Forex Strategy for USDCHF is very simple and to trade on it, you will need to do some image building, namely:
Trading start at 5 pm GMT — open the M15 (fifteen-minute) chart of the currency pair USDCHF (or EURGBP) and set the horizontal lines through the levels, which end on 00 and 50 (respectively 000 and 500 for a five-digit brokers with quotes such as Alpari), which are closer to the price (1 above and 1 below the current price).
If the price range is on one level, 50 or 00 (- 5-10 points), then the basis of a this level, as the level above the price «and» below the price level «and set the lines above and below the price is not necessary (but it happens not so often).
Once levels are set, we expose the pending orders are up 25 points from the top level and -25 points on the lower level.
Example see in the picture:
Stop-loss — 50 points. For safety, you can use a trailing stop.
Take-profit — 25 points.
Orders that were not open during the day — are removed and installed new ones.
Template for «forex strategy for USDCHF » for Metatrader 4 does not spread, because its just not …
Report on Trade Advisor Forex Morning Levels:
- Download: Report of the expert advisor Morning Levels from January to November 2009 — A currency pair EURGBP M15!!!
