Simple's Green Room

[simplegreen]

Hey Qui!..glad to see you back...have a lot going on but staying close to home..trying to catch up on a lot of stuff around the farm...so although I'm off work this week I still don't have much free time to trade or post.I did manage to close a short on EUR/NZD a few minutes ago for 46 pips..was wanting to show you the chart but photobucket is acting goofy on me at the moment.Tried photobucket several times in last half hour but I get the feeling its down for some reason.
If you have the Super Tunnel built then you can see the chart anyway Qui..was trading E/NZD on M1 chart....I opened the short at 1.6583 and closed at 1.6537...I could have had more but EUR/NZD usually has very wide spreads that vary from about 4.8 to 8 or more...typical spreads around 6.5 so its not a good one to scalp for most folks.Many feel that M1 charts are hard trade by but I trade it a lot...also many think that M1 charts yield very few pips reliably but the use of the Super Tunnel has netted me a lot more than the 3 or 4 pips many think M1 might produce.The way the Super Tunnel is designed the lines are 38 pips..or 62 pips..or 100 pips apart regardless of the TF being viewed..case in point being this E/NZD M1 trade...if you check it you will see that the downward cycle on current mini trend bottomed after dropping about 68 pips!I'm out now with good pips and waiting to see if upcycle is trying to start or if continuation lower is in the cards.
At this point I move to an M5 and I'm seeing consolidation at M5 midline..if it breaks about 10 pips below that midline I may open another short with a stop 10 pips above the midline with downside target about 1.6495...if it breaks 10 pips above M5 midline I may go long with target of 1.6570...during this time I will be ever watchful of angle up..or down on Super Tunnel lines on M1.
In typing this I checked photobucket again and its still squirrely...sorry bout that.