I trade the Simple 7 strategy on one hour chart. My sl is the first pivot line “three day’s back, including current day” minus 5 pip’s. I then move my sl along with the trend. So my sl is also my tp. Why do I do it that way. Sometimes you have really big moves in my favour, and I don’t want to miss these moves.
That’s how my daily pivot line’s look’s like. If you take a look at last friday moving sl -5 pips gave us a nice profit. My entry is once the next candle crosses the tail of the first candle that closed under/over the 7 ema. I know I still need to adjust entry/exit, but really like the Simple 7 strategy, and will work on it.
Txs for sharing the Simple 7 Strategy