Quote from NZDSPeCIALISt:
This present drop in the dollar is a rocket. As I said - I know a guy that successfully trades fx and uses the 8 hour time frame. In his monthly cycle he has approx 73 bars - almost identical to the number of 5 minute bars in a 390 minute session. Use the one hour as a proxy for volume (see November '06 attached chart). Only one settup last month - the rocket, would have got you in long at 1.2600 on the euro (presently 1.3300) - but virtually every Jack Hershey technique is applicable using this settup. Best part is you can trade it checking the screen 3 times a day for 5 minutes (7pm ET, 3am and 11am) when the 480 minute bar closes.
Thanks for posting the application and the set up.
Best trade opportunity of the day occurred right at the open.