I have a target of 100 pips a night when trading M5 & M1. Some nights M5 is untradeable so I just stay with M1.
I don't hit my target every night because I need to have three things happen. I need to be able see the move happen quickly, I need small runs of at least 25 pips and I need to be in sync with the market.
Some nights I just can't get a handle with the flow of the market. Perhaps its just too random to be able to trade the market or perhaps I am just having a bad night, its hard to know sometimes. I do find that when trading these time frames, if you miss the early move its probably too late to enter. I just wait for the current trend to fail and take the next move which is often stronger. The interesting thing about my trading charts is that I normally never trade with trend lines on my charts, just horizonal demand and supply zones. However for some strange reason, trend lines are fantastic on the M1 time frame so I have now found a new love for them.
But don't tell the Trendline King Spec.
USDJPY
Anyway here's a trade I have been on for a few hours with M1
There was a Upwave - Broken trend for 22 pips
There was a Downwave - Broken trend only for 8 pips
There is now a Uptrend - 3 trades and now up 24 pips
I am just mapping the trend. I noticed the angle of this current Upswing is 55 degrees which is a good clue to go long with multiple trades.
