Multiple Daily Breakout Strategy (Pending Orders)

This is a new strategy that works good.

the operation is simple. take some pairs and set them to daily timeframe.

we observe the candle of the day before . 2 pending orders are placed at min / max. max will be BUY, min will be SELL. stoploss wil be the range price about the day before.
example. if the day before has built a candle about 50 pips, my stoploss will be 50 PIPS, and the take profit idem! (50). tp must see equal stoploss ever.
after this, we wait if the price will touch 1 of these orders.

you can set this strategy for 4-5 pairs every day, and cancel all pending orders in the evening (and set new orders for the next day).

I using this strategy with good results. important is that the stoploss is at least equal to the TP. this for a good money management and risk-reward.

do not use cross or synthethic, because they hasnt good trends. better pairs majors, like usdjpy eurusd etc...

RULES:

TIMEFRAME 1 DAY

ONLY MAJORS (EURUSD, USDJPY, USDCAD, GBPUSD, AUDUSD)

SET PENDING ORDERS AT MIN/MAX ON THE CANDLE OF DAY BEFORE. BUY AT MAX, SELL AT MIN.

TIME TO SET PENDING ORDERS: MORNING (OR EVENING THAT EXPIRE IN 24H)

STOPLOSS= SAME THE CANDLE

TP= SAME STOPLOSS

DO NOT TRADE LONG CANDLE THAT IMPLY LONG STOPLOSS.

EVERY DAY NEW PENDING ORDER, AT MIN MAX. IF THERE ARE TRADES ALREADY OPEN, DOESNT MATTER, SET NEW PENDING IN ADDITION.

IF THE PRICE NOT TOUCH MIN MAX IN ONE DAY = SIMPLY NO TRADES.

OPTIONAL: IF A TRADE REMAINS OPEN DIFFERENT DAYS, MOVE THE STOPLOSS AND TP ALWAYS TO THE PENULTIMATE CANDLE. (THE ONE OF THE DAY BEFORE). (THIS LAST RULE ISNT SURE).