This was taught to me for free and I give it to you in hopes that you
will make consistent pips with it.
Does it always work? I will leave it up to you to find out.
The basic idea is that when the daily opens we let the Asian market
run its course until the Frankfurt and London Opens.
As you can see I have marked the Daily Open at 5pm EST.
The Frankfurt Open is 1am EST and the London Open is 2am EST.
We begin by drawing a line on the Daily Open Price.
Then we measure 96bars on m5 or 8 hours of distance into the future.
When the Frankfurt Market opens the idea is to fade the Asian market
trend back to the daily open.
In this case you can see that the Asian Market trend was up. So when
Frankfurt opens we get short and ride it back to the Daily Open.
As you can see there was a pull back to the H8 line (green line)
We then sell this off again until we reach the Daily Open.
Try this out for yourself and see how you do. You don't need to kill it
on the first day.
Chances are that if you are selling GBP/NZD you could also fade
GBP/CAD and GBP/AUD as well for additional pips while reducing risk.
Remember to focus on making pips and not making money.
Good luck and many pips to you.
P.S. If you want to code an indicator for it then feel free to PM
me directly so I can know about it to include it in future charts.
P.P.S I trade this on a 5 minute chart but it won't let me post
one as a trading idea. Please make sure to use m5 so you
can see the best times to exit your positions.
Currently trawling through charts, primarily pairs with at least one european currency. Will try to post something back here.
Thanks for your commitment towards keeping retail forex trading world clean & free.