Here is another strategy I'm currently studying and testing...
I named it after the soldier unit in the game command & conquer xP
Here is the plan.
Look for any major structure breakout and follow the market.. When you put a fib extension line from previous
highest structure to the lowest.. You will notice the market will end around between 1.272 and 1.618.
Here you want to wait for candle pattern... in this case a hammer bar formed...
for your first short entry take the previous candle and enter around 0.786. Don't look for a target but just aim for 30p and exit.
What you want to look out for is if a range bound market is going to form before previous structure is going to be retested.
After the zone has been formed you can do 2 things... You can enter a trade at the border and trade in the opposite direction
and aim for the range or you can wait until the market moves to around 1.272... My preference is enter around 1.272...
If you managed to get all 3 enteries... You might want to hold on to your last trade and move your stop to break even when border is reached...
Usually at 3 we can see some major movement again....
Whoops small mistake ... #3 entry is sell entry ofcourse
As you can see I made some nice profit while I was sleeping...
I named it after the soldier unit in the game command & conquer xP
Here is the plan.
Look for any major structure breakout and follow the market.. When you put a fib extension line from previous
highest structure to the lowest.. You will notice the market will end around between 1.272 and 1.618.
Here you want to wait for candle pattern... in this case a hammer bar formed...
for your first short entry take the previous candle and enter around 0.786. Don't look for a target but just aim for 30p and exit.
What you want to look out for is if a range bound market is going to form before previous structure is going to be retested.
After the zone has been formed you can do 2 things... You can enter a trade at the border and trade in the opposite direction
and aim for the range or you can wait until the market moves to around 1.272... My preference is enter around 1.272...
If you managed to get all 3 enteries... You might want to hold on to your last trade and move your stop to break even when border is reached...
Usually at 3 we can see some major movement again....
Whoops small mistake ... #3 entry is sell entry ofcourse
As you can see I made some nice profit while I was sleeping...