Urban Towers Scalping Strategy

[urbanforex]

Name : Urban Towers Scalping Strategy by urbanforex
Indicators : Blue MA
Time Frame : 15min

Description : During a trend, when the market retraces to the blue MA with at least 3 consecutive lower highs (3 towers), we enter at the break of the high of the last high. Ok let me explain in details one by one.

Steps to Follow :

- Price is above the blue MA trend is up
- Price is below the blue MA trend is down
- Market retraces towards the blue MA with 3 consecutive lower highs (in a uptrend)
- At the break of the high of the last candle, we enter long (in a uptrend)


Trade Example Number 1

Alright, what do we know right off the bat by looking at this. We know the market is in a uptrend because the market is above the blue MA. The market retraced to the blue line with 3 consecutive lower highs (3 towers) as we can see the red candles above. Next, we entered long at the break of the high of the last retracement candle - which in this case is 3rd tower as we can see above. Ok 1 more example for you guys




Trade Example Number 2

Ok now here is a example of a no good trade.

Alright, in this example, the market was in a uptrend, it did a 1, 2, 3 tower retrace but it never had a breakout on the high of the 3rd tower, in fact, the market continued down and changed to a down trend. This example is to show that this strategy helps avoid many fake trades.


I hope you like it ! Let me know if you have any questions.

- Navin

 

[Dan S]

Thanks for sharing

What periods do you use for the emas and how do you take profit and set your stop loss?

 

[urbanforex]

Hi Dan S,

I have attached a picture to make it easier to understand what I'm going to explain.

In the picture we see, we have a 1,2,3 towers then we have the break of the white line is where we enter the trade.
Regarding Stops, you keep the stops at the lowest dip. (The red line)

Regarding exits / take profits, you have to use your own methods.

Hope that helps.

- navin
urbanforex

 

[tony10000]

Hi
Has this been tested on a large time frame eg 1Hr or 4Hr ? If so what was the outcome .

Thanks in advance.

 

[forexsniper]

Hi Dan S,

I have attached a picture to make it easier to understand what I'm going to explain.

In the picture we see, we have a 1,2,3 towers then we have the break of the white line is where we enter the trade.
Regarding Stops, you keep the stops at the lowest dip. (The red line)

Regarding exits / take profits, you have to use your own methods.

Hope that helps.

- navin
urbanforex

interesting. thanks for sharing.

1. For this timeframe, what eMA values do you use?
2. I assume this would work for all markets, eg futures, etc.

 

[goronnie]

Hi Dan S,

I have attached a picture to make it easier to understand what I'm going to explain.

In the picture we see, we have a 1,2,3 towers then we have the break of the white line is where we enter the trade.
Regarding Stops, you keep the stops at the lowest dip. (The red line)

Regarding exits / take profits, you have to use your own methods.

Hope that helps.

- navin
urbanforex

Looks interesting. Could you let us know what the settings are for your 2 groups of MAs. Thanks a lot.

 

[CliveNayler]

Moving Averages

I could not open the indicator files you added but could I ask what MA's you are using and whether you look up at a higher time frame at all for trend confirmation?

Clive

Name : Urban Towers Scalping Strategy by urbanforex
Indicators : Blue MA
Time Frame : 15min

Description : During a trend, when the market retraces to the blue MA with at least 3 consecutive lower highs (3 towers), we enter at the break of the high of the last high. Ok let me explain in details one by one.

Steps to Follow :

- Price is above the blue MA trend is up
- Price is below the blue MA trend is down
- Market retraces towards the blue MA with 3 consecutive lower highs (in a uptrend)
- At the break of the high of the last candle, we enter long (in a uptrend)


Trade Example Number 1

Alright, what do we know right off the bat by looking at this. We know the market is in a uptrend because the market is above the blue MA. The market retraced to the blue line with 3 consecutive lower highs (3 towers) as we can see the red candles above. Next, we entered long at the break of the high of the last retracement candle - which in this case is 3rd tower as we can see above. Ok 1 more example for you guys




Trade Example Number 2

Ok now here is a example of a no good trade.

Alright, in this example, the market was in a uptrend, it did a 1, 2, 3 tower retrace but it never had a breakout on the high of the 3rd tower, in fact, the market continued down and changed to a down trend. This example is to show that this strategy helps avoid many fake trades.


I hope you like it ! Let me know if you have any questions.

- Navin

 

[urbanforex]

Hi
Has this been tested on a large time frame eg 1Hr or 4Hr ? If so what was the outcome .

Thanks in advance.

I have not tested other than 15mins.

- Navin
urbanforex

 

[urbanforex]

interesting. thanks for sharing.

1. For this timeframe, what eMA values do you use?
2. I assume this would work for all markets, eg futures, etc.

Yes it should work on futures market also.

I do not know the MA settings. I have attached the indicator though on this forum. The indicator can be used on metatrader 4 software.

- Navin
urbanforex

 

[urbanforex]

I could not open the indicator files you added but could I ask what MA's you are using and whether you look up at a higher time frame at all for trend confirmation?

Clive

The indicator can be used with Metatrader 4 software. If you do not have that software, message me in private I'll guide you on how to get it and install the indicators.

- Navin
urbanforex

 

[urbanforex]

Mar 18 - EURGBP Trade

Style : Aggressive

- Navin
urbanforex

 

[georgeharrison]

Hello

 

[urbanforex]

March 20 - NZDJPY Trades

Style : Conservative then Aggressive

- Navin
urbanforex

 

[REHAN 123]

Strategy

Style : Conservative then Aggressive

- Navin
urbanforex

Hello Navin

How are you?

Just wanted to ask please how I can use your MA strategy to enter the market on an intra-day basis?

Thanks very much
Rehan

 

[urbanforex]

Hello Navin

How are you?

Just wanted to ask please how I can use your MA strategy to enter the market on an intra-day basis?

Thanks very much
Rehan

Hi Rehan,

You will need a software called MT4. Then you will need to install the Rainbow MMA indicator and you will be able to get your charts similar to mine.

You can send me a private message and I can help assist how to get it set up.
- Navin

 

[Jimmy4x]

Hello Everyone

Hello everyone,

Just wanted to introduce myself. My name is Jimmy Simon and I am an intern for Currency Analyst Navin Prithyani. I will be keeping this thread updated with pictures and trades. Feel free to ask any questions about the strategy.

JS

 

[Jimmy4x]

EUR/CHF on 19th August 2009

Heres the trade that happened today on EURCHF.

Cheers,
JS

 

[Jimmy4x]

GBP/USD on 21st August 2009

Here's a trade that happened yesterday on GBP/USD.

 

[Jimmy4x]

tw\

Here's the two long trades that happened today on NZD/USD.

Cheers,

JS

 

[Jimmy4x]

Friday 28th August on GBP/JPY.

Here is a trade that happened on Friday 28th August on GBP/JPY.
Hope you guys all were able to catch this picture perfect trade.

Cheers
JS