The 1 and the 15 min relate in the same manner as the 1 HR & Daily Fractally Speaking. Obviously the gains are more of a scalp scenario so a 25/25 OCO was used. Not much to do likely ahead of the US election and market can drift any direction in anticipation so I thought to post this trade as a review.
1. The 15 min Stoch cycle & 5 EMA run in the direction of “momentum” from the FBI announcement was the direction chosen to trade a setup. The stoch on the bottom of the 1 min chart is the 15 Min stoch but can be viewed on the 1 min chart live.
2. London traded the retracement down so at the NY open came the timing for a setup.
3. Just prior to and at the NY open the 15 min stoch was OS. A 15 min stoch cycle can last 2-3 hours on average.
4. The 1 min will give the clues and updates sooner than the 15 min just as the Hourly does for the Daily in swing trading.
5. As the 21-55 MACD on the 1 min crosses the ‘0’ line to the upside it’s an early indication the micro trend is reversing.
6. What pulls it above the ‘0’ line is the visible COT with a HH & HL as shown.
7. At the same time the candles will move across the 55 EMA giving another indication.
Once up on this trade approx 15 pips I jammed the stop given that volatility could come in today. From this point on the “Math Within a Trend” of HH’s & HL’s will keep the MACD and candles above as the math “Can’t Lie” to us as in trading this 2 time frame momentum strategy. Note; if price had went on to a new low after the orange circle the MACD would’ve stayed below the ‘0’ line and the entry would’ve come later after a COT. The TP was hit shortly after this snap shot. Hope you enjoy.