Hi Everybody,
I was asked a question on a GBPUSD 60min chart and what to do when there is no clear trend on the larger degree chart (240 and 480 min in this case) ?
Well, when the larger degree chart is either flat (as in this case) or the trend is not clear you can play both sides of the market, but be a little more cautious. In other words look to bring your protective stop closer to the market quicker than normal. This usually means the 100% initial risk level.
In this case, the3 latest TS4 sell would have been stopped out for break-even.
Thanks
Steve
I was asked a question on a GBPUSD 60min chart and what to do when there is no clear trend on the larger degree chart (240 and 480 min in this case) ?
Well, when the larger degree chart is either flat (as in this case) or the trend is not clear you can play both sides of the market, but be a little more cautious. In other words look to bring your protective stop closer to the market quicker than normal. This usually means the 100% initial risk level.
In this case, the3 latest TS4 sell would have been stopped out for break-even.
Thanks
Steve
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