GBPJPY Daily Forex Support and Resistance Strategy

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GBPJPY Daily Forex Support and Resistance Strategy

This system is good in a specific time.

Here are the thing you must do on a 5:00 pm GMT time.

  • Perform Pending Orders 50 pips, 50 pips above the Buy stop ask, Sell Stop 50 pips below the bid
  • Take Profit = 50
  • Stop Loss = 70

At 7:00 pm GMT time:

  • Perform Pending Orders 25 pips, 50 pips above the Buy stop ask, Sell Stop 50 pips below the bid
  • Take Profit = 75
  • Stop Loss = 50

Instructions:

  • Metatrader use only.
  • Adjust lot size
  • Script can only be used in certain limited hours, TP and SL are appropriate formula

For backtesting:

  • To perform backtesting you can open an existing indicator with templates for the setting at 5 and 7 pm.

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4 COMMENTS

  1. can you write an example how to trade
    what do you mean with
    50 pips above the Buy stop ask, Sell Stop 50 pips below the bid
    is it means if the price now

    Ask : 100
    Bid : 98
    the orders will be :
    Buy stop at 100.50
    Sell stop at 97.50 ?

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