|Pips_Cruiser ||Jan 22, 2008 2:29am | Post# 442 |
Here’s a summary of the Auslanco’s “15 Minute Strategy”. I try to take it at face value, and not read anything else into it when possible. The elements of the signal don’t have to occur in any particular order. They also don’t have to occur within a certain amount of time of each other. They just need to all be in place at the same time for it to be a valid signal.
The one exception to this is in the “NOTE”, where it explains that the QQE60 cross must occur when price is on the proper side of the 1hr 100sma and the Daily 5sma. This helps prevent “false breakout” signals during a ranging market, and also keeps you from going against the trend in a trending market.
Buy Signal (opposite for Sell):
1) Price must be above the 1hr 100sma.
2) Price must be above the Daily 5sma.
3) Price must be above the session Daily pivot.
4) 15M chart Level Stop Reverse buy arrow (up).
5) 15M chart QQE5 crossed up (RSI-index green line crossed above the Level-RSI-slow line), and crossed above the 50 line.
6) 15M chart QQE60 crossed up (RSI-index green line crossed above the Level-RSI-slow line).
NOTE: QQE60 has to cross upward while the price is above the 1hr 100sma and Daily 5sma. If the QQE60 crosses upward while price is below the Daily 5sma or 1hr 100sma, don't take the trade.
10 pips below (for buy) or above (for sell) the Level Stop Reverse dashed line at the time of entry.
Set TP at the next pivot support or resistance level from the entry (R1, R2, S1, S2, etc.).
If the QQE 60 crosses in the opposite direction, exit the trade.