Breaking through the morning flat - which pairs?
there is an indicator for breaking through the morning flat, only it works from 0:00. and I did not understand it about the linear regression channel (can you post a screenshot)
I am stretching a linear regression channel (standard from Metatrader) by time: on usual days from 23 to 06, on Monday from open to 06 GMT
Here is today's EURGBP trade - closed with a profit.
And if you catch a moose, what do you do next? Have you looked at the history?
The best pair for this purpose is pound/bucks
а почему прибыль на уровни 161,8, как насчет 261,8 что бы соотношение ожидаемой прибыли было больше чем ожидаемый уюыток, при распределении сделок 50/50
testing has to be done.
I think different ratios are needed for different pairs.
The ratio of profit to risk for one trade does not mean anything in itself, it is the total expected payoff that is important.
Wrote an indicator, added to the codebase. Automatically looks for consolidation areas for breakdown:
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Hi all.
Trying to trade a breakdown of the morning flat on EURUSD and EURGBP.
From 23 to 06 I am stretching the linear regression channel and setting targets at 161.8 pro Fib. Stop at the opposite end. The question is, are there any other pairs that have interesting narrowing ranges to trade? It is also desirable for the spread to be small, i.e. better without exotics.
Who sets what targets? Who is filtering out false breaks? For example, I do not enter if the channel is wider than 50 pips.