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(I am not a native speaker of English. Please pardon my wrong choice of words or grammatical ...
i have backtested the daily green red method in gbpjpy, feb-mar 2017. sl=fib0, entry=fib100, tp=fib 200, no trailing stop the result is as follows. winning trades are 8 times losing trades are 13 times now unfinished trades are 3 times
By the way, i identified the new HH-LL-LH formation in the gbpusd 4h chart just now. I am pending order by the rule of FETS. TP is 261.8, and using trailing stop instead of break even.
To be sure, resistance/support (r/s) is generally a matter for consideration. However, in my opinion, r/s is very difficult to identify. I have years of experience of trading, but i can not tell at all which high/low price will be functioning as r/s ...
by the way, previously i did manual and rough backtests by the rule of TP=100. the result is as below. [time frame: 4H] XAUUSD 108 trades PF 1.53 EURUSD 138 trades PF 1.25 USDJPY 156 trades PF 1.80 GBPUSD 167 trades PF 1.42 AUDUSD 147 trades PF 1.18 ...
for example, the attached image is gbpusd 4h chart. i placed a pending order by the rule of this system (TRS). TP point is not fibo 100, not 161.8, but 261.8. accordingly, i took more more profit.
(I am not a native speaker of English. Please pardon my wrong choice of words or grammatical ...
Hi, dimdel, According to your green/red candle strategy, I can show such a result. Is it correct?