DislikedOf course, there are exceptions to every rule, for instance, you would miss the best trade of the week in the EUR-USD (July 4 to July 9)
Trends must end at some point, and you must acknowledge that this method is picking price turning points no matter which way you look at it.
Trend up until previous Friday was definitely UP, according to rules, the trade signal on Monday would be ignored?
PS - can only post 1 chart, seems a limit on noobs
PPS - 4 Hour chart added laterIgnored
I think you are right, besides as far as I know, to follow the major trend is not a Big E rule, neither It is a basic Forex rule as many say, maybe It is part of trend following systems which by the way this system It is not, this system is much more like a price action system, this is why angles are so important because a good angle is nothing more that a rejection of the price from some support, resistance or a break of some chanel, formig an engulfing pattenr or a hammer, or any other price action patern, the merit of this system as I see it is that makes you trade as a price action trader using only few indicators. Also major trends are very subjective, who says which is the righ trend? 4 hour charts? Daily charts?Weekly charts, Monthly charts?
Trend following systems are not so bad but 90% of the systems belong to this kind of systems.
I am a price action trader, but this system got my simpathy as It made me remember long ago, when I started to leave trend following systems behind and I started to follow the price, in that precise moment and using only 4 hours charts I became a profitable trader.
Indicators always obey Price, not the other way.