Here are some things to think about for this trade.
in the last 10 trades it has reversed 9 out 10.
The initial spike:
00-10 * 1 Time
11-20 * 4 Times
21-30 * 5 Times
31-++ * 0 Times
The Total move:
00-10 * 0 Times
11-20 * 1 Time
21-30 * 4 Times
31-++ * 5 Times
There were 3 Whipsaws with an average candle of 20 pips
The 9 reversals generally all started after 10 minutes into the trade
and averaged 38 pips from the extreme of the original move.
My strategy... a close entry - 10 pips from price action, with a 15 pip stop and a 15 pip limit. This way if it goes 25-30 I will be ok.
Then I will watch for a reversal and try to market order for another 10 or so.
DC
in the last 10 trades it has reversed 9 out 10.
The initial spike:
00-10 * 1 Time
11-20 * 4 Times
21-30 * 5 Times
31-++ * 0 Times
The Total move:
00-10 * 0 Times
11-20 * 1 Time
21-30 * 4 Times
31-++ * 5 Times
There were 3 Whipsaws with an average candle of 20 pips
The 9 reversals generally all started after 10 minutes into the trade
and averaged 38 pips from the extreme of the original move.
My strategy... a close entry - 10 pips from price action, with a 15 pip stop and a 15 pip limit. This way if it goes 25-30 I will be ok.
Then I will watch for a reversal and try to market order for another 10 or so.
DC
"There is MORE Happiness in giving than receiving"