Breakout or reversal

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poltergeist
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Breakout or reversal

Postby poltergeist » Sun Mar 07, 2010 9:36 pm

Hi!

I've read the most important topics here and I have a problem.
I think that the best strategy for me are Sydney, Tokyo session.
I would like to left pending order at about 22-23 GMT and go sleep or at 6 am GMT and go to work.
set up depends on support/resistance.
and here it is the question what would be better - breakout during these sessions or reversals at support/resistance?
The best TFs for me are H1, H4.

Sometimes 2% capital SL (I assume about 40 pips) would be not enough at these TF.

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tmanbone
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Postby tmanbone » Sun Mar 07, 2010 11:43 pm

http://www.amazon.com/Forex-Patterns-Pr ... 738&sr=1-1

Ed Ponsi teaches a nice little strategy during the quite hours, good for a fairly consistant 15 pips daily. I've figured out being in your situation that trading the higher time frame trends are more suitable for me.
"The simplicity of the markets is it's greatest disguise"

T

poltergeist
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Postby poltergeist » Mon Mar 08, 2010 4:34 pm

Thanks, I shall check this out. Looks interesting.
I think some statistical backtesting how the price behaves in comparison to the previous session would be helpful.
Or maybe anybody made this kind of research? If not, I'll have to do some :)

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trader.dan
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Postby trader.dan » Tue May 08, 2012 10:33 am

I trade on European session only. TA work better and volatility is not so high, my SLs stay safe.

Redkit
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Re: Breakout or reversal

Postby Redkit » Fri May 25, 2012 5:07 pm

poltergeist wrote:Hi!

I've read the most important topics here and I have a problem.
I think that the best strategy for me are Sydney, Tokyo session.
I would like to left pending order at about 22-23 GMT and go sleep or at 6 am GMT and go to work.
set up depends on support/resistance.
and here it is the question what would be better - breakout during these sessions or reversals at support/resistance?
The best TFs for me are H1, H4.

Sometimes 2% capital SL (I assume about 40 pips) would be not enough at these TF.


Reversals work better on Asian session, significant breakouts arise on US session often

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