The strategy forex DOST, trade is conducted on the currency pairs: EURUSD, GBPUSD, GBPJPY, at 5-minute intervals (M5), while analysis was performed on day intervals using forex DOSR mq4 indicator for MT4 trading terminal or independently.
Full name of forex strategy - The Daily Open Support and Resistance Technique, which means "Trade Technique support and resistance, some in daylight opening".
Identify support and resistance levels on the last trading day candle.
Open schedule and go on a daily time frame.
Option 1 - Bullish Candle (the closing price of the candle above the level of the opening of the candles).
Do not pay attention to the daily low and the closing price of the candle.
Maximum day at 0.6733.
Open day at the level of 0.6684.
Provodimgorizontalnuyu line through the high (resistance level 0.6733), and through the opening (on the level of support 0.6684).
Option 2 - Bearish Candle (the closing price of the candle below the opening of the same candles).
Do not pay attention to the daily maximum and the closing price of the candle.
The opening at the level of 1.6276.
At least at the level of 1.6212.
Provodimgorizontalnuyu line through the opening level (at the level of resistance of 1.6276), and through a minimum (at the level of support 1.6212).
Entry and exit from the market of forex strategy DOSR.
The deal to buy:
Open the long trading position as soon as the 5-minute candle crosses and closes above a certain contact resistance.
The deal for the sale:
Open the short trading position as soon as the 5-minute candle crosses and closes below a certain level of support we have.
Safety stop-loss
Closing the trading position as soon as the closing of a 5-minute candle exceeds a certain value of our stop-loss. For example, if your stop-loss insurance for the EURUSD is 20 points, and at the close of the candle breaks this level, then we close the bargain must!
Take profit (profit target):
In the forex strategy DOSR risk reward ratio is 1: 1, that is, if your safety stop-loss is 20 points, and then take profit should be 20 points. If you want to make, for example, in 2 times more, then you need to increase the size of the opening position and a 2-fold. After reaching the first target take profit at 20 pips, move the safety stop-loss to breakeven to let profits run while would be logical to use the trailing stop.
If you are limited in their trade in time - do the following:
Trading Buy position: Set aside an order to buy at a certain resistance to the previous day candle with a stop-loss and take-profit.
Trading position for sale: Set aside an order to sell at a certain level of support for the previous daily candle with a stop-loss orders and take-profit.
Recommended value of stop losses and profit targets for the currency pairs:
EURUSD - 20 points
GBPUSD - 30 points
GBPJPY - 50 points
