M5 trading with stochastic and GBP
The British pound is one of the world's leading currencies, not only in terms of history but also today, and it is no wonder that, in the case of Forex, it also contributes significantly to the total daily volume traded here each day.
So there is probably no doubt how important the pound is to the Forex market and it would be a sin not to show at least one strategy that works on GBP/USD, for example.
Strategy entry rules (example)
Entering long positions
- The main stochastic line hits the 5 level
Entry into short positions
- the main stochastic line hits the 95 level
How to trade with the strategy
The basis of today's strategy is the correct setting of the stochastic indicator with the exponential method (see above, however, it can vary considerably within different currency pairs - you should always look for the "optimum" for a given pair). It is then very easy to use, just insert the levels 95 and 5, at which the probability of a reversal of the direction of movement increases considerably, and then wait. Finally, at the moment when the stochastic hits one of these levels, it is sufficient to make an entry in the opposite direction to that in which the hit occurred.
With today's strategy, it is possible to achieve a success rate in excess of 70%, which contributes greatly to long-term sustainability and, in addition, such a high value also gives everyone a great opportunity to achieve a very decent appreciation.