Most Trading Systems will take advantage of either the choppy market or the strong market. This means the most trading systems will perform exceptionally well during either the choppy market or a trending market, but never in both types of market moods.
EURJPY Daily Trading Setup
The last-kiss trade is a nice way to trade high-probability breakout trades. Here are the steps for the last-kiss trade
- Wait for price to consolidate in a box between two zones.
- The box should have at least two touches on both zones.
- Wait for price to break beyond one of the zones.
- Once price returns back to the consolidation box, wait for the market to print a last-kiss candlestick on the edge of the box.
- For sell trades, a sell stop is placed below the low of the last-kiss candlestick,and for buy trades, a buy stop is placed above the high of the last-kiss candlestick.
- Emergency stop loss is placed in the midpoint of the consolidation box.
- The profit target is the nearest zone.
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