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A strategy of 10 points, illustrated on the example of the pair EUR/USD

July 23, 2014 9:17 am

The strategy is based on the concept that most of the traders make speculations about the direction of the price movement taking into account the point of breaking down of the highs or lows of the previous day. The majority of traders place pending orders near these highs or lows. Therefore, even in case of lack of support from fundamental data, the price will definitely gain a few points, just by inertia reaching the levels of the pending orders.

Pending orders are placed at the highs or lows of the previous day starting at 00:00 по GMT. Buystop is placed 2 points above the highs, Sellstop shall be placed 2 points below the lows. Take profit is equal to 10 points; stop-loss – 30 points.

If the orders have not been activated, they shall be cancelled and new orders near the highs or lows of the previous day shall be placed.

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