A very simple trading technique in just few paragraphs. Read till the end to understand it more better. There needs no such indicator, price action or market bias. The only thing you need to select the best time zone which I will guide step by step.
This strategy works almost on very coin and has the same formula. What you have to do is to select Newyork time zone. This is because this time zone has the most volume and the volatility is extreme.
Let suppose I have opened Bitcoin chart. Set time zone to New York. use 4H time frame to mark the first candle of the opening. Mark the upper and lower wick as shown in the picture.
(Check step by step process)
1st Step
2nd Step
3rd Step
4th Step
The next step is you have to go to 5 min time frame and wait for the candles to reach the lower wick or above wick of the 4h time frame.
This is the range zone for the whole day. Whenever the candle reaches the lower wick, open long position set your risk reward ration (1:2). Means book profit two times and the risk ratio must be 1.
Set your stop loss the swing low and set your TP twice of your risk. Whenever you see the price reaching the upper wick range. Open short position and repeat the process. Its very simple and proven strategy. hope will be informative.
I hope you find this post interesting and I hope you enjoy it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
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REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
