Hi guys,
I was working on my system. I had this system long ago, but I make filters and improved it.
I will describe the system.
1. It is better to trade in direction of major trend
2. as more sized bullish/bearish candles as reliable.
3. Look at hourly and 4 hour charts two. Was this rapid move in such short term (in 30min, hour, 4 hour) or it rallied gradually. as short time-period as reliable.
4. slope of Stoch is more than 45 degrees, gap between slow and fast stoch widens. If slow stoch does not go to over-zone and reverses it is good indication. Also fast stoch must enter ove-zone
5. slope of RSI is more than 45 degrees
6. I trade this only on EURUSD. the reason is because this currency is most liquid one. So when this rallies happen it is not familiar for liquid currency because as liquidity is high the volatility must be down especially in short periods.
As you see from Chart I use Stochastic, RSI with chart patterns.
any questions and notes are welcome
thanks
777
I was working on my system. I had this system long ago, but I make filters and improved it.
I will describe the system.
1. It is better to trade in direction of major trend
2. as more sized bullish/bearish candles as reliable.
3. Look at hourly and 4 hour charts two. Was this rapid move in such short term (in 30min, hour, 4 hour) or it rallied gradually. as short time-period as reliable.
4. slope of Stoch is more than 45 degrees, gap between slow and fast stoch widens. If slow stoch does not go to over-zone and reverses it is good indication. Also fast stoch must enter ove-zone
5. slope of RSI is more than 45 degrees
6. I trade this only on EURUSD. the reason is because this currency is most liquid one. So when this rallies happen it is not familiar for liquid currency because as liquidity is high the volatility must be down especially in short periods.
As you see from Chart I use Stochastic, RSI with chart patterns.
any questions and notes are welcome
thanks
777
Attached Image
kiss the trend