This is a brief summary of yesterday strategy. Please be reminded that you have to do enough backtesting before using the strategy.
Indicators:
Fisher’s transform MTF
Zigzag
Timeframe:
Xau M5 US session
Strategy:
1. During US session, follow the trend direction using Fisher indicator
2. Find the Support & Resistance level (e.g. the candle with long shadow) using the zigzag indicator, set buy stop / sell stop
3. Is the trend strong or weak? Strong trend: TP 450 SL250 Weak trend TP 250 SL 250
4.
If SL is hit, we will have
order B (may be in different lot size) to trade in the opposite direction using
another S&R level We use order B to
at least recover the loss in the first order.
(Lot size recommendation: 0.3 to 0.5 lot for a 10,000 USD account)
