Interestingly I placed all my trades against the daily 20EMA.
This was because the H1 was strongly against the trend, and the H4 was also against the trend.
EURGBP and GBPJPY were not moving as quickly, so I decided to lock in some profits and moved the SL to the top/bottom of the current wick at the time.
EURUSD I moved the SL to a 150 point profit level.
As it turned out all three of these pairs continued on to hit the original TP levels.
Hi All,
This strategy was a 100% profit day on 28/09/2020 Monday.
But yesterday 29/09/2020 was a Loss day (GBP/USD, GBP/JPY and EUR/GBP were Loss and only EUR/USD was profit, overall Loss).
Did your finding match with mine please?
GBPJPY and GBPUSD both hit SL yes due to market being sideways the whole of London and New York sessions - not much you can do there.
EURUSD and EURGBP however both hit TP of 1.5 RR so it was actually a profitable day still although not by much. The magic of having 1.5 RR trades even if you only win 50% of your trades, you still come out on top
Calculations:
GBPJPY SL hit -1R
GBPUSD SL hit -1R
EURUSD TP hit +1.5R
EURGBP TP hit +1.5R
Overall: +1R
Let me know if you are confused and I can try to explain further.
No, my original post shows 6 pairs: EURGBP, EURUSD, GBPJPY, GBPUSD + 2 other USD pairs but I no longer use them for this strategy due to them being unstable.
Don’t get me wrong, there’s nothing wrong with using EJ for this strategy, it’s the London session and it moves well so no reason not to use if it works.
HI CloudNinee,
I understand most of these.
GU - Buy - hit SL
GJ - Buy - hit SL
EU - Buy - hit TP
EG - I selected SELL - hence hit SL. Is SELL wrong? why? I didn’t use any other input. As per original strategy I saw only Breakout direction at 8AM candle and selected Sell. Is it wrong please?
Hi,
This is my EUR/GBP 8AM Current UK time (7AM GMT) Green Candle today 30/09/20. IG platform. It closed beyond range. Am I doing something wrong? Please help.
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