Click above to enlarge
Like I mentioned in my last Monday Trade post, I was going to try this trade again if the opportunity presented itself. Well, what do you know? The opportunity came around again…and I took it.
Being that this was the first time I was taking a Monday Trade later in the week, I was slightly more conservative on this trade, only trading 22 lots instead of the 24 lots I traded on the last trade. I actually ended up closing the trade a little early this time. That is what happens when I am sitting in front of the computer, I get nervous. Especially with a pair as volatile as the GBPCHF.
In spite of that, the result was similar. This one trade made a 5.2% gain in the live account. At least this helps make up for the losing Monday Trade I had last week.
As you can see in the screenshot above, price made a huge run at the daily pivot then bounced about 30 pips. That is why it is necessary to target 20 pips above the actual Weekly Pivot.
This is a very risky strategy (see disclaimer) and you should backtest it, forwards test it and sidewards test it to see if it is for you before ever risking any real money on it.
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