If you trade in Marketiva like me, this is how to set the High and Low for the breakout. It is just about the time but it can be confusing. So, for Marketiva you should find the High and Low between 11.00 pm until the last candle for the day which is 03.59 am. Only after the last candle then we can set the order.
You can see the picture below. Target profit and stop loss depends on you or the pair. I like to target 50 pips and my stop loss is the opposite signal, if long then my stop loss is the Low between 11.00 pm and 03.59 am.
You can see the picture below. Target profit and stop loss depends on you or the pair. I like to target 50 pips and my stop loss is the opposite signal, if long then my stop loss is the Low between 11.00 pm and 03.59 am.
The range between those time for each day is quite big for the GBP/JPY, so the risk-reward ratio is about 3:1. The picture above is the signal for today. 'Low' is at 197.39 and 'high' at 200.53, the range is about 300 pips! Meaning that if it was a false signal, I lose 300 pips!! In this case the signal was good. The pair reached 50 pips above and below. So it is up to you whether you want to use the signal in this range.You can try it for any pair but I recommend GBP/JPY only, for 50 pips target. Oh I forgot, trade with your own risk okay. And happy trading..:)
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2 comments:
Streamster is good plarform for trading. it's smart, gorgeous and powerful. it provide us many indicators. Streamster also have online chat and support feature. we can talk with other trader online, if we have any problem need help, easy to find supports also.
Yes.. I like that it's easy to find support. In many language also.
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