Trade Euro Yen at London Open on 5 Minute Chart
Again, the strategy I use is very simple. Williams’ Percent Range. When it dips below -70, sell; breaks above -30, buy. Wait till the next candle to confirm that previous candle closes either above or below the threshold. I normally enter a limit order and wait for 50% retracement. I leave the order pending for about 15 minutes. If it’s not filled, then I cancel it and no trade. I set the take profit target at 20 pips. Stop loss depends on the change of trend. Trailing stops is 10 pips. I also don’t trade every signal.

