This is the opposite of my reversal post. I wanted to post it separetely to avoid confusing people. Because i found success in both methods, choosing one is enough to be profitable.
Rules
Don't risk more than 5% of your capital per trade. If you have multiple trades, they must not exceed 5% in total risk. Also, i find it not easy to hold more than 4 at a time whether by stacking or different pairs.
Also, if you're new to trading, it is advisable to have risk x 10 of your spread which is equal to or less than 5% and target 1 to 1 or 1 to 2. But never less than your risk your reward should be.
Your risk could be more than the range or less. But the important thing is when to trade. As my previous thread, we focus on the open and close of the sessions.
I reserve to not apply this one news simply because i personally found the reversal works more on news. But that up to you.
Sydney open and close
Tokyo open and close
London open and close
Ny open
These gives you 7 entries a day.
Rules
Unlike my reversal, we use 30 mins as the range.
Example.
Tokyo open
8 to 830 is the range
Where price breaches, you wait for a retest of the entry to .5 then order in the direction of the breach.
Risk at 0, ext at 1, 1.5r, or 2 r.
That's it.
Why not 15m? Because prices usually reverses in this case. So we will focus on the 30m.
Here are 20 trades to show results.
https://www.tradingview.com/x/s1qu2hay
Rules
Plot the floor and ceiling prior to the opening. This will allow you a possible potentional exit and stop loss position. And filter out bad trades.
1st 30 mins is range, from open to the next 3 hours you wait for pierce in one direction then wait for a retest to 50% of the original range. Then go for 1 to 2 r.
Total r for the past 20 trades is 8r
You can of course further complicate it by patterns but the method here is simple break and breach, retest to 50% then go for 2r.
Rules
Don't risk more than 5% of your capital per trade. If you have multiple trades, they must not exceed 5% in total risk. Also, i find it not easy to hold more than 4 at a time whether by stacking or different pairs.
Also, if you're new to trading, it is advisable to have risk x 10 of your spread which is equal to or less than 5% and target 1 to 1 or 1 to 2. But never less than your risk your reward should be.
Your risk could be more than the range or less. But the important thing is when to trade. As my previous thread, we focus on the open and close of the sessions.
I reserve to not apply this one news simply because i personally found the reversal works more on news. But that up to you.
Sydney open and close
Tokyo open and close
London open and close
Ny open
These gives you 7 entries a day.
Rules
Unlike my reversal, we use 30 mins as the range.
Example.
Tokyo open
8 to 830 is the range
Where price breaches, you wait for a retest of the entry to .5 then order in the direction of the breach.
Risk at 0, ext at 1, 1.5r, or 2 r.
That's it.
Why not 15m? Because prices usually reverses in this case. So we will focus on the 30m.
Here are 20 trades to show results.
https://www.tradingview.com/x/s1qu2hay
Rules
Plot the floor and ceiling prior to the opening. This will allow you a possible potentional exit and stop loss position. And filter out bad trades.
1st 30 mins is range, from open to the next 3 hours you wait for pierce in one direction then wait for a retest to 50% of the original range. Then go for 1 to 2 r.
Total r for the past 20 trades is 8r
You can of course further complicate it by patterns but the method here is simple break and breach, retest to 50% then go for 2r.
Trading is gambling. So gamble responsibly.
will try this out