Forex Trading Strategy #30 (T.N.T. Price explosion) more to come...

Submitted by Arsalan, our valued contributor.

Hello everyone,

I want to share one amazing strategy which is actually based only on price and it does not requires any indicator. I call this strategy T.N.T.
I read this strategy on a blog and i thought that i should share it with everyone over here.

Here's the strategy:

1) On a daily bar chart spot a price explosion i.e a + 140 pip day.

2) Next the day the market should move 70 pips in the direction of explosion.

3) If the second condition is fulfilled enter long if price explosion is on upside and enter short if price explosion is on downside but entry should be made only if at the same time the market is 30 pips above or below the high/low of previous day respectively other wise you should wait until the 30 pips condition is fulfilled.One thing which is important is that sometime you will have to enter a trade at more than a 70 pips move because of the 30 pips condition i mentioned above but it should never be more than 100 pips move.

4) Stop loss - 50 pips.

5) Target - 100 pips or 11.30 of the next day, whichever is reached first.