This strategy focuses on higher TF's. Primarily Daily and H4; however, can be adapted for LTF's.
- Price crossing trendline and showing a long signal.
- weighted histogram crossing signal line, showing momentum.
- LVN on and a valid extended target from the previous short signal on the trendline.
- Recent confirming the sentiment we hold.
All trades start at a 1:1 RR. Sl is then trailed at trendline once price action crosses initial TP.
At TP cross you CAN partially close the order or simply open up the TP and move trade immediately to breakeven and then start trailing stop one trendline enters profitable territory. This is in an effort to mitigate any loss whilst also maximising profit potential. In my backtesting, a trailed strategy compared to a fixed TP strategy nets an average of +56 pips gain with GBPUSD so it is well worthwhile doing.
Happy trading! :)