New timeframe trading strategy discovered for scalping
I have discovered a trend pattern correlation to add to my timeframe trading strategy for scalping.
The pink arrows represent 3 am US time and the blue arrows represent 12 am.
12 am and 3 am are significant because they are common pullback, consolidation, and trend break times. I noticed 12 am candles close out almost at initial candle open. If a 12 am candle closes out bearish but close to candle open price this means the bulls pushed hard for a bearish candle.
As seen 12 am bearish candles that close out are followed by a 3am bull close out candle. There are occasions where a 3am candle will close bearish close to open price that followed a 12 am candle that also closed out bearish close. This indicates the scalp failed however also indicating the trend will go be bullish. Its a win win. So stay in the trade if the scalp cancels.
Two entry options. Trade at 1am opposite of the 12am close out and close the trade at the 4am open mark. if the scalp is in your favor. You may see a slight continuation of the trend before going in your direction. The other option is to enter at 3am opposite of the 12 am candle close. If you enter at 3 am it will be a trend trade and not a scalp.You may also see pullbacks here so be patient and disciplined.
The pink arrows represent 3 am US time and the blue arrows represent 12 am.
12 am and 3 am are significant because they are common pullback, consolidation, and trend break times. I noticed 12 am candles close out almost at initial candle open. If a 12 am candle closes out bearish but close to candle open price this means the bulls pushed hard for a bearish candle.
As seen 12 am bearish candles that close out are followed by a 3am bull close out candle. There are occasions where a 3am candle will close bearish close to open price that followed a 12 am candle that also closed out bearish close. This indicates the scalp failed however also indicating the trend will go be bullish. Its a win win. So stay in the trade if the scalp cancels.
Two entry options. Trade at 1am opposite of the 12am close out and close the trade at the 4am open mark. if the scalp is in your favor. You may see a slight continuation of the trend before going in your direction. The other option is to enter at 3am opposite of the 12 am candle close. If you enter at 3 am it will be a trend trade and not a scalp.You may also see pullbacks here so be patient and disciplined.
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