Traders from Singapore and other places like to trade this currency pair due to its volatility. The strategy is used during a day, so it is a daily trading strategy with the short time positions. Recommended time is The Forex trading strategy Big Ben takes into account the closure of one market and opening of another one. Though Forex trading is active around the clock 24 hours a day, a trading day is divided into few trading zones. According to the strategy of Big Ben, we are trying to catch the first daily market movement that occurs during the first few hours after trading opens in Europe.
Impulse movement is important, especially for the British pound GBP , since the closure of the London market stock exchange trading volumes of GBP currency are falling. This is the starting point of this Forex trading strategy.
Conditions for opening a short trade according to the Big Ben trading strategy: Once the European market opens After that, the price goes up, crosses the opening price and the upper limit is forming out.
It must be a minimum of pips higher than the candle opening. You need to sell at the break point when the price is 7 pips or more in the lower level of the formed band. Stop Loss is better to place no higher than 40 pips from the entry point. Then you can watch your open position or use a trailing stop. What is a trading strategy Big Ben based on? Volumes grow significantly during the European session, which allows seeing the demand-supply ratio for this currency pair.
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