The strategy is so simple that I even don't know if it could be called a trading system.
We will trade following daily support and resistance.
EURGBP "respects" very very often the support and resistance of previous day from 9 to 00:00 gmt.
Our RESISTANCE will be the highest close or open and our RESISTANCE will be our lowest close or open from 9 to 0:00 gmt.
Each time the pair crosses the daily support or resistance we will be ready to enter the market as soon as it comes back to it.
Pair breaks SUPPORT: Enter SHORT when it comes back
Pair breaks RESISTANCE: Enter LONG when it comes back
See bellow a recent example of resistance break out:
Resistance previous day highest close is 0.8016. As the price breaks it on 0.816 we SELL at market price as soon as it comes back under 0.8016.
If you do not know what is support and resistance click HERE.
We will trade following daily support and resistance.
EURGBP "respects" very very often the support and resistance of previous day from 9 to 00:00 gmt.
Our RESISTANCE will be the highest close or open and our RESISTANCE will be our lowest close or open from 9 to 0:00 gmt.
Each time the pair crosses the daily support or resistance we will be ready to enter the market as soon as it comes back to it.
Pair breaks SUPPORT: Enter SHORT when it comes back
Pair breaks RESISTANCE: Enter LONG when it comes back
See bellow a recent example of resistance break out:
Resistance previous day highest close is 0.8016. As the price breaks it on 0.816 we SELL at market price as soon as it comes back under 0.8016.
If you do not know what is support and resistance click HERE.