1 hour day trading technique...18thoct

15min inside bar. + Div RSI, long entry at 5925, stop below 5917 or yesterdays lows, inside bar breakout level 5931

Sorry for the delay
First hour high 5923.9
first hour low 5901.5

Add 2 points ether side for entry(do your own)
first hour Long entry level 5925.9 ,Target 26.4 points so 5952.3

first hour short entry level 5899.5, Target 26.4 points so 5873.1

Please bear in mind the ftse is near major resistance so things can get choppy.
Ive noticed its best to be on the sidelines when near major resistance or support.



DYOR

First hour high 5934
first hour low 5911

Add 2 points ether side for entry(do your own)
first hour Long entry level 5936 ,Target 27 points so 5963

first hour short entry level 5909, Target 27 points so 5882

Please bear in mind the ftse is near major resistance so things can get choppy.
Ive noticed its best to be on the sidelines when near major resistance or support.

dl.dropbox.com/u/4899609/1hour18thdec.png

DYOR

Hi Remo thanks for the daily information, but Ig have a low of 5923 in the first hour. Is your figure to take account of another possible gap up?

Thanks

Tom aka MD

Hi maxinesDad
Thanks for that.
This is the problem when it gaps up. Its probably best if you dont take any price action in the first 5 mins if theres a gap up.This method does need refining by individuals.
Normally i would not take IG prices but you are right .As when i looked at a 1 min chart it shows the low at 8:01 am as 5911 then 8:02 as 5925 so it did not move that much in less than a minute. So best to modify the system to incorporate no trading levels in the first 5 mins if theres a gap up or down. otherwise it should be ok.
Thanks for that.
remo going back to adjusting levels again.

First hour high 5956.65
first hour low 5945.85

Add 2 points ether side for entry(do your own)
first hour Long entry level 5958.65 ,Target 14.8 points so 5973.45

first hour short entry level 5943.85, Target 14.8 points so 5929.05

Please bear in mind the ftse is near major resistance so things can get choppy.
Ive noticed its best to be on the sidelines when near major resistance or support.