Trading USD/CAD
Mostly trading the reverse of S&P
Sell the lows and buy the highs. On a 5 min chart if we get new low or high as compared to the previous low or high we are trending, up or down does not matter but its good time to trade.
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Here is an example of a squeez. Its like a high volume area that acts like a magnet
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Another area of interest
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One thing to bear in mind is that trade with a spread of less than 2 pips. Also always look for 5 min doji's as they are magnets too.
With reference to the above charts this is how the consolidations have played out. Some consilidation is from the overnight.
Originally posted by Looser
With reference to the above charts this is how the consolidations have played out. Some consilidation is from the overnight.
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Hear is the same chart with 5 min Dojis and current price
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