I woke up today and found that my short order at 1.3640 didnt get filled! i missed lots of pips today nevermind, next week will be there waiting for me!
I donβt usually trade on Fridays but I did a demo trade on this; short @1.3532 but I had my TS set too tight and was stopped out @ 1.3526, a whole +6 pips. But better than a -6 pips. We shall see what Monday brings, have a nice weekend. d.
edit: do you trade the E/$ because it usually has the tightest spread with MT4 or does this strategy just work better with that pair? With Oanda I can get 3 other pairs that have the same spread as the E/$ - .9 pips if there is no news. I looked at the EUR/GBP but I think its tight range might not work so well.
Nothing interesting for today. IΒ΄ll wait for a pull back a couple of days and then wait the moment to re-enter short
Just wanted to say this is a really powerfull strategy.very well thought out,good strong theory behind it.It is similar to one of the systems I use,I trade off the 1 hour chart, draw the fibs based on the daily charts.The main difference is that i wait for stochastics to cut below the overbought level to enter short and cut above oversold level for going long.I get about 1-2 entries every week risking 2% of my capital and looking to get 1-2 or 1-3 risk reward.