Trader Sonskyn’s Live Trading blog
November 15, 2012 in Forex
Just to recap I’m following a strategy based on a daily chart setup. The rules are simple:
- Only Currency Pairs of which one must be in the strong corner and the other in the weak corner….
- Only when my trend indicator confirms that the daily chart is trending up or down may I even look for entries.
- My signals are generated by an Oscillator indicating when the market is overbought or oversold.
Simple and easy, the catch is when you are eager to trade and you are looking at a daily chart the signals can take days to manifest…. So you need to SIT ON YOUR HANDS!
Current trades and their status…
- USDJPY: buy: 14/11/2012 All three my rules where met and the trade is good to me, currently in 45 pips profit. A bit worried when the USD opens what it will do…And it worked out wonderfully!!! Closed this morning with a 120 pip profit!!
Thank you and happy trading!!