Market Time

Monday, March 18, 2013

Apply Strategy (ICWR)

This morning, when I woke up Forex market was already open. I look at the graph, it wasn't what I was expected -- the graph was spike up so I could not use ICWR that I prepared from last night.

I put Fibonacci 0.000, 0.250, 0.382, 0.618, 0.750 and 1.000 again at the height point and low point differ at least 40 pips. I found that GBPUSD was match the rule, then I entered the trade at 1.50835. The swing of the fluctuation is quite strong that I couldn't put the stop point at 50 point above the enter point. I put it just above 0.250 line. I think the other difficult thing is the Space is 20 pips.

Posted by at
Labels: , ,

2 comments:

  1. AnonymousJune 28, 2015 at 1:12 PM

    This comment has been removed by the author.

    ReplyDelete
  2. AnonymousJune 28, 2015 at 1:19 PM

    In my opinion the ICWR strategy is best applied to the 4hr/Daily chart combination. There can be significant fluctuations off a daily rsi compared to 5min price action. Even if the daily rsi well above/below the 50%, one small move in an hour or so could be a wipe out on a noisy 5min tf.

    ReplyDelete

Subscribe to: Post Comments (Atom)