After spending a good 8 months of screen time watching price action and tick volume on a couple of pairs and after several stops and starts and losing some money in between, I now have an FX trading plan in place.
It's ironic that after all that screen time testing various methods simple s/r, hh's, hl's, pullbacks etc combined with good trade management is what works best.
So, entry set ups (and exits) are based around s/r levels, pivot high lows with simple candlestick patterns and tick volume for triggers. Entry typically off 3min bars, sometimes 5 min and even 1 minute.
Trade management: stops generally 10 pips away, move to b/e or exit within 3 - 5 bars or less. If +10 pips move to b/e. Partial exit at 20 pips or at s/r or pivot levels. Ride remainder to next s/r level or watch price action + tick volume for exit.
My number one trade management rule is not to let the market stop me out by hitting my islp!
My goal is to average 100 pips per week.
Also only trading 1 full contract as I want to get a few hundred trades completed before I trade my full account.
Note. number of trades are actually half because I exit in half lots. Also note results are for 10 trading sessions. Also missed plenty of big moves