What happens if the Gap on Monday morning takes you above /below the 50 of Fridays close? Do you wait for retrace and if it doesnt come then so be it?
TK must be busy because he isnt answering . I am definitely going to make a very nice EA out of this weekly 'Friday Close' system incorporating some features of my own past EA's and easy automated money management.
I am still only aware of the 'original' 50 above 50 below concept, is this still the litmus test for system? I dont seem to be getting any response about long term live trading here.
Going by these calculations, I was just looking at the GBP/USD for last week. It was quite a nightmare until Friday. Am I correct in looking at it and saying that you would have been down -180 pips by the time it finally dropped on Friday, then recovering about 150?