Remember what H. Rearden said?
"Now, 2 patterns of market behaviour happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)"
After price makes a new low, I will enter long on a green M1 or M5 candle (within 20 pips of the low) with a 10 pip stop loss. Sooner or later, price reverses and I catch the move. This is simple and I don't get beat by the rat.
dailyhl20pips template attached. You should already have the indicators TRO_PLOT and TRO_DYNAMIC_FIBS_SR_TRAIL.
I really hate seeing fellow traders struggling. KEEP IT SIMPLE.
Sth like AMAZING strategy?
Ok, I have sth for you gays and (one?) girl
1. This is not my strategy.
2. if price make daily high and low wait for broken OR reversal (pin bar or momo like confirmation ? its depentd from you)
3. One trade per day on one pair - no more
4. Look how often its works perfectly (if daily high is broken then price many times will continue this move if dont then price will back to daily low/high)
check it out:
Sorry for my english but i hope you all guys see it