In the meantime, I will try with very small lots the following strategy, partially borrowed from Lance Beggs:
- using 1-pip range bars on EU, AU, UJ
- using 21-SMA based on range bar close
- entry just like for my power level trading: peding stop order 1 pip away with 2-pip stop, placed by a script when price pulls back to 21-SMA and hesitates to move further
- target 8-13 pips
- use 5-pip trail stop
- break even at 2 pips profit
Basically we simply trade pull backs to 21 SMA while market is trending. I will trade this with 1 mini lot for few days before going for 1 full lot. If market will start respecting power levels again, I will trade both methods.
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