This thread, and the attached explorer, aims to test the strategy of (a) closing the gap shown at the 22:00 open (UK time) and (b) fading the spike where it hits a major support such as a daily pivot.
Here are the rules for each strategy:
A. Close the gap: On Sunday evening, at 22:00 UK time, if there is a gap where price has jumped, then trade to close the gap. This can only be done once a week on Sunday evening.
B. Bounce off the daily pivot: On a non-news day, if price goes against the trend and touches the daily pivot, then trade in the direction of the trend as price bounces off the pivot line. This usually happens at 09:00 UK time.
Here is an example to get the ball rolling. The attached charts show GBP/USD bouncing off the daily pivot at 08:00. All other pairs show a reversal that follows the main trend (on the 30 M chart) at 09:00.
Here are the rules for each strategy:
A. Close the gap: On Sunday evening, at 22:00 UK time, if there is a gap where price has jumped, then trade to close the gap. This can only be done once a week on Sunday evening.
B. Bounce off the daily pivot: On a non-news day, if price goes against the trend and touches the daily pivot, then trade in the direction of the trend as price bounces off the pivot line. This usually happens at 09:00 UK time.
Here is an example to get the ball rolling. The attached charts show GBP/USD bouncing off the daily pivot at 08:00. All other pairs show a reversal that follows the main trend (on the 30 M chart) at 09:00.
Tellboy