Specification
// Trading hours //
Opened and closed position must within this time CET (Central Europe Time):
08:00 – 10:30
13:00 – 16:00
// Open of trade //
- Bias – 4H and Daily should both be bear candle to enter short position and the opposite for long position.
- Break of nearest Support/Resistance with close below/above (supp/res on candle body as shown in picture).
- Retest of Support/Resistance in next candle
- Enter trade only if the same candle comes back to the open of current candle after retest.
- Stop loss above wick of current candle
Example of no trade: If break with close and no retest within next candle the trade is invalid.
// Risk management //
- Risk 1 % of account each trade
- Close 50% of trade when in profit the same pips amount as stop loss (1:1 Risk reward). When 50% of position is closed à put stop loss to break even and let the rest run until defined trading hours closes.
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