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DislikedOK so if 955 is correct I can't see where the previous high was broken, I'm gonna have a go at your next 2 before i go!Ignored
DislikedHi Forex1962,
I can see where you are going wrong.
You are waiting for a high and then another high (then taking the trade of this last high).
You need to simply take a break of the last high.
Hope that makes sense.Ignored
Disliked1 pip above that high.
Also look at link I posted in the post before where Cubby makes an entry. It is very similar to all those I showed.
Again I remind: this screen is done in a very unhealthy market environment. Most of the times entries look better.
And YES, if you have no previous high that is higher, it is better! It is usually in the middle of a (strong) trend!
The reason for using the nearest high is because forex is about buy cheap sell expensive. The earlier you get in the better. Since it is not possible to tell where bottom or top...Ignored
DislikedIt must be 1 pip under the high, usually it looks right. I don't know how many pips that was, but it looks alright.
Here an entry from Cubby: http://www.forexfactory.com/showpost...&postcount=663Ignored
DislikedMy personal belief, (and I have not tested this) but the flaw I see in the original post is the need for 70% win rate to compensate for the 2:1 r/r. Most trending systems will revert to 50% win rate because the premise of trending systems is to let your profits run, cut losses short.
If I was interested in this system, I would be looking for entries that have at least an equal TP to SL 1:1 R/R, but that is the way I've learnt to trade.Ignored
DislikedBy the way, can someone make and indicator that on every fractal would show the price instead of that triangle?Ignored