4 Step 50 Pips a Day Forex Strategy. Course Content Explained: Fibonacci Retracement Levels, Daily Pivot Points, Trading an Uptrend, Trading a Downtrend, 50 Pips Take Profit, 25 Pips Stop Loss.
Step 1: Identify an Uptrend or Downtrend on the Previous Day.
Step 2: Identify a Retracement to the Daily Pivot at or around the London Open (8am London Time)
Step 3: Make Sure Your Daily Pivot is within the .382 and the .618 Fibonacci Retracement Levels.
Step 4: Optimize Your Entry (50 Pips Take Profit, 25 Pips Stop Loss, 2 to 1 Reward to Risk Ratio)