Trading EUR/USD Daily Hi & Lo

Nice one, JSS...and the chicken did come home to roost.

Seems the "grail" can come in many styles...as many as you want....

 

Ready for consecutive losses to take place, bring it on! Cheers NiN!

 

-165 pips (-£165)

Now Short 1.3583 £2 per pip
(Reverse order 1.3840 £4 per pip)

 

Hourly chart possible IHS forming, could provide foundation for a bounce to 1.4

 

Reducing range based on last Friday's candle. Reverse order changed to 1.3700. Decision is based on my range/volatility analysis.

 

-117 pips (-£234)

Now Long 1.3700 £4 per pip
(Reverse order 1.3528 £8 per pip)

 

+100 pips required to break even
+200 pips=+2%
+300 pips=+4%

 

-172 pips (-£688)

Now Short 1.3528 £8 per pip
(Reverse order 1.3790 £16 per pip)

135 pips required to break even
185 pips required for +2%
235 pips required for +4%

 

Interesting, kind of a martingale strategy that pushes risk out on the bell curve, but doesn't reduce it. If you could reduce or eliminate risk you'd have the holy grail.

 

Ok, so we got a doji on weekly close, we also have oversold conditions on oscillators + divergences, smells like a 400 pip bounce in the making. Most likely will get stopped on current trade, again, oops