EURSGD, CHFSGD, EURUSD all look very promising but cant trade them. I made some changes to my strategy. I am now looking for unique opportunities that will give me minimal DD.
GBPCAD. This is not a good opportunity, in my view. Price action does not paint a clear picture.
Its hard for me to determine accurately if I can attain a 10% gain by trading GBPCAD. So i will avoid both EURCAD and GBPCAD at the moment
The logic behind it is that no reversal can occur within the first two hours, if it reverses, within those two hours, I would still be able to close at some profit or very minimal loss.
I have been using holding time as an exit strategy instead of having to close the trade when it reaches a given price.
HT doesn't always need to be 2 hours, it can be less than that