Alright, let's go with a new 60 second strategy! This is just one I made up on the fly, and I'll call it the 60 Second Follow Through.
Easy as pie, let's look at how it works.
Step 1) Go to www.forexfactory.com and check when high impact news is coming out.
Step 2) Flip your charts to 1 minute time frame.
Step 3) As soon as news comes out, whichever way the first bar goes, 1 second before it closes you enter your follow through trade going in the same direction as the current candle.
Here's an example.
60sec-news.png 33.38KB 251 downloads
What's good about this?
- You know exactly when your trades are, or if you even have any for the day before the day even begins.
- Your only in it for 60 seconds, so of course you don't have to wait very long.
- Following momentum.
What do you guys think?