Notes
- In this lecture, Michael introduces a hindsight teaching exercise that allows us to backtest the OTE strategy on a small data set.
- It is recommended to use the 62% retracement level for entries and place a stop-loss five pips above the old high.
- We should note the entry price and how much of a drawdown occurs before the trade moves in our favor.
- All trades should take place during the London and New York Kill Zones.
- We should use 15-minute and 5-minute charts to look for price swings and identify pullbacks that offer optimal trade entries.
- Every trader who has ever succeeded has done some form of backtesting.
EURUSD - Optimal Trade Entry And Dealing Range
EURUSD - Area To Study
EURUSD - Homework
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