I am interested in placing trades on currency pairs (my favorite is GBP/JPY) that I enter in the evening and place a take profit and stop and let go overnight. My thoughts are to use the APEX Elite system chart but I can’t figure out what size diagnostic bar to use. Maybe I should use the Alchemy template with a different setting than 3/12/60. I would ideally want to check each evening the GBP/JPY, GBP/AUD, AUD/JPY or others and see which one has the best setup and make the overnight trade. Any ideas on what kind of template or system to use to find an overnight trend would be very much appreciated.
It is hard to say what system is best to use to find general overnight trends and set it and let it go overnight. The markets can go up and down throughout the night, especially if news coming out etc. You can play with and back test some different bar sizes to see what system best suits what you are looking for and the time frames / schedule you are looking for, but we do not really do any overnight trend trading that we set and leave it to go overnight. The one trade that we do set and let go longer time overnight would be an Iron Condor and you can even see them on the News Trading Plan Calendar as we recommend certain ones on particular days based on the news that is coming out. Right under the News Plan is a step by step videos showing you how to do Iron condors and how you can set up the Stop trigger as well overnight to help manage the iron Condor
