{"id":4280,"date":"2020-05-29T16:22:16","date_gmt":"2020-05-29T13:22:16","guid":{"rendered":"https:\/\/roboforex.com/blog\/?p=4280"},"modified":"2026-05-26T10:56:07","modified_gmt":"2026-05-26T07:56:07","slug":"sniper-trading-strategy-forex","status":"publish","type":"post","link":"https:\/\/roboforex.com/blog\/blog\/2020\/05\/29\/sniper-trading-strategy-forex\/","title":{"rendered":"Shooting Pips: Trading the Sniper Strategy"},"content":{"rendered":"\n

Today, there are plenty of trading strategies<\/a> and work options for various markets both with indicators<\/a> and without them. The Sniper strategy belongs to the second group: it consists of chart analysis solely, involving no additional indicators<\/a>.<\/p>\n\n\n\n

Opinions differ about using just the price chart for trading. Some think that this type of trading is subjective, and several traders may see different signals<\/a> on the same chart. Moreover, this trading method is hard to back-test, unlike the work of indicators, where you can study all previous signals<\/a> rather easily.<\/p>\n\n\n\n

However, the Sniper remains popular among Internet users, experienced traders and beginners alike. In this overview, we will discuss the peculiarities, advantages, and drawbacks of the strategy.<\/p>\n\n\n\n

<\/span>Description of the Sniper strategy<\/span><\/h2>\n\n\n\n

The strategy is meant for intraday trading<\/a>, which means positions are not transferred to the next day. Also, trades are not opened at the moment of the publication of important economic news. The strategy uses classical instruments of graphic analysis, such as the support and resistance levels<\/a>, range levels<\/a>. The publication of news, in this case, may hinder trading the levels.<\/p>\n\n\n\n

\"GBP\/USD<\/a>
GBP\/USD<\/a> price chart - Sniper strategy<\/figcaption><\/figure>\n\n\n\n

The idea is to open positions in the direction of the breakaway of the channel that was formed at night - using horizontal levels. As a rule, at night, volatility<\/a> drops significantly, and flats form, squeezed between strict levels.<\/p>\n\n\n\n

A large advantage of the strategy is the opportunity to add new positions in the direction of the prevailing impulse to the existing ones. So, if we missed the moment to open a trade, this is okay, a signal for a new position may as well form during the day.<\/p>\n\n\n\n

\"NZD\/USD<\/a>
NZD\/USD<\/a> price chart - Sniper strategy<\/figcaption><\/figure>\n\n\n\n
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<\/span>Characteristics of the Sniper strategy<\/span><\/h2>\n\n\n\n

You may use any instrument or timeframe<\/a> with this strategy. It was initially meant for GBP\/USD<\/a> due to the high volatility of the pair, however, it shows good results with other pairs.<\/p>\n\n\n\n

As a rule, you enter the market on M1-M5 and define the overall trend on H1 or a longer timeframe<\/a>. So, to work with the Sniper, you need:<\/p>\n\n\n\n