HIGHEST OPEN / LOWEST OPEN TRADE
Place a line at the highest H1 open and lowest H1 open for the current day.
Sell short at the highest H1 open after price goes up through it and comes back down.
Buy at the lowest H1 open after price goes down through it and comes back up.
Stop loss is the current daily high or current daily low.
Adjust your position size accordingly.
Take profit by moving stop.
When trade is +5 or more, move stop to BE+1.
When trade is +10 or more, move to to BE+5, or switch to trailing stop.
Optional exit is to exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.
Do not wait for the bar to close to enter a trade.
When price breaks through yesterday’s high or low or makes a new high or low today, that is a breakout!
Trade the reversal with caution.
To the NO voters in the poll. Please post the reason you believe this is not simple. Thank you.
“Perfection is not when you have nothing more to add, but when you have nothing more to take away.” – Antoine De Saint Exupery
“It is not about adding on, but taking away. The less technique, the better you are.” – Bruce Lee
Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!