Strategy:
1. Locate trend on 30mn chart
2. Ensure 200SMA is showing complete resistance
3. Confirm complete resistance of 200SMA on 5mn chart
3. Confirm complete resistance of 200SMA on 1mn chart
4. Execute on CCI trigger (100% cut for downtrend, -100% cut for uptrend)
Risk Assessment:
- 1:1 RiskReward
- Default 10 pips Stop
- Risk 1% or less per trade
- Don't deviate
!Important: check higher time frames for main trend and eventual pattern presence that could change the momentum quickly
Courtesy of Walter England (FXCM)
PS: this triggers every 30 minutes on a nice trend
Have fun!
1. Locate trend on 30mn chart
2. Ensure 200SMA is showing complete resistance
3. Confirm complete resistance of 200SMA on 5mn chart
3. Confirm complete resistance of 200SMA on 1mn chart
4. Execute on CCI trigger (100% cut for downtrend, -100% cut for uptrend)
Risk Assessment:
- 1:1 RiskReward
- Default 10 pips Stop
- Risk 1% or less per trade
- Don't deviate
!Important: check higher time frames for main trend and eventual pattern presence that could change the momentum quickly
Courtesy of Walter England (FXCM)
PS: this triggers every 30 minutes on a nice trend
Have fun!