This system is not hard to trade, but please read this whole post before trading it.
What you need:
GbpJpy chart 1hr
Candlesticks
Momentums 1,10,14
SMAs 10 to the low high and close.
What to do:Wait for the daily candle to close then when it hits the high or low of the day before sell or Buy. Look for Candle formatons
and the area in which the momentum is.
TF and SL are up to you
If it doesn't hit the day befores high or low, start again
This system candle be very profitable, but will need a big account(unless you use a micro account), and a lot of patience.
Feel free to flood this thread with comments or questions.
This system is not all about the breakout of a candle, although that's how the system origonally was created.
If you are not interested in trading the daily candle breakout part of the system, you can use a 4 hr chart.
It's also about the formation of candles, where the momentum is, and the analysis of the daily candle.
Although this thread is in the Trading Journals forum, it was not meant to be a Journal,(although I post all my trades and ideas here
instead of making another thread). It was meant to be a system.
I will make my trades here, and post examples and charts here.
Note:This system is still going to be run on the pound yen, but I will post my analysis of other pairs based on Momentum and the threre
MAs.
Note:Trade At Your Own Risk.
Candle Formations and Trade Setups.
Bull Bear Bull Formation
http://www.forexfactory.com/showthre...17#post4186917
http://www.forexfactory.com/showthre...=1#post4186920
http://www.forexfactory.com/showthre...=1#post4186922
http://www.forexfactory.com/showthre...=1#post4186924
http://www.forexfactory.com/showthre...=1#post4186927
Bear Bull Bear Formation
http://www.forexfactory.com/showthre...=1#post4186932
http://www.forexfactory.com/showthre...=1#post4186941
http://www.forexfactory.com/showthre...=1#post4186939
http://www.forexfactory.com/showthre...=1#post4186941
http://www.forexfactory.com/showthre...=1#post4186944
The Drive Formation
http://www.forexfactory.com/showthre...50#post4186950
http://www.forexfactory.com/showthre...=266232&page=3
http://www.forexfactory.com/showthre...=266232&page=3
http://www.forexfactory.com/showthre...=266232&page=3
http://www.forexfactory.com/showthre...=266232&page=3
2 Candle Formation
http://www.forexfactory.com/showthre...86#post4187086
http://www.forexfactory.com/showthre...=1#post4187087
http://www.forexfactory.com/showthre...=1#post4187089
http://www.forexfactory.com/showthre...=1#post4187090
http://www.forexfactory.com/showthre...=1#post4187091
http://www.forexfactory.com/showthre...=1#post4187093
MMAB Formation
http://www.forexfactory.com/showthre...=1#post4187096
http://www.forexfactory.com/showthre...=1#post4187099
http://www.forexfactory.com/showthre...=1#post4187100
http://www.forexfactory.com/showthre...=1#post4187102
http://www.forexfactory.com/showthre...=1#post4187106
PB after The Drive Formation
http://www.forexfactory.com/showthre...13#post4187813
http://www.forexfactory.com/showthre...=1#post4187814
http://www.forexfactory.com/showthre...=1#post4187817
http://www.forexfactory.com/showthre...=1#post4187820
http://www.forexfactory.com/showthre...=1#post4187825
What you need:
GbpJpy chart 1hr
Candlesticks
Momentums 1,10,14
SMAs 10 to the low high and close.
What to do:Wait for the daily candle to close then when it hits the high or low of the day before sell or Buy. Look for Candle formatons
and the area in which the momentum is.
TF and SL are up to you
If it doesn't hit the day befores high or low, start again
This system candle be very profitable, but will need a big account(unless you use a micro account), and a lot of patience.
Feel free to flood this thread with comments or questions.
This system is not all about the breakout of a candle, although that's how the system origonally was created.
If you are not interested in trading the daily candle breakout part of the system, you can use a 4 hr chart.
It's also about the formation of candles, where the momentum is, and the analysis of the daily candle.
Although this thread is in the Trading Journals forum, it was not meant to be a Journal,(although I post all my trades and ideas here
instead of making another thread). It was meant to be a system.
I will make my trades here, and post examples and charts here.
Note:This system is still going to be run on the pound yen, but I will post my analysis of other pairs based on Momentum and the threre
MAs.
Note:Trade At Your Own Risk.
Candle Formations and Trade Setups.
Bull Bear Bull Formation
http://www.forexfactory.com/showthre...17#post4186917
http://www.forexfactory.com/showthre...=1#post4186920
http://www.forexfactory.com/showthre...=1#post4186922
http://www.forexfactory.com/showthre...=1#post4186924
http://www.forexfactory.com/showthre...=1#post4186927
Bear Bull Bear Formation
http://www.forexfactory.com/showthre...=1#post4186932
http://www.forexfactory.com/showthre...=1#post4186941
http://www.forexfactory.com/showthre...=1#post4186939
http://www.forexfactory.com/showthre...=1#post4186941
http://www.forexfactory.com/showthre...=1#post4186944
The Drive Formation
http://www.forexfactory.com/showthre...50#post4186950
http://www.forexfactory.com/showthre...=266232&page=3
http://www.forexfactory.com/showthre...=266232&page=3
http://www.forexfactory.com/showthre...=266232&page=3
http://www.forexfactory.com/showthre...=266232&page=3
2 Candle Formation
http://www.forexfactory.com/showthre...86#post4187086
http://www.forexfactory.com/showthre...=1#post4187087
http://www.forexfactory.com/showthre...=1#post4187089
http://www.forexfactory.com/showthre...=1#post4187090
http://www.forexfactory.com/showthre...=1#post4187091
http://www.forexfactory.com/showthre...=1#post4187093
MMAB Formation
http://www.forexfactory.com/showthre...=1#post4187096
http://www.forexfactory.com/showthre...=1#post4187099
http://www.forexfactory.com/showthre...=1#post4187100
http://www.forexfactory.com/showthre...=1#post4187102
http://www.forexfactory.com/showthre...=1#post4187106
PB after The Drive Formation
http://www.forexfactory.com/showthre...13#post4187813
http://www.forexfactory.com/showthre...=1#post4187814
http://www.forexfactory.com/showthre...=1#post4187817
http://www.forexfactory.com/showthre...=1#post4187820
http://www.forexfactory.com/showthre...=1#post4187825
"speak softly, and carry a big stick" Teddy Roosevelt