tdion & tradestar1, it has been a pleasure reading your discussions! I wish you both every success with your strategies!
tradestar1, momentum is the only thing that's worked for me as well.
tdion, I know what you are doing. I use the same kind of strategy to complement longer term trend-following system. Interestingly enough, I was specifically looking for someone else who uses this approach and Google took me to this discussion thread. I fully agree with all of your assertions regarding the importance of momentum coming off S&R (the latter does not have to be linear). EURUSD appears to be the best pair for this strategy in FX. I am personally diversifying across EURUSD, AUDUSD, GBPUSD and USDCHF. So far, I have only been ably to "stabilise" the model on D1. H4 struggles and any shorter bars fail miserably due to the negative edge created by the cost of crossing the spread and skid.
tradestar1, momentum is the only thing that's worked for me as well.
tdion, I know what you are doing. I use the same kind of strategy to complement longer term trend-following system. Interestingly enough, I was specifically looking for someone else who uses this approach and Google took me to this discussion thread. I fully agree with all of your assertions regarding the importance of momentum coming off S&R (the latter does not have to be linear). EURUSD appears to be the best pair for this strategy in FX. I am personally diversifying across EURUSD, AUDUSD, GBPUSD and USDCHF. So far, I have only been ably to "stabilise" the model on D1. H4 struggles and any shorter bars fail miserably due to the negative edge created by the cost of crossing the spread and skid.