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DislikedThe difference of the DOSR is the daily support and resistance will change according to the closing price of yesterday, not the high and the low. This adjusted Open-SR will act as a better entry point than the high and low.Ignored
DislikedHey thanks I forgot to put in my pdf. Will update it accordingly.
My suggested pairs are EUR/USD, GBP/USD and GBP/JPY.
EUR/USD - TP and SL set at around 20 pips.
GBP/USD - 30 pips.
GBP/JPY - 50 pips.
You guys can adjust to your comfort level, so far the TP and SL I'm using is good.Ignored
DislikedSomehow my deep desire to share with traders around the world overcame all possible public negative comments and also prompted me to come here, one of the best forex forums in the world. I believe there are many profitable systems out there, however, it still boils down to our determination and discipline to follow a mechanical system. Here is one of the strategies that I am using now, which is called The Daily Open Support and Resistance Technique, or DOSR in short. This discretionary trading method is very simple and does not rely on any indicators but only the formation of candlestick, which is also the price action.
Attached is a brief description on how this DOSR works.
Feel free to share your comments. Thank you.Ignored
Buy Order
Enter the trade when the 5-minute bar penetrates and close higher than the buy order.
Sell Order
Enter the trade when the 5-minute bar penetrates and close lower than the short order.
Shouldn't it read "Resistance level" instead of "buy order" and "Support level" instead "short order"
Thanks,
Greg
DislikedBuy Order
Enter the trade when the 5-minute bar penetrates and close higher than the buy order.
Sell Order
Enter the trade when the 5-minute bar penetrates and close lower than the short order.
Shouldn't it read "Resistance level" instead of "buy order" and "Support level" instead "short order"
Thanks,
GregIgnored
DislikedThanks for posting the method.
My broker's daily candles open at 4am GMT. Yesterday the GBP/USD entry would have been 1.9500 at the 8:05 GMT open - neither the profit target or stoploss was triggered during the UK/US sessions. When would you exit trades in this instance?Ignored
Dislikedhow many trade u enter per day?the price might break and retrace a few times per day, will you entry at the second penetration?Ignored
DislikedI understand that there is no re-enter if stopped out. If the losing trade was a long, will you enter a short that same day if triggered? Also, could you post the results you have so far? Thanks!Ignored
DislikedSomehow my deep desire to share with traders around the world overcame all possible public negative comments and also prompted me to come here, one of the best forex forums in the world. I believe there are many profitable systems out there, however, it still boils down to our determination and discipline to follow a mechanical system. Here is one of the strategies that I am using now, which is called The Daily Open Support and Resistance Technique, or DOSR in short. This discretionary trading method is very simple and does not rely on any indicators but only the formation of candlestick, which is also the price action.
Attached is a brief description on how this DOSR works.
Feel free to share your comments. Thank you.Ignored