All posts tagged Tripod

Forex Scalping Strategies | 2016-06-13 EURJPY +7

Categories: Live Forex Trades
Comments Off on Forex Scalping Strategies | 2016-06-13 EURJPY +7

EURJPY +7 2016-06-13 | 15min Tripod Trade

This is an example on EURJPY’s of a 15 minute tripod set up. This can be see by looking at 15 pip distance from the 1 min boxes back to the 5 min boxes and the fact that the 15min L2 box is in line with the 1 min box This creates a distinct ‘V’ pattern if you drew a line from the lead 1 min box, to the lower 5 min box through to the upper 15min box.

You can find more details about using forex price action to scalp using the Fib Matrix TimeLanes trading software, here

Previous recording Forex Scalping Strategies | 2016-06-09 EURJPY +7

USDJPY +8 pips 2016-05-03 | Orange to White / Tripod

USDJPY has broken to the downside. On the surface this is a balanced call in terms of probability in that, although 17 pips from the 1 min boxes we only have the 1 min support band shade. However, this is also a Tripod set up. This is defined when the R1 1 min box and R2 1 HR box are lined up with the 5 min boxes (as in this case) well above this level creating a inverted V pattern. Admittedly price has move away from the levels, the usual ideal entry for Tripods, but they tend to have a strong pull. In this case the trade produced a net +8

For further details regarding trading forex price action, with the forex TimeLanes trading software, please visit this link

Previous recording Forex Price Action | EURAUD +9 pips 2016-04-27

This site uses cookies. Find out more about this site’s cookies.