GBP/USD
Could take a week to hit, could take a month to hit, what matters most are the conditions before it hits:
1. What time is it? Volume? Volatility?
2. What day is it? Volume? Volatility?
3. Confirmation?
4. If it passes a certain length away from entry, then the analysis is invalidated and is most likely to go in the opposite direction.
At this point, I do not care if my SL gets hit, as this is the LIVE backtesting phase, my risk will be very much controlled. 1-3% risk while my reward can be sometimes 20-30% gains.
Caution: My analysis is entirely subjective, it is based off my experience trading within the market using this strategy. Any attempt to copy my "strategy" will most likely result in you hitting your stop loss. These ideas are not objective, I do not look for any specific set of rules but it all depends on what I see.
Could take a week to hit, could take a month to hit, what matters most are the conditions before it hits:
1. What time is it? Volume? Volatility?
2. What day is it? Volume? Volatility?
3. Confirmation?
4. If it passes a certain length away from entry, then the analysis is invalidated and is most likely to go in the opposite direction.
At this point, I do not care if my SL gets hit, as this is the LIVE backtesting phase, my risk will be very much controlled. 1-3% risk while my reward can be sometimes 20-30% gains.
Caution: My analysis is entirely subjective, it is based off my experience trading within the market using this strategy. Any attempt to copy my "strategy" will most likely result in you hitting your stop loss. These ideas are not objective, I do not look for any specific set of rules but it all depends on what I see.