Mongolian can i ask:
1)what spread you're paying for EU? Do you think this strategy would work for spread a little above 2 pips say 2.4 pips? Reason i ask is because sl becames very small only 3.6 pips to stop out
2)Do u always wait for a retrace before entering?
3)Is ur 12 pip tp and 6 pip sl placed along with ur limit/stop entry order? Or do you exit with market orders?
4) in the chart below from point 7 to point 8 ie from 1.4875 to 1.4863 you had a 12 pip down move and then once again from point 8 to point 9 ie from 1.4862 to 1.4850 you had another 12 pip down move. So two consecutive down moves means ur looking to go short right?
So once price went below 1.4850 wouldnt you have gone short on the retrace which I've marked on the chart and then been stopped out on that trade?
and if you had done this and been stopped out would you have gone short again at point 9 and why?
many thx
1)what spread you're paying for EU? Do you think this strategy would work for spread a little above 2 pips say 2.4 pips? Reason i ask is because sl becames very small only 3.6 pips to stop out
2)Do u always wait for a retrace before entering?
3)Is ur 12 pip tp and 6 pip sl placed along with ur limit/stop entry order? Or do you exit with market orders?
4) in the chart below from point 7 to point 8 ie from 1.4875 to 1.4863 you had a 12 pip down move and then once again from point 8 to point 9 ie from 1.4862 to 1.4850 you had another 12 pip down move. So two consecutive down moves means ur looking to go short right?
So once price went below 1.4850 wouldnt you have gone short on the retrace which I've marked on the chart and then been stopped out on that trade?
and if you had done this and been stopped out would you have gone short again at point 9 and why?
many thx