USD/JPY VyNNeR's Strategy No Charts Need
Dear everyone,
I've been looking through most of the strategies on this forum and I thought it was time to post one of my strategies for joining the club.
This is a very simple strategy, you don't need any charting software, and works best with USD/JPY.
Most traders, myself included, like to trade based on trends, but I think many overlook the fact that we can catch more reliable points on pullbacks.
Try this:-
1) USD/JPY 5-day highs and lows
2) If the current price on day 6 is above all 5-day highs, go short 30 pips below the highs to confirm the retracement. Take profit of 12 pips and place stop loss above the day's high.
3) If the current price on day 6 is below all 5-day lows, go long 30 pips above the lows to confirm the retracement. Take profit 12 pips and place stop loss below the day's low.
All feedback and questions welcome just share something.
Venier
I've been looking through most of the strategies on this forum and I thought it was time to post one of my strategies for joining the club.
This is a very simple strategy, you don't need any charting software, and works best with USD/JPY.
Most traders, myself included, like to trade based on trends, but I think many overlook the fact that we can catch more reliable points on pullbacks.
Try this:-
1) USD/JPY 5-day highs and lows
2) If the current price on day 6 is above all 5-day highs, go short 30 pips below the highs to confirm the retracement. Take profit of 12 pips and place stop loss above the day's high.
3) If the current price on day 6 is below all 5-day lows, go long 30 pips above the lows to confirm the retracement. Take profit 12 pips and place stop loss below the day's low.
All feedback and questions welcome just share something.
Venier
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