Setup, setup, setup.
Some scalping of 17-27 pips range in here I used following Ichimoku chart for long side;
30 minute chart setup:
Chikou span at buyers side
Tenkan Sen & Kijun Sen bull cross inside of the KUMO (Medium Buy)
15 minute chart setup:
Chikou Span at buyers side
Tenkan Sen & Kijun Sen bull cross above the KUMO (Strong Buy)
5 minute chart setup:
Chikou span at buyers side
Tenkan Sen & Kijun Sen bull cross below the KUMO (Weak Buy) – this seems to occure often with retracement level which increases the odds (specially if you know the EW theory).
– 5-15 min Oscillators at buy side.
1 minute chart setup:
Chikou span at buyers side
Tenkan Sen & Kijun Sen bull cross below or above the KUMO (Weak buy or Strong Buy) – this seems to occure often with retracement level which increases the odds (specially if you know the EW theory).
– 5-15 min Oscillators at buy side.
Would not trade this setup over macroevent flows, but in the middle of US market hours worked well with retracements.
(after all also kept in mind that we mind zigzag w4 in here which would increase odds for pretty lazy behaviour and roof for any quick runaway to exit immediately.)
To increase the odds, I suppose 60 min chart could be applied, in this particular case there would be weak buy, no more. On the other hand too large timeframe can be trap also, this is not stockmarket….
