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The 30-minute chart is one of the most effective and popular trading strategies, as it not only provides a large number of trading opportunities, but also allows trading almost all the time when the markets are open.
Another indisputable advantage of the 30-minute strategy is the fact that it can largely eliminate risks and protect traders from high losses.
Strategy entry rules (example)
Entering long positions
- Price hits the high of the previous candle
Entry into short positions
- price hits the low of the previous candle
How to trade with the strategy
In the chart above, you can see one whole trading opportunity in which the strategy made a profit of over 36 pips. It all starts when the falling 30-minute candle hits the low of the previous candle (entering a short position). Once the position is opened, a stop-loss is placed at the high of the current candle, so as to prevent any larger losses. Finally, with each next candle opened, the Stop-Loss is moved (red line) to the maximum of the previous candle until it is hit (bold red line) and therefore the trade is closed. Analogically, the reverse is also true for long positions, as in the example on the chart below.
It is possible to achieve a long-term success rate in excess of 60% with the 30-minute mark, and this strategy works best in markets that can produce long and stable trends.
