Dear all,
I have been looking through most of the strategy on this forum and i thought its about time for me to post one of my strategy up to join the club.
A very simple strategy that you wont need any charting software for it and it applies best on USD/JPY.
Most traders including myself love to trade on trends but i guess many ignore the fact that we could catch more reliable pips on the retracements.
Try to do this :-
1) Take 5 days high and low on USD/JPY
2) If the 6th day's current price went higher than all the 5 days high, go for a short at 30 pips below the high for confirmation on retracement. Take a profit of 12 pips and the stops loss place just above the high of the day.
3) If the 6th day's current price went lower than all the 5 days low, go for a long at 30 pips above the low for confirmation on retracement. Take a profit of 12 pips and the stop loss place just below the low of the day.
All feedbacks and questions are welcome
Just something to share.
VyNNeR
I have been looking through most of the strategy on this forum and i thought its about time for me to post one of my strategy up to join the club.
A very simple strategy that you wont need any charting software for it and it applies best on USD/JPY.
Most traders including myself love to trade on trends but i guess many ignore the fact that we could catch more reliable pips on the retracements.
Try to do this :-
1) Take 5 days high and low on USD/JPY
2) If the 6th day's current price went higher than all the 5 days high, go for a short at 30 pips below the high for confirmation on retracement. Take a profit of 12 pips and the stops loss place just above the high of the day.
3) If the 6th day's current price went lower than all the 5 days low, go for a long at 30 pips above the low for confirmation on retracement. Take a profit of 12 pips and the stop loss place just below the low of the day.
All feedbacks and questions are welcome
Just something to share.
VyNNeR