"7: Key numbers: Do not get long on a trade above the last two numbers above 85 through 15 or short with the last two below 15 through 85. The whole numbers often time create great resistance and the market typically reaches them and turns around a couple of time before actually breaking through the whole numbers. The closer that the last two numbers are to being 50 the better off you will be with your trade. "
I don't understand what the author means by key numbers?
Anybody want to elaborate on that?
But, don't you think they are dangerous -Risky? Specially point 6?
85 through 15 = Price 0.0085 - 0.0015 and0.0015 -0.0085
Specially point 6 ???????
tradesignal2 = 0;
If Jpypair == 0 then
val2 = (Close - (Floor(Close*100) /100))*10000
val2 = (Close - Floor(Close))*100;
If val2 >= 15 and val2 <= 85 then tradesignal2 = 1;
Sorry Alex...I still don't get it.
Maybe you could explain with for example the price of the eur/usd?
Not go long if?
Not go short if?
I meant this point:
You are right. Risky. Especialy if we are trading using EA.
There are a lot of trading strategies to trade inside the channel, outside, open buy stop and sell stop at 13:30 GMT, and so on.
It may be ok to trade manually but mechanically ... I do not know.
Sada, I think it means for example:
Do not go long if price is 1.1785 through 1.1799 (because there will be resistance at the "round" number -- 1.1800, and it might retrace back down)
Do not go short if price is 1.1715 through 1.1701 (because there will be support at the "round" number -- 1.1700, and it might retrace back up)
But I could be wrong!
Alex, do you have an EA which trade automatically?
(seemed so to your code)