I have been forward testing this strategy and so far so good.
To find out the background of the strategy, check previous post here:
Disclaimer: This is for educational purposes only. I am not liable for losses or profits incurred.
Get to your charts 1-2 hours before the Australian session starts.
(If you don’t know what this means,. you shouldn’t be trading live money)
1. Check the daily renko direction and confirm the stop loss level.
2. Check the daily swing high level and confirm the CIW and TMA extreme area to see if they confirm a swing reversal trade against the renko direction or a trend trade in the original renko direction.
3. Check the 1 hour line area price behaviour to confirm divergence between the EURO assets if you wish to take a trend trade in the original renko direction or convergence between the EURO assets if you wish to take a swing reversal trade against the renko direction.
Stop losses should never exceed 30-50 pips. You can net 100 pips weekly and 300 pips monthly using this strategy. And with such tight stops and a high win rate, you can use a lot size of 0.1 for every $1,000.
This strategy is excellent for part time traders and since it is for trading the EURUSD, it is relatively safe. Do let me know if it works for you.