Goal:
To make as many pips the currency allows everyday (its daily range average should be a good goal) using a strategy that produces profits.
Type:
Prediction of what will price do when a certain reports is released.
This is what I did before when I used news to predict where the currency was heading and where it would stop to complete a pattern.
Strategy:
Check for any upcoming fundamentals.
Look for SL to be above / below the previous 4 hr candles.
Using /DX to also predict where the currency pair could be heading (if /DX is at support it may bounce and the currency may do the opposite for example if its the EUR/USD pair)
Ideas:
Find daily support and resistance lines and trade of off these. Go long and short on each or go only with current trend.
Use MA to find which way to trade (trend).
Strategys:
Go short or long on a crossover of a 20 and 50 and SL above the other (if you went short on a down-cross of 20 below the 50 then SL just above the 50 incase it bursts thru it and goes too far up depleting your account) and raise or drop the SL with the respective MA. Once at breakeven then you can use the quicker MA as SL for more profits).
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