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Let's recall the state of the market for EURUSD.
We have on top a weekly level of 1.1180.
Below is the weekly level of 1.0880 and the strong daily level of 1.0885.
This means that we are in the range with the current boundaries of 1.0985 and 1.1180.
Possible tactics: range drawing – buy from declines up to 1.0985 – and sell after rising from points near 1.1180.
Breakout game: buy from 1.1180, sell from 1.0985.
What if you get a few losses?
It is possible to exit their drawdown by increasing the volume of the transaction after receiving a loss.
This tactic – volume growth – is potentially risky, so you need to observe safety precautions, namely:
1. Make the first transaction in a series of transactions with a small volume – so that the risk to the account does not exceed 1%.
2. Determine to what extent it is permissible to increase the volume of the transaction – for example, up to a maximum of 10% loss per transaction of the account size.
3. Determine the coefficient of volume increase – according to the formula K = 1 + SL/TP.
(SL – stop loss in points, TP – take profit in points)
EURUSD: We buy from 1.1045 or 1.1090.
We sell from 1.0985.
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