Recommended timeframe - m15
This technique applies specifically to the GBP/JPY currency pair.
This approach is centered on trading at night using pending orders. As a result, this technique does not need much of a trader's attention. You will need to know the conclusion time of the American session and the start time of the Asian session. Use the time specified on your trading terminal. In the example below, the terminal displays the company's server time: GTM+2. In this situation, the American session will close at 23:00, while the Asian session will open at 2:00 terminal time. To make an order, we must first draw a rectangle with horizontal lines representing the highs and lows of the limited time period, and vertical lines representing 23:00 and 02:00.
Once the rectangle is formed, it is required to place a pending order. Sell Stop 2 points below the lows, with a pending Buy Stop 2 points above the highs. Each order's stop loss will be at the distance of the flat, which corresponds to the opening price of the opposite pending order. Take profit should be set two times the distance from the stop-loss. Thus, we will follow the norms of money management.
Once the rectangle is formed, it is required to place a pending order. Sell Stop 2 points below the lows, with a pending Buy Stop 2 points above the highs. Each order's stop loss will be at the distance of the flat, which corresponds to the opening price of the opposite pending order. Take profit should be set two times the distance from the stop-loss. Thus, we will follow the norms of money management.
After setting orders and making a profit, it is recommended to place at least 10-15 points of stop-loss in the breakeven zone.
Following the activation of one of the orders, the second order must be deleted.
If the flat's range exceeds 70 points, it is best not to trade on this day; also, it is advised not to trade if neither of the orders has been activated within 4 hours of setting the orders.
If a transaction was not concluded with a stop-loss or take-profit order prior to the start of the American session, it should be closed at the current price.
Following the activation of one of the orders, the second order must be deleted.
If the flat's range exceeds 70 points, it is best not to trade on this day; also, it is advised not to trade if neither of the orders has been activated within 4 hours of setting the orders.
If a transaction was not concluded with a stop-loss or take-profit order prior to the start of the American session, it should be closed at the current price.
