My trading strategy is based on the WPR, a technical indicator that
uses 0 to -100 as its value to identify market conditions. When the
market moves above -20 towards 0, it indicates that the market is
overbought, while a move below -80 towards -100 indicates that the
market is oversold.
To use this strategy, I primarily trade on the GBPUSD currency pair,
looking for opportunities to enter a buy position when the market
moves above -80 towards 0 and enter a sell position when the market
moves below -20 towards 100. I typically use a lookback period of one
hour to identify potential trades.
For my take profit levels, I use a tiered approach with potential
targets at 10, 20, 35, 45, and 55 pips. I also use a stop loss of 10,
20, 30, 45, 55 pips to help manage risk and minimize potential
losses.
Overall, my WPR strategy with momentum indicators has helped me
identify profitable trades and minimize risk in the forex market. If
you're looking for a reliable trading strategy, give it a try and see
the results for yourself.