弹弓方法A (SlingShot Method A)
Tested on GBPUSD
THe method is so simple even a caveman could do it! ("ahem")
Method goes like this.
1. Notice the Current Trend
2. Watch Opening price of daily candle *around 5PM EST depending on broker )
3. If Trend is up and price Reaches -30 pips from open, place a BUYLIMIT @ Opening price+15 Pips.
so if price opens at 1.9230, price falls to 1.9200, place order at 1.9230+15 = 1.9245.
TP Exit is discretionary, My exit is dependent on Average daily range for last 10 or so candles, if candles are doing average of 120 pips a day, then exit would be 120-(30+15)= 75 pips away from entry. I also watch momentum and lower time frame charts for exit.
TP Exit is discretionary, SL is normally 30 pips away from open.
I do not recommend going against the trend even though sometimes it works. It just happens that trading with the trend have a higher chance of succeeding
THe method is so simple even a caveman could do it! ("ahem")
Method goes like this.
1. Notice the Current Trend
2. Watch Opening price of daily candle *around 5PM EST depending on broker )
3. If Trend is up and price Reaches -30 pips from open, place a BUYLIMIT @ Opening price+15 Pips.
so if price opens at 1.9230, price falls to 1.9200, place order at 1.9230+15 = 1.9245.
TP Exit is discretionary, My exit is dependent on Average daily range for last 10 or so candles, if candles are doing average of 120 pips a day, then exit would be 120-(30+15)= 75 pips away from entry. I also watch momentum and lower time frame charts for exit.
TP Exit is discretionary, SL is normally 30 pips away from open.
I do not recommend going against the trend even though sometimes it works. It just happens that trading with the trend have a higher chance of succeeding
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