For those who tire of sitting in front of their computor all day, this method is the solution, without a doubt. Or, for those who only want one or two premium trades to make their target for the day, this is the perfect set up.
Because I get bored easily, one night I decided to open the euro chart , using the 5 min set up as David presented above, and back test for one month....not all sessions, mainly the London/NY overlap, and a few early Aisian set ups, avoiding news release time periods by at least 1/2 hour.. I was blown away with the results. 9 out of 10 where ITM....very few where questionable ITM, depending on where you entered etc. Very impressive results imho.
So, look at this morning euro....we had a long at 7:50..easy ITM , short Aud at 10:50 easy ITM short Cad at 11:50 and ITM....a short euro at 12:50 easy ITM, short gbp at 12:50 easy ITM. and all of this checking in for a few minutes every hour... the only OTM was a poor entry on gbp at 10:50 and at the last few seconds bit me..lol..moving quickly ITM a minute or so later...
I would have posted a few charts but for some reason cannot do so....as im getting "upload not allowed" message..
Anyway, good set up David...thanks for posting it.