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2 Forex trading strategy #2 (Slow moving averages crossover)........................................................3 Forex trading strategy #3 (Stochastic High-Low)..............................................................................4 Forex trading strategy #4 (RSI High-Low)..........................................................................................5 Forex trading strategy #5 (Stochastic lines crossover)....................................................................6 Forex trading strategy #6 (Double Stochastic)..................................................................................7 Forex trading strategy #7 (Simple MACD crossover)........................................................................8 Forex trading strategy #8 (EMA breakthrough).................................................................................9 Forex trading strategy #9 (Basic balanced system)........................................................................10 Forex trading strategy #10 (Parabolic SAR + ADX).........................................................................11 Forex trading strategy #11 (EUR/USD simple system)...................................................................12 Forex trading strategy #12 (Trend line tunnel)................................................................................13 Forex trading strategy #13 (Simple 1-2-3 swings)...........................................................................14 Forex trading strategy #14 (5x5 Simple system).............................................................................15 Forex trading strategy #15 ("Key Simplicity").................................................................................16 Forex trading strategy #16 (Simple breakout System)....................................................................17 Forex trading strategy #17 (Teodosi simple system)......................................................................19 Forex trading strategy #18 (Teodosi Moving Averages' tunnels)..................................................21 Forex trading strategy #19 (Egudu simple 4 tools trading)............................................................23 Forex trading strategy #20 (Trading MACD consolidation) ...........................................................24 Forex trading strategy #21 (Egudu EMA+ADX Strategy)................................................................25 Forex trading strategy #22 (H4 Bollinger Band Strategy)...............................................................26 Forex trading strategy #23 (GBP/JPY Breakout Strategy)..............................................................27 Forex trading strategy #25 (H4 Bollinger Band Breakouts) more to come...................................28 COMPLEX STRATEGY.......................................................................................................................29 Complex trading system #1 ("Multi-conditional")...........................................................................29 Complex trading system #2 (2-Cross)..........................................................................................30 Complex trading system #3 (Divergence)........................................................................................32 Complex trading system #4 (Trend trading with EMAs).................................................................33 Complex trading system #5 (Fibonacci trading) ............................................................................35 Complex trading system #6 (Munzer Forex System)......................................................................37 Complex trading system #7 (Mohammed Munzer Forex system) more to come.........................38 ADVANCED STRATEGY....................................................................................................................39 Advanced system #1 (Midnight setup).............................................................................................39 Advanced system #1-a (Midnight setup addition: Trading Breakouts of the Breakouts)............42 Advanced system #2 (Fibonacci trading).........................................................................................43 Advanced system #3 (Neat entry: RSI + Full Stochastic)...............................................................45 Advanced system #4 (Early bird Breakout System)........................................................................46 Advanced system #5 (Trend Lines Breakout System)....................................................................47 Advanced system #6 (Picking Tops and Bottoms) ........................................................................49 Advanced system #7 (EUR/USD breakout system).........................................................................51 Advanced system #8 (4 CANDLES STRATEGY) more to come.....................................................52
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Advantages: it is easy to use, and it gives very good results when the market is trending, during big price break-outs and big price moves. Disadvantages: Fast moving average indicator is a follow-up indicator or it is also called lagging indicator, which means it does not predict the future market directions, but rather reflects current situation on the market. This characteristic makes it vulnerable. First, because it can change its signals any time, second you need to watch it all the time, third - when market trades sideways (does not trending) with very little fluctuation in price it can give many false signals, so it is not suggested to use it during such period.
Current strategy applies the same principles as Strategy #1. Use time frame and currency which respond the best (1 hour, 1 day or any other). Indicators: (multiple of 7) 7 SMA, 14 SMA, 21 SMA. Entry rules: When 7 SMA goes through 14 and continues through 21, BUY/SELL in the direction of 7 SMA once price gets through 21 SMA. Exit rules: exit when 7 SMA goes back and touches 21 SMA.
Advantages: again it is an easy set up and does not require any calculations or other studies. Can produce very good results during strong market moves, the system also can be easily programmed and traded automatically. Disadvantages: System requires periodical monitoring according to a chosen time frame. SMA indicator signal can be confirmed after the current price bar has been fully formed and closed. In other words, when SMA stops changing and the signal is fixed, traders may rely on such information to open a trade.
Advantages: gives quite accurate entry/exit signals in well trending market. Disadvantages: needs periodical monitoring. Stochastic is suggested to be used along with other indicators to eliminated entering on false signals.
//In simple words, Stochastic oscillator uses two lines: %K - a fast line and %D - a slow line. %K line is calculated using the most recent close, the highest high over the last X days and the lowest low over the last X days. %D line is a Y period moving average of %K General rules can be described as follows: Signals to Buy and Sell occur when %K crosses above or below %D. Reading above 80 suggests an overbought market and reading below 20 - oversold.//
Advantages: RSI is a very good indicator to refer for confirmation for any entry in any simple or complex trading system. For current trading method it advices well on entries, but opportunities occur not that often. Disadvantages: monitoring is needed, still false signals take place. Strategy is suggested to be used in combination with other ones.
//You may try combining RSI with Stochastic (5, 3, 3). Entry should be initiated on Stochastic lines cross and only if RSI has returned from overbought/oversold area. Not all Stochastic crosses are valid for entry though. Use only those that occur below 30 and above 70.//
Advantages: can give entry and exit rules, easy to use. Disadvantages: Stochastic is a lagging indicator with this lines crossover system it can create a lot of false signals. Traders may want to change Stochastic regular settings for each particular currency pair to eliminate as many false signals as possible. Stochastic crossover system is good when used in combination with other indicators.
Advantages: using two Stochastic indicators helps to see the major trend and the swings inside it. This gives more accurate entry ruless and gives a good exit rules. Disadvantages: needs constant monitoring, and again we are dealing with a lagging indicator.
Advantages: very simple approach and can give good profitable entries. Traders may want to change MACD default settings depending on the currency and chosen time frame. For example, traders may test next MACD set ups: USD/CHF MACD (04, 07, 16), EUR/USD MACD (02, 03, 20), GBP/USD MACD (02, 03, 04) for different time frames. Disadvantages: you will need to sit and monitor it again and again. MACD has little use in sideways trading market. It is also never used alone, but rather in combination with other indicators.
Advantages: allows filtering entries and thus is more accurate. Disadvantages: 5 and 10 EMAs can give very early exit signals.
Advantages: allows filtering entries and predicting good exits. Disadvantages: Both Parabolic SAR and ADX are follow-up indicators. Although they complement each other very effectively, the weakest in chain is ADX, because during trading it can give one signal, but later change to the opposite. Once given a signal from ADX, waiting for the current price bar to close to avoid such misleading is advised.
Advantages: very simple and extremely effective. It can provide 100% profitable entries if short profits are taken - usually with the close of the first candle right after the entry. Disadvantages: very accurate and well thought entry point should be picked. Orders placed very close to the tunnel can be triggered by sudden whipsaw early before real breakthrough occur.
Advantages: gives 100% profitable entries. Disadvantages: does not advise on exits.
It is a very very simple system, yet with quite impressive results. Always remember to take actions/enter the trade only after the signaling candle is closed. This Strategy or trading idea can be used to create more advanced trading version.
Since it is a daily system the logic behind it can be described as simply following the daily trend. Because EMAs are lagging indicators they actually help us in this case. The signalling EMAs' cross appears after a good pause which is just enough for the new trend (if any) to be established.
We are aiming at at least 20 pips profit. After that we have several options: lock the profit in, start "chasing" the price with a trailing stop by placing the stop just below the lowest low of the previous 5 min candle, or simply exit within the three consecutive hourly candles from the moment the trading order was filled.
Exit rules if we are in a sell trade and ... we have oversold RSI and Stoch and we see this up candle which has closed at 50% of the last down one - exit and enter another trade. Like I said this very simple and very very profitable system. O, and I put my stop lost at -100 pip. I`ll be glad if you post it ... and want to see what folks will say about it ... :)" Teodosi. -----------------------------------------------------------------------------------------------Sure, we posted it! Thank you and happy Forex trading! Learn about another Simple system by Teodosi at http://forex-strategies-revealed.com/teodosi-moving-averages-tunnels
Always close your position when boundaries of the red tunnel cross eachother or when they become so narrow that they are one! This is a clear sign of a trend reversal. After you see this, close your position and open a new position in the other way (If you were long, close, open a short position) When in a trade and the 5 WMA & 12 WMA cross the red tunnel -> Pay attention! As long as the red tunnel boundaries doesnt cross eachother there is no problem, but often this is a sign that they will!" Teodosi ----------------------------------------------------------------------------------------------------------What else can we say? Well done, Teodosi! Thank you from all our users for sharing the system! Learn about another Simple system by Teodosi
enter long once the 7EMA crosses 21EMA up and the ADX has passed it's 25 or 20mark and the MACD is trending up.the other way round is for short position. Note only enter a position once the ADX has passed it's 25mark. Exit: exit any position once the 7EMA crosses the 21EMA. Also, the MACD should be looked at before entering a trade, when it's consolidating, you should stay away from the trade. l am egudu. Egudu, Thank you from all our users and web team! Your contribution is greatly appreciated!
Entry: place a buy stop and a sell stop 5pips during the MACD consolidation with a stop loss of 10pips from entry and a profit target of 30-50pips. Please note that, the MACD must be very close, in fact it should almost become a straight line only then should you enter the positions. l hope to give a picture shot of it soon, but u can check the chart of GBP on the 7th, 10th, 14th of Dec 2007 on the hourly chart. ---------------------------------------------------------------Egudu, thank you once again, and we hope to hear from our users about their tests and trading performance with this strategy.
For those conservative traders, you could add 55EMA and 89EMA to know the trend and only enter a position according to the trend,that's enter long when the 55EMA is over the 89EMA and all other parameters are in place as i have stated above. Additional Forex systems by Egudu can be found at: http://forex-strategies-revealed.com/egudu-4-tools-trading http://forex-strategies-revealed.com/trading-macd-consolidation
Credits to James Ayetemimowa - our valued contributor! GBP/USD when it is 1 hour to london open, draw lines on the highest high since midnite and lowest low since midnite, just trade the breakout and let ur stop loss be at the high of the candle that broke the low line for short trade and the low of the candle that broke the upper line for long trade if u experience a breakout before New York Open, please target the first 30pips if beyond New York Open before a break please target between 10 to 20 pips
Forex trading strategy #25 (H4 Bollinger Band Breakouts) more to come...
H4 Bollinger Band Breakouts by Rpchost.com Open the 4 hour chart and choose whatever currency you want. Insert the Bollinger Band (20) indicator and be sure that its center line is appearing. Identify 2 valid lower points OR 2 valid higher points in the Bollinger Band and drop a line from the first to the second line; it will be our break line. Now when a candle closes above the break line issued from the higher points and in case the center line of the Bollinger band in the 1 hour chart crosses the break line then we have a LONG Trade. If the candle in the 4 hours chart closes under the break line issued from the 2 lows points and in same time the center line of the Bollinger band crosses the break line in the 1 hour chart, then we are in a SHORT trade. http://rpchost.com/
The 2 crosses do not have to happen simultaneously. MACD lines can cross earlier than EMA and SMA or shortly after, but there should be no more than 5 candles in between 2 crosses. If 2-cross condition is not met no entry. Exit rules: exit with the same rules as for entry: when two crosses are in place. If we have only one cross we are still in trade. Profit target: a) can be set to a desired amount of pips and followed with trailing stop further once the target is reached. b) or use 50 pips profit target do start chasing the price with trailing stop after gaining 50 pips. c) or you may not use trailing stop and set no profit targets, then exit according to Exit rules on the next 2-cross.
Lets walk through the numbers: #1 EMA 5 crosses 15 SMA, MACD lines also crossed, price is not close to SMA 100 we place Long order. #2 again we have 2 crosses: moving averages cross and MACD we exit Long and immediately place Short order.
# 3 2 crosses are in place, by the time our current signaling candle is closed we are already far enough from 100 SMA, so we close Short and open Long position. Yes, till this point we were trading in sideways moving market so no profits here, may be some small negative results. Solution trading only during active hours, for GBP/USD it is London and New York sessions. #4 As we were Long this point is our exit (2-cross condition is met again) and immediately place Sell order. #5 moving averages on the chart have crossed, however MACD does not, we stay in trade. We watch price passing 100 SMA and closing below it it is a good sell signal, but we are already trading it. #6 first appears MACD crossover, followed by moving averages crossover at this point we close our Short position. Do we open Long position immediately? No, because we are very close to 100 SMA. We need to wait until candle passes and closes above 100 SMA to open a Long trade. Once it happens we are in trading Long. #7 MACD lines has attempted to cross, but nothing to worry as there is no second cross from moving averages. #8 same as #7. #9 time to finally close Long position and go Short.
Divergence on Stochastic can be found the same way as on MACD. The reason for using both MACD and Stochastic is that one of the indicators can show divergence while the other will not at given period of time.
Trading rules: 80 EMA suggests a major trend direction. When the price is traded above 80 EMA uptrend, opposite for downtrend. 21 EMA and 13 EMA give a current trend direction. While 13 EMA stays above 21 EMA uptrend, opposite for downtrend. RSI (21) above 50 mark suggests an uptrend, below downtrend. Entries are made on a cross of 3 and 5 EMA in the direction of a trend: Buy when 3 EMA crosses 5 EMA upward in an uptrend market AND both 3 and 5 EMA cross a channel of 13 and 21 EMA AND RSI is above 50. Entry with Sell order when 3 EMA crosses 5 EMA downward in a downtrend market AND both 3 and 5 EMA cross the 13 and 21 EMA AND RSI is below 50. Note that additional entries are possible when 3 and 5 EMA cross back and then shortly after make a signalling cross again. Note, that when we get the signal to enter we always wait for the current price bar to close and only then (if conditions nave not changed) - open a position.
Exit rules: when 13 EMA crosses 21 EMA back. Keep an eye on 80 EMA, also watch RSI 21 to cross 50 point mark again - both will suggest immediate exits. P.S. For more conservative trading take positions that do not contradict with 80 EMA's trend suggestion.
ADVANCED STRATEGY
At 00:00 (your local time) or rather: according to the time set on your trading platform, with newly formed daily candle find highest and lowest price of the day for the previous daily bar. If the price bar (including shadows) is less than 90 pips long we will not open new trades on the next day. (This is our requirement for GBP/USD pair, it can be changed/adjusted for other currency pairs). If trading can be done, set Buy stop order at the top of the highest price +5 pips and Sell stop order at the bottom -5 pips. Put your stop loss order for a Long entry at the lowest price for the day -3 pips. Put your stop for Short order at the top of the highest price for the day +3 pips.
These additional pips for entries and stops can also be adjusted once a behavior of chosen currency pair is learned over the time. Now, when one of the orders is filled stay in the trade for the whole day. At midnight with the new daily bar open, adjust your orders and stops according with the previous daily bar following the same routine; keep trading position open until get +100 pips, then you may close current position to reward yourself. Rewarding is a very powerful tool, use it. Also close you current position (with either profit or loss) if a daily candle becomes a Doji candle or is almost a Doji. What we mean by almost is that for the true Doji you need open price = close price, while almost Doji can have some distance between open and close (but no more than 10 pips). For example: on May 1st at 00:05 am, we opened a daily chart and it was a downtrend. We set our orders: both Buy and Sell according to the previous candle (April 30th). The same day our Sell order gets filled. The day has passed and the price made some further progress down. At 00:05 am May 2nd with a new daily candle appearing we change our stop loss for our current Short position according to the high of the previous bar (from May 1st) and we either continue to stay in the trade or lock in profits. Also we reset our Buy order which is now going to be just above the highest high of the May 2nd price bar. This system also gives an opportunity to be constantly in trade and at the same time it requires very little observation and takes only 5 minutes to set all positions and forget about Forex till the next midnight. You will see losing trades with this system from time to time it is a part of any trading, but the overall result will be very positive. Lets look at the same chart in more details.
We will number candles starting form 1 so number 1 is a circled candle. 1 st candle (high low = over 90 pips) - allows entries next day. We set orders. 2st candle the price didn't get above or below the 1st candle, no orders filled. Midnight: 2nd candle is over 90 pips long, so we reset orders according to 2nd candles high and low. 3nd buy order filled. Midnight: day ended negatively, but didn't trigger the stop loss, we keep our position open and adjust stop loss below the low of the 3rd candle and minus additional 3 pips. The 3rd candle is also less that 90 pips long and we wouldnt trade the next day except that for now we have already one position running. 4rd went in profit and we rewarded ourselves closing position at the end of the day with just over 100 pips (you can actually set your target lower than that, and use 100 pips as a suggestion). Choosing a profit target for the day becomes easier when you know a daily range average for a particular currency pair. For example, GBP/USD daily range average is 180-200 pips EUR/USD daily range average is 110-120 pips USD/JPY daily range average is 80-90 pips USD/CHF daily range average is 120-130 pips Taking about a half of it can determine your profit targets. 5th no trading as the price didnt exceed previous candle boundaries. Midnight: candle #5 is less than 90 pips, thus we are not setting any orders for the next day. 6th we didnt trade it and for a good reason price managed to get below and above the previous candles high and low, which could mean for us hitting our stops, in worst case - twice. 7th - we had our stop loss below the low of candle 6, this trade is a reward again more than 150 pips, so we lock it... and for a good reason... We will have systems that will be able to easily allow trades running their positions further relatively safe, but for this one it is important to lock your profits the reason is that we move our stop order every day. 8th no trading opportunities. Midnight: candle 8th is less than 90 pips means we are not going to trade next day. 9th - no trading and we were very right about it. Midnight: 9th candle is long enough for us to set targets for the next day. 10th no orders triggered. Midnight: 10th candle is long enough again which allows us to reset our orders. 11th we sold, the day ended in profit, but the profit was relatively small, so we are going to stay in trade. 12th brought us 100 pips at the end of the day and we go out taking profits. Also we reset orders for tomorrow. 13th Long order was triggered and price made some progress during the day, but closed almost at the same level. We stay in and adjust our stops. 14th - our stop loss is hit and moments later buy order is filled. The price closed below our order, we stay in trade. 15th we are almost at breakeven, but nothing to earn, we stay in trade. 16th brings us loss again as our stop loss is hit; a short position is filled soon after and so on...
Advanced system #1-a (Midnight setup addition: Trading Breakouts of the Breakouts)
Current trading method was developed as an addition to original Midnight Setup strategy, but can also be traded alone or in combination with any other Forex strategy. The idea is to filter out some big portion of false breakouts in our case above/below daily candles. Setup: daily charts and 5 min charts, no indicators. Entry rules: Using rules from Midnight Setup strategy we get ready to enter on the break of the daily candle's high or low. However, this time instead of placing Buy/Sell stop orders above/below daily candle, we aren't placing any, but rather waiting for actual breakout to occur. Would be a good idea to set an alert signal on a trading platform that will call us when the first breakout is in place. Immediately after a breakout above/below daily candle on daily charts we go to 5 min charts, where we wait for the price to finish its first advance and start retracing back. Here comes the idea of Trading Breakouts of the Breakouts: On 5 min chart we mark the very first extreme level set by the price (highest high or lowest low depending on the breakout direction) and place Buy Stop or Sell Stop orders +10 pips above/below that extreme. This way our order will be triggered only if the price confirms its directional intentions... Otherwise, it was a false breakout.
Quite often after the breakout on Daily charts, 5 min charts first extreme point reveals the real nature of the breakout. Price may never reach that extreme again, or it can come and make double top/bottom pattern and back up. Not all but many losing trades can be avoided by Trading Breakouts of the Breakouts. Along with advantages, there are some not very critical disadvantages of this method: First of all, we are going to enter a bit later after the initial daily breakout and thus will definitely miss some pips from the starting breakout point. Second, if the breakout is extremely powerful, our 5 min retracement may never come or come way too late. Chances for that are quite small, usually there is always something to spot on 5 min charts, but exceptions may occur. Third, you can't set it once in the morning and forget about it for the rest of the day. You need to be there to spot the first 5 min retracement and set appropriate orders.
Thats it. Stay in trade, resetting Fibonacci with each new wave and moving a stop loss according to the last swings high or low (in simple words, a stop loss will be always just below the Fibonacci 0% line) until it is time to close the position according to our rules. This strategy prevents a lot of bad entries, eliminates early exits and allows staying in trade for a long period of time helping to take everything a current move can offer. Traders may close all good winning positions on Friday evening if they prefer not to hold them over a weekend.
This strategy allows to accurately pin-point good entries with sound money management risks/protective stops are very tight and potential profits are high. Current trading strategy can be improved when it comes to defining the best exits. For example, once in trade traders may also try applying Fibonacci studying to the most recent swings. This way they can predict short-term retracements and make sure they will not be pulled out of the trade early and will continue pursuing profit targets at Fibonacci extension levels.
Our working range includes 5 candles: from midnight to 4:00 am EST (including the 4:00 am candle). Optional: draw a midnight vertical line for visual aid. Within those 5 candles look for a valid swing high and a swing low of the price. Draw an Downtrend trendline connecting a found swing High to the most recent swing High of the previous days. (Make sure the last one is valid High to draw an Downtrend trendline through it). Do the same for the swing Low: connect it to the most recent swing low of the previous days, make sure you are pulling the right trend line using the rules of drawing Uptrend trendlines this time. If a trader sees, for example, no Swings High in the 5-candle range, that means there will be no downtrend trendlines this morning. The Entry is on the break of either one of the trendlines and is immediate without waiting for a current candle to close. A protective stop is placed just above/bellow the candle that broke through the trend line.
Profit target: Usually the whole action is unfolded within the next three candles (count in the candle that had violated the trendline but only if it closed on the other side of the trendline). So, after the actual breakout we have 3 hours or 3 candles to trade, after that we will exit with whatever profits are made. Main rule: Using Pivot points + timing
Profit target is going to be the nearest level of support or resistance according to Pivot point levels. If, however, after only one candle this target is reached, it suggests a very strong market, thus we would stay in trade and set the goal for the next support/resistance level. We would also choose the second Pivot point level of support/resistance as our profit goal if the first Pivot level appears to be too close to our entry point. We have three candles to trade after the breakout, that's why we can trade calm and allow our goal to shift to the next Pivot Point level. It is an absolute traders' discretion of whether to set the target at the nearest Pivot point support/resistance level and leave the trade once the target is hit or using a timing factor exit after the two / maximum three consecutive candles. Tip: running two orders can save lots of nerves. First target - the nearest Pivot point support/resistance level. Second - on the close of the third candle. Another simplified option would be with fixed targets and timing For example, EUR/USD target = 20 pips - spread, GBP/USD = 40 pips minus spread. These are only suggestions, and for other currency pairs = testing will tell... Hold position open for the next three candles. If the target is not reached within those three candle, close all trading positions anyway. That's it. Simple and very effective.
Having chosen the time frame, we are ready to trade the first bounce off of the 20 EMA. We set a limit order close to 20 EMA accordingly: in a downtrend we expect the price to touch 20 EMA from below, then reverse and move down, in an uptrend from above, reverse and move up. Always make sure that at the moment of entry you are using the highest time frame with ADX currently over 30. Only then you can expect the price to obey 20 EMA. That's it. Initial Stop loss order is placed above (when short) / below (long) the 40 EMA. Important note: once in the trade stay with the time frame used for entry. Risks: looking at the charts traders will find that at times the price reverses exactly at 20 EMA, but sometimes it moves even further before making a u-turn. Always be ready to leave some room for the price to make this turn, that's why we suggest using 40 EMA for stops.
Exit rules: Option 1: Use Bollinger Band with settings (18, 2) for all time frames. Set a profit target at the outside band. Move your profit target as the Band expands or narrows. Option 2: For traders familiar with Fibonacci tool, profit target can be set to 1.618 expansion level. AB Swing for Fibonacci should be found from the earlier price moves and the actual point of entry should be considered as point C or a retracement. Option 3: Once the price clearly moves in your favor move the stop below/above (Long/Short trading) the previous price bar. Adjust the stop with each new price bar. Trade until stopped.
Also exit always if ADX goes below 30 on the time frame which was used for entry. Thats it. Test it and see that it works remarkably well. P.S. Accuracy of this strategy is quite difficult to backtest/visualize using historical data. If you decide to do so, make sure you do it right and know what time frame should have been chosen for trading at any given time. The easiest way to analyze current strategy performance is by running it in real time.
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Pair Eur/USD chance 1 no short orders because price is near vegas tunnel Long order was not taken on 1.4267+5=1.4272 because it is not hit Chance 2 No short orders again for same reason Long order was taken on 1.4276+5=1.4281 stopp loss =1.4247-3=1.4244 limit=(1.4281-1.4244)+15=52 pips limit is at 1.4281+52=1.4333 Chance 3 Short order was not taken as 1.4315-5=1.4310 was not hit Long order is taken as 1.4338+5=1.4343 was hit entry: 1.4343 stop loss at 1.4315-3=1.4312 limit= (1.4343-1.4312)+15=46 limit is at : 1.4343+46=1.4389
GOLD - Plot the Pivot first - Check the relationship between the pivot and the opening price - Place Stop Buy 200pips above previous day close and Stop Sell 200pips below Previous day close - Plot the -+200 above and target the next 200pips or next pivot, whichever is lesser - A day where the opening price is at the middle of a pivot and a middle pivot, please dont trade the +200 consider NO TRADE or wait for price to hit middle of pivot or pivot then apply -+200 from that point. - Note and Note, any of such potential trade after you must have made your 200pips, you must always lock profit to 100pips b4 you can let it run.