80-20 strategy from Street Smarts ; Short NZDUSD
Updated
This is a strategy from the book, 'Streetsmarts' developed by Taylor and adopted by Larry Connors
For sell signals on NZDUSD:
1. Y'days high is signal for short when market opened in bottom 20% daily range and closed in upper 20% range ( Fri)
2. Today the market must trade at least 5-15 pips higher than yesterday's high
3. An entry sell stop is placed at 2 ticks below yesterdays high, with stop above todays high for a lo risk trade ( but low probability = respecting trader's equation that low probability corresponds with low risk trades)
4. trail stop loss as moves into profit, This is a day trade only....
Trade closed: stop reached
no good kept rallying
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.