DEC 14 EUR/USD 5 minute CHARTING

[GalvestonForex]

Please take a look at the attached image; it is today's 5 minute chart for the EUR/USD. We have plotted in trend lines and supports and resistances, using the smaller timeframe we are able to enter new or developing trends in a timely manner with very little downside risk. Our goal is to average 15+ pips on each currency pair we trade, if we can successfully trade 8 pairs on any given day we can expect 120+ pips per day, 600 per week, 2400 per month.

Take the time to explore the 5 minute timeframe, send or post any insights that you may have. 15 pips a day should be no problem for a group of intelligent traders in this forum.

[torero]

Maybe after trading with the dealing desk due to their wide spreads for a while, I was brainwashed to trade higher timeframes than scalping from smaller timeframes. I think it's possible, but the noise is quite loud in the smaller timeframes. Plus there are alot of areas of doldrums that it takes a long time to get moving in one place or another. Just my opinion though.