The big news seen overnight was the energy sector creeping higher as shares broke through January highs on the rally in crude oil prices.
Squawk / 30 June 2016 at 16:26 GMT
Hypothesis Testing
United Kingdom
Following yesterdays trade strategy for USDCAD for micro scalps here is a follow up to the second set up for scalpers.
We use the same range marker candle and look for an hourly close outside of that marker candle trading range. Today it closed to the upside so we add the original trading range to that close value. Thus we have an implied day high value.
Note; the implied day high value is a Bayesian probability for the safest target high with the maximum probability of success IT DOES NOT mean the absolute high...the market can easilly rally upwards but for this strategy it implies a greater risk factor.

The irony is that I done this exact trade but got a bad fill on my close so covered at 1.3003 as opposed to my expected 1.3008 but still profits are banked.
fxtime fxtime
Please excuse the bad spelling on the chart....I am a bit short of time today LOL.
Michael O'Neill Michael O'Neill
It was a great trade and a great strategy.
fxtime fxtime
Mike did you try either of the strategies?? I think you got the early short trade but did you paper trade the second or third? I can email the data sets for you if you want them...enjoy your Canada day mate.
Michael O'Neill Michael O'Neill
I tried the first one and was too busy to do the second. Please email me the strategies. that is greatly appreciated..


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