I think this is a very promising system but need some fine tuning. Firstly, when price is at point 3, it means it has great potential to go back to point 2 for a retracement. This is natural because price moves in waves. However, I have a better suggestion than blindly jumping in when Price is at Point 2 and that is explain below:
Solution: To reenter, we would use MA5 smooth High and MA5 smooth Low on Daily TF. For example, to reenter long/short, we would wait for price to breeched MA5 Low/High. Just do some eyeballing and you see this phenomenal reoccuring all the time. SL would be 2x the distance between MA5 High and MA5 Low. Exit when price reach Point 3 in conjunction with using trail stop. Also, we can use MA5 smooth High/Low as our exit point. (see attached pictures and template) http://www.forexfactory.com/images/icons/icon7.gif
Solution: To reenter, we would use MA5 smooth High and MA5 smooth Low on Daily TF. For example, to reenter long/short, we would wait for price to breeched MA5 Low/High. Just do some eyeballing and you see this phenomenal reoccuring all the time. SL would be 2x the distance between MA5 High and MA5 Low. Exit when price reach Point 3 in conjunction with using trail stop. Also, we can use MA5 smooth High/Low as our exit point. (see attached pictures and template) http://www.forexfactory.com/images/icons/icon7.gif
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trendy d1 with ma5.tpl
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