Trading with 5m Force Strategy, Day 12

I always miss the start of Tokyo session because it's 6:00 a.m in the morning. Let's see what happened after the start of Tokyo session.

Price went down towards DS1 from daily pivot1. Price bounced over the lower TL and tested two times before started moving towards north. Stoch & MACD were also in proper set up. Good number of pips were there.

Price was then approaching upper TL and bounced & produced a double top. Price was headed downwards. On the way it was producing a long signal. Look how it's changing its direction before producing a confirmed signal.

So always confirmation of signal is necessary. Price after going downwards, bounced back from the lower TL.

Grabbed 7 pips here. Then price again started to move upwards. Took a long trade.

Look how price developed a hammer which guided me to take the long trade. This trade was actually a test trade where price action and chart pattern was added to the force strategy. With this long trade I gained 5 pips.

It was just before the starting of London session. Immediately after start of London session price started to drop sharply towards lower TL which was backed by the WS1 line.

I took the short trade and got 4 pips because, on the next candle price sharply went north.

Then 40 minutes before the news release, a good long signal came. It's always safe to stay away from news. But I wanted tto see the relation of the effect of news and price action.

Figure 07: News release

 

It was nicely related.... luckily, I think.

On the 3rd candle after news release, price sharply moved down. I took the short and grabbed few pips.

Now I want to stop here as I'll have to go out. See you later.

Total pips for today: 7 + 5 + 4 + 10 + 10 = 36

Price action while I wasn't watching............... but required....

Before and after the opening of NY session there were two good signals of 40 pips move each.

Following the long trade after the NY opening higher lows were developing. While price was approaching loer TL, a stoch divergence was developing. A bullish reversal signal developed as evidneced by bullish divergence, hammer & bounce from lower TL.

Good bull move until Tokyo session. Could have taken >60 pips.