The following is the USDJPY hourly chart as of Feb. 13, 2010, around 1 PM. If you observe the chart you can see that it is going in a channel. The channel might be broken at any time and once the channel is broken with a strong candlestick its a good opportunity to enter the trade. what do you guys say?
Check the following picture.
USDJPY moving in channel
The strategy is very simple and works very well. You can find a lot of trading opportunities using this strategy. This strategy involves only parabolic SAR indicator with default settings. Indicators: Parabolic SAR with default settings (Step: 0.02, Maximum: 0.2) Time Frame: Hourly But you need to observe the parabolic SAR on the higher time frame of daily chart. Markets Sessions … [Read More...]
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