Merlin Breakout Strategy:
Yesterday didn't yield a traceable result, although it gave me a short bias. However, the HI/LO defined the close day range of prices until New York session.
Tonight, 10PM-12AM GMT
HI - 1.30706
LO - 1.30458
Tonight I will apply a 20 pip buffer either side of the HI LO.
If price > 70.6 but < 90.6 look to SHORT but if > 45.8 look to long
If price < 45.8 but > 25.8 look to LONG but if < 25 look to short
Trigger only on or after 7am.
If new hi or low created at Asian session, then flat.
EDIT:
After further analysis, 3098 will be a key price in Tomorrow's session. This is the previous day's mid.
Yesterday didn't yield a traceable result, although it gave me a short bias. However, the HI/LO defined the close day range of prices until New York session.
Tonight, 10PM-12AM GMT
HI - 1.30706
LO - 1.30458
Tonight I will apply a 20 pip buffer either side of the HI LO.
If price > 70.6 but < 90.6 look to SHORT but if > 45.8 look to long
If price < 45.8 but > 25.8 look to LONG but if < 25 look to short
Trigger only on or after 7am.
If new hi or low created at Asian session, then flat.
EDIT:
After further analysis, 3098 will be a key price in Tomorrow's session. This is the previous day's mid.
A pip is only worth it if you know how much you risked to earn it