This is an adapted version of previous strategies; which I have found to be more effective, particularly with the current situation.
I'm using a wave strategy to find suitable entries. The wave strategy is where I look for change between a downtrend and uptrend. This is indicated in yellow on the chart; using the Fibonacchi tool, I set myself profit and stop loss targets.
In regards to the entry, the entry is only where there is a engulfing candlestick at the inversed apex between a downtrend and a uptrend. Of course I need to look for a confirmation candlestick, hence why I can tell there is a start of a candlestick.
The issue I'm discovering with the current situation is that I'm having to hold onto these trades longer than usual, which is increasing the swap cost.
I'm using a wave strategy to find suitable entries. The wave strategy is where I look for change between a downtrend and uptrend. This is indicated in yellow on the chart; using the Fibonacchi tool, I set myself profit and stop loss targets.
In regards to the entry, the entry is only where there is a engulfing candlestick at the inversed apex between a downtrend and a uptrend. Of course I need to look for a confirmation candlestick, hence why I can tell there is a start of a candlestick.
The issue I'm discovering with the current situation is that I'm having to hold onto these trades longer than usual, which is increasing the swap cost.