It's this Easy

jungles

Guest
614 67
Apply the indi attached, to a 60M chart, using these settings: 240, 60, 0, 0, false.

Scan 60M charts looking for those pairs where price is clearly away from the SMA and the SMA is sloping (up when buying, down when shorting).

If price is > SMA, only buy; if price is < SMA, only short.

Using 240M draw up horizontal support/resistance; I use price pivots to do this.

Ensure 60M price action supports the direction of your trade.

Apply 1:1 risk:reward.

Place SL above/below price pivot (~10 pips).

TP above/below support/resistance (~10pips).

The guideline above is straightforward……..however, skill is required to interpret price action and mark up support/resistance.

An example below.

Good luck, now go forth and prosper. :D


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jungles

Guest
614 67
eurusd :?:

*no guarantees, a portion of all set-ups fail,
.......but this is a live example of the set-up explained post 1
*NFP = reduce risk/no trade
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NVP

Legendary member
37,584 2,008
good for you J..............rare we see anyone offering new systems or ideas these days

for free anyway :)

N
 

jungles

Guest
614 67
ordinarily i would just let this run, but with NFP pending in 8mins,
exiting early at 1.2880, which is half of original TP, +1%

eurusd :?:
 

jungles

Guest
614 67
This strategy takes trades off 60M. The indi attached to the 60M reveals the 240M trend.

For this strategy I only want to trade in the same direction as the 240M trend and when that timeframe is trending strongly.

In chart A. the indi is clearly sloping downward and price is clearly away from the indi.

This tells me that 240M has a “good” downward trend and that my trade direction should only be shorting.

In chart B. price is clearly cutting back and forth across the indi and the indi is flat at times.

This tells me that 240M is moving sideways and that I should not trade this pair.

In sum

Only short when 60M price is below the indi. Only buy when 60M price is above the indi.

Only trade when price is “clearly” away from the indi, and the indi is “clearly” sloping.

Do not trade when price is cutting back-and-forth across the indi and/or when the indi is flat.

It’s that easy!
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jungles

Guest
614 67
watchlist for the start of the week........see if PA unfolds favourably
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Rambo35

Active member
227 6
Sounds like an interesting approach. I agree with you that there is no substitute for skill and interpretation of price action.
 

jungles

Guest
614 67
so that's the strategy, not too difficult, but it will take some practice

perhaps one of the most difficult aspects here is patience......you may have to wait 2 weeks for a set-up
 
 
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