Has anyone else tried a resistance 1 breakout with a stop at the level 3 support using daily charts?
Im trading in the direction of the trend only(20 sma) and this is so simple,but I have been demoing it for a while now,and it looks really good.
The only real thing left to work on is an approximate profit target,or a scale down?I really just want to follow the trend and hang in there for big only trades.
So I was wondering if anyone else trades with a set up this simple,and were successful with it,or is success with a system this basic simply attributed to beginners luck?
Im trading in the direction of the trend only(20 sma) and this is so simple,but I have been demoing it for a while now,and it looks really good.
The only real thing left to work on is an approximate profit target,or a scale down?I really just want to follow the trend and hang in there for big only trades.
So I was wondering if anyone else trades with a set up this simple,and were successful with it,or is success with a system this basic simply attributed to beginners luck?