DislikedWow....You are almost trading J16's base system without even knowing it!
Looks very, very good and I like the way you are implementing your rules.
I have heard a lot of people on the private forum say, "If they look at...Ignored
I hadn`t written in English in public(forum) like this before and that made me so nervous that I was lost before I finished the last post.
Actually I thought that maybe I`d better delite that post, then I read your comment now ,I changed my mind and decided to leave that last post as it is ,so that I dont forget this feeling(If there`s a hole ,I want to hide myself in it) and keep my mind to post more clear and simple.
Really thanks Pinbar
then,,charts.
NZDUSD
Daily&4hchart(FXDD)
Dailychart
(2011.1.7)BUOB at Fib50%
and this is my trading plan.
If price breaks TL(Blue TL/I think it also forms Descending Triangle pattern) upward and I can confirm a nice bullish PA(1~4hPA/good size, good location and good momentum) in or around the Triangle area(Red triangle above 0.7600.please see 4hchart which I attached), I would ride on it.
If I can`t confirm any nice PA(1~4hPA) there (around Red Triangle) in a next few days(until Tue or Wednesday`s Close at most),I would pass(abandon) this trading plan and wait for the next Daily PA coming up.
If I take a trade , Lime lines would be my FTA(first trouble area/0.7635-0.7660)
I have 2 different aproachs on Daily PA.
and about this BUOB, I look at it as only just a hint to catch a nice 1~4hPA after TL breakout(I mean, this BUOB isnt a trigger for me to enter the market. I never take a trade with this BUOB breakout. It`s too dangerous)
Thanks for reading.
Ken.