Hello All,
I would like to share a simple S&R system ive been using successfully on gold for the last year. The rules are very simple to follow and it generates very good RR ratios and great win rates. We use a simple supply and demand indicator called shved supply indicator but you can use any support and resistance indicator you have on any platform.
The rules are simple.
1. Trade when price bounces off any M15 level and aim for the opposing level or between 2 and 3 RR whichever you're comfortable with.
2. Price always takes out equal highs /lows on the M5 formed in the asian and london sessions once the US session starts. These are called low hanging fruits.
3. Always beware of red USD news usually at 8:30am ET. The news is usually used to take out the M15 levels.
4. Always take trades in line with the daily candle. I only start trading at 8:00am ET time so am always watching the daily candle that has already formed in the day.
I'll share more charts in the coming days.
Attachment g
I would like to share a simple S&R system ive been using successfully on gold for the last year. The rules are very simple to follow and it generates very good RR ratios and great win rates. We use a simple supply and demand indicator called shved supply indicator but you can use any support and resistance indicator you have on any platform.
The rules are simple.
1. Trade when price bounces off any M15 level and aim for the opposing level or between 2 and 3 RR whichever you're comfortable with.
2. Price always takes out equal highs /lows on the M5 formed in the asian and london sessions once the US session starts. These are called low hanging fruits.
3. Always beware of red USD news usually at 8:30am ET. The news is usually used to take out the M15 levels.
4. Always take trades in line with the daily candle. I only start trading at 8:00am ET time so am always watching the daily candle that has already formed in the day.
I'll share more charts in the coming days.
Attachment g
