June 21, 2009

4 hour chart trades

The great thing about 4 hour charts is that when a bar from that chart closes above or below any length trendline...it shows more conviction in that direction. At night I will only use this method for a scalp trade. Here is the Eur/USD, which we discussed in the last post as looking weak longer term. (Clicking on the chart gives you a clearer view):

I did a small trade for a $52 profit.
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