I made some 60 seconds trades and I want to share them with you.Let’s take a look in my results.
I took 4 trades and I had 3 ITM.
In this article I am going to analyze and explain my setups. In these setups I traded only EURUSD for today and I took them in about five minutes.Before that, I was watching the EURUSD behavior and when I saw the first opportunity I took it. So, it’s time for the setups.
This chart is form EURUSD currency pair as I said above. All my trades are in the blue box. I put a tick in ITM trades and a X in OTM trade. The indicators I use in this chart are Ichimoku Kinko Hyo and VSA for the volume, but in this case I took the trades only by price action and VSA.
In the chart you can see 4 horizontal lines.They are support and resistances. In the first call arrow I took my first trade.We have a broken resistance in the second red horizontal line (from the bottom) .We have a new resistance in the third horizontal line and we have also a reversal.The reversal red bar is big and hit the previous broken resistance which now acts as a support. The volume bar is red so I took an easy ITM call.
My second trade was OTM. For every OTM trade is important to do your research and see if the fault is yours or the market is moving unpredicatble.
In this case the fault is mine. I took a put but the previous candle didn’t hit the resistance and we don’t have heavy buys at tops(selling signal).
The last red horizontal line is a previous strong resistance. We have a small rejection(the small wick of the green candle) and big buying volume at tops (the green volume bar). I took a put. Solid ITM.
I took the trade because the price hit the previous broken resistance which acts as a support now. ITM.
As you can see, all of these setups are easy. I took the trades only by volume patterns and price action in about 5 minutes. It’s important before your trades to understand the market condition. We were in a strong uptrends and i took 2 trades with the trend and 2 against the trend. The one OTM was against the trend. I recomment to trade with the trend in the beginning until you will be ready to identify where are the good pull backs.