Trading M1 off H1 Charts

[immy]

Hi

I've been doing this for a while and today I thought I'll start a new topic to introduce this technique.

It would benefit those who trade the hourly charts. If you trade the hourly charts like us in the AIMS Skype Live Trading Room
you'll know that at times we see high volatility periods. Mostly its due to News Events.

We can trade those high volatility events on M1 without staring at the m1 chart for hrs and hrs.

This technique is a a branch of the Famous Method. A fractal within the famous pattern, if you like.

Step 1. Wait for one strong H1 candle. The candle should be a BULL or A BEAR Candle. Preferably a clean strong OB.
Step 2. Drop to m1 and wait for Setup 1 starting at the close of the strong Bull or Bear Candle.

e.g. below DAX H1

[immy]

here is another example I randomly found. This is EU chart after a news event. But notice that the H1 chart is already in a new structure.

If you like the idea, please reply and comment and go and spend your weekend back-testing it... (no not serious. Jut a couple of hrs would do lol)

[immy]

Below is an example of when it does not form the perfect setup 1 but still something to consider

[Jasmien]

Hello Immy.

Thanks for the Gift. I've spent a some time back-testing it today, I'll continue to do so tomorrow, I understand it so far.

Hope you're having a nice weekend!

[immy]

Thanks Immy for sharing. Great technique for targeting small wins and at the same time filtering noise of m1.

yes, i used it today on DAX ... the LO candle was a strong OB. the Famous Bar/candle... dropped to m1 and waited for perfect setup 1. first I got be then i got 2R. shut down mt4 and started dancing ... ahem i mean doing something else.