Having looked for a second approach to trading. I'm considering using a Wave strategy. Although this isn't complete (I'm awaiting confirmation by MACD crossover) I feel this will make a good secondary strategy when my primary strategy is not applicable.
I will use Fibonacci to set targets, and my stop loss will be half of the body size of the previous candle; with the following conditions;
.The stop loss will be a minimum size of 10 pips.
.If the body is over 100 pips, this will be divided by 2.
.If the body if over 250 pips, this will be divided by 3.
I will use Fibonacci to set targets, and my stop loss will be half of the body size of the previous candle; with the following conditions;
.The stop loss will be a minimum size of 10 pips.
.If the body is over 100 pips, this will be divided by 2.
.If the body if over 250 pips, this will be divided by 3.