Hi guys,
I will share with you today a quiet and simple method which you can trade every day of the week with minimal time and effort.
At 0000 GMT every day pull up the D1 chart for the following pairs:
U/J, G/U, E/U, U/C, E/G
You are looking for a divergent candle from the recent close. My definition of a divergent candle:
Bullish Divergent Candle: Makes a lower low than the previous 5 candles but finishes in the green.
Bearish Divergent Candle: Makes a higher high than the previous 5 candles but finishes in the red.
On a bullish divergent candle, place two longs at the 0000 GMT open price with SL at the candle low - 5 pip buffer. TP1 at the same amount of pips as your SL and let the other long run until you get an opposite daily candle (i.e. short signal). If the next signal you get for that pair is a long, then move the SL up to the SL for the new position.
On bearish divergent candle place two sells at the 0000 GMT open price with SL at the candle high + 5 pip buffer. TP1 at the same amount of pips as your SL and let the other short run until you get an opposite daily candle (i.e. long signal). If the next signal you get for that pair is a short, then move the SL down to the SL for the new position.
The whole process should take less than thirty minutes each day, and across those five pairs you should get at least one signal a week.
This system will work very well if you use good MM and allows you to trade every signal without worrying about missing any. If you aren't awake for 0000GMT you can usually catch a retrace somewhere into the previous candle and take an even better position (less risk).
NB: You do not have to exit the position when you get an opposite signal, once the trade is free it can be very interesting to see what happens when you let the trades run. I have posted an example chart below, you can see the last buy signal would have netted something like 500 pips if you had let it run, but if you had exited the position on the opposite signal you would have got BE on long and short.
Good luck. I will start posting live trades for this method from the first 0000 GMT of next week.
Please note in the charts I post here
D1 candle consists of the 24H from 0000GMT.
I will share with you today a quiet and simple method which you can trade every day of the week with minimal time and effort.
At 0000 GMT every day pull up the D1 chart for the following pairs:
U/J, G/U, E/U, U/C, E/G
You are looking for a divergent candle from the recent close. My definition of a divergent candle:
Bullish Divergent Candle: Makes a lower low than the previous 5 candles but finishes in the green.
Bearish Divergent Candle: Makes a higher high than the previous 5 candles but finishes in the red.
On a bullish divergent candle, place two longs at the 0000 GMT open price with SL at the candle low - 5 pip buffer. TP1 at the same amount of pips as your SL and let the other long run until you get an opposite daily candle (i.e. short signal). If the next signal you get for that pair is a long, then move the SL up to the SL for the new position.
On bearish divergent candle place two sells at the 0000 GMT open price with SL at the candle high + 5 pip buffer. TP1 at the same amount of pips as your SL and let the other short run until you get an opposite daily candle (i.e. long signal). If the next signal you get for that pair is a short, then move the SL down to the SL for the new position.
The whole process should take less than thirty minutes each day, and across those five pairs you should get at least one signal a week.
This system will work very well if you use good MM and allows you to trade every signal without worrying about missing any. If you aren't awake for 0000GMT you can usually catch a retrace somewhere into the previous candle and take an even better position (less risk).
NB: You do not have to exit the position when you get an opposite signal, once the trade is free it can be very interesting to see what happens when you let the trades run. I have posted an example chart below, you can see the last buy signal would have netted something like 500 pips if you had let it run, but if you had exited the position on the opposite signal you would have got BE on long and short.
Good luck. I will start posting live trades for this method from the first 0000 GMT of next week.
Please note in the charts I post here
D1 candle consists of the 24H from 0000GMT.