This strategy is called citka which was first adopted by a russian trader but slightly modified ... where you depends on the psychological prices and the same thing you don't place a stop loss point ... my opinion is that in order to use this strategy you need to use small lots with a relatively large capital as at some periods you may encounter a market stability state that the 2 opposite trades are open and the price keep bouncing between them for a long period in addition you will not be able to open new trades on any other pair due to margin requirements so it's important to take into consideration these 2 points

