Monday, February 22
Forex Trading Strategy 2
3 cross previous day low - method 1
The author of this strategy named this as method 1. Similar to 3x21 from strategy 1, the firing point focus on
the crossing of 3, but this time, 3 is required to cross the previous day lowest price as shown in chart above.
As reflected in the chart, the previous day (4 Jan) lowest price was at 1.0779, it reached this point and crossed this mark at around 1300 hrs (1300hrs + 6hrs = 1900hrs Singapore Time) the following day, the entry was confirmed one hour later. We take profit at around 30 pips.
1) H1 chart for crossover and confirmation
2) H4, D1 chart for trend confirmation
3) Moving average line 3 (blue line)