E/U daily correction system - MT4/MT5 resources
Hello,
I would like to explain what I know about the E/U correction, which is 90% effective daily and can be noticed on other --/USD/-- charts, but not as perfect as the EU.
So, watch the 5 m candle close every day at 16pm (GMT) / 4pm (GMT) and draw the horizontal line and watch the price move an average of 45 pips away from the line every day, sometimes up to 70 to 80 pips, then it has to come back to the exact price of the line, which can sometimes deviate from the line by 3 to 10 pips, which is most likely to happen when there is a big move from the line (like < 45 pips).
I share this to better understand the EU's behavior in this time zone and not to be completely blind to what is going on.
greeting,
Alaa Manawi
I would like to explain what I know about the E/U correction, which is 90% effective daily and can be noticed on other --/USD/-- charts, but not as perfect as the EU.
So, watch the 5 m candle close every day at 16pm (GMT) / 4pm (GMT) and draw the horizontal line and watch the price move an average of 45 pips away from the line every day, sometimes up to 70 to 80 pips, then it has to come back to the exact price of the line, which can sometimes deviate from the line by 3 to 10 pips, which is most likely to happen when there is a big move from the line (like < 45 pips).
I share this to better understand the EU's behavior in this time zone and not to be completely blind to what is going on.
greeting,
Alaa Manawi
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