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- Simple break-out strategy for trading daily chart
For an overview of the strategy see under 'Trading systems' 'Long term breakout and trend ...
The market may not always get it right but it is never wrong. If that doesn't make sense then..............................?
Here is an updated chart of my GBP/JPY trade. If price closes above the ema at the end of the day I will close it out. Hoping for a red-day!
Sidefx- any currency pair with reasonably low spreads. I also prefer pairs with average daily price movements above 60 pips So here is the GBP/CHF chart a few days on from my last post. As you can see a candle (the set up candle)has closed below the ...
So yet another artificial 'bubble' is being created. When will they ever learn.
Looking ahead — Just an example of how I set up my charts. I do the same for every pair then switch to candlestick chart and wait for a close on the daily outside of these lines. Very simple, very unexciting. Not much use to adrenalin junkies ...
sidefx I don't really like trailing stops but just my personal preference. If you set them too tight you can get taken out by intraday swings so I prefer the close of a daily candle. Much more meaningful
Will there be losers? Never any losers with this method There will be overheads however. Just like in business you have to lease premises, buy stock, pay for advertising and marketing, pay wages etc etc. In trading, whenever stop loss is hit this is ...
Watching this one. Lets see if it becomes a set-up candle. Patience required.
For an overview of the strategy see under 'Trading systems' 'Long term breakout and trend ...