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Joined Mar 2007
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Status: XXXX Trader
|318 Posts
Very interesting thread, i have been forward testing a strategy very similar to this, but varied as follows:
1. High and low is only one hour, that being 3pm-4pm Sydney, Australia time. I won't say what that is in other time zones because its fairly important to get it right.
2. If it breaks high, then enter long 1 pip above high. Vice versa for short obviously.
3. Target 10 pips. But if target not reached, S&R other side of range.
Example.
High = 2.0334
Low = 2.0325
Breaks high, buy @ 2.0335, target at 2.0345
S&R short @ 2.0324, BUT with a bigger lot size, so that when you get to 2.0314, you have made the same amount of money as your original long would've made, its slightly martingale, but due to the market at this time this is kept to a minimum because London markets are opening and volatility is almost certain.
The idea of my variation on this is to always have the TP as 10 pips either side of the range. Its working well for me.
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Joined Mar 2007
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Status: XXXX Trader
|318 Posts
I may be overstepping the mark here and slightly high-jacking this thread, if thats the case and the moderators want a new thread out of this, i'll happily comply, i was going to start one anyways. Up to the big guys upstairs...
Very interesting thread, i have been forward testing a strategy very similar to this, but varied as follows:
1. High and low is only one hour, that being 3pm-4pm Sydney, Australia time. I won't say what that is in other time zones because its fairly important to get it right.
2. If it breaks high, then enter long 1 pip above high. Vice versa for short obviously.
3. Target 10 pips. But if target not reached, S&R other side of range.
Example.
High = 2.0334
Low = 2.0325
Breaks high, buy @ 2.0335, target at 2.0345
S&R short @ 2.0324, BUT with a bigger lot size, so that when you get to 2.0314, you have made the same amount of money as your original long would've made, its slightly martingale, but due to the market at this time this is kept to a minimum because London markets are opening and volatility is almost certain.
The idea of my variation on this is to always have the TP as 10 pips either side of the range. Its working well for me.
Ignored
What pairs are you considering? Or just the cable only?
Good job eagle
could any one help me with the timming in EST?
and we get the high and low for the candles from 5:00 to 8:00 so the high and low of 8:00 candle included or not?
