TREND/trend change: higher highs/lows or lower lows/highs on the daily/weekly/monthly. trendline. S/R zones.Take note of trendline gradient.
example of changes in trendline gradient:
Ignored
In addition,
(1)pyramiding only weekly breakouts, especially, in the direction of fundamentals. I dont care how solid a daily breakout looks, if it is not part of a weekly breakout, dont waste your time pyramiding....
(2)yaguex +bpc.
ANYTHING ELSE IS A TOTAL OF WASTE OF TIME(to consider for pyramiding, as far as i am concern at this level of my trading expertise)
Too many irregularities and hard to quantify rationally. Why that pattern? Mostly anti-trend, too. candlesticks confirmation is not enough, either. And i dont want to introduce indicator/oscillator divergence(i dont trade indicators).
merging them together, using lower time frames(1/4, 1/8), pattern formation(1, 2,3); 3 touch trendline break as entry
DAVID also has some points too: http://www.forexfactory.com/showthread.php?t=244741 (I can totally see how this can be used as a pyramiding strategy with the trend.). Of course, the strategy itself, when traded with confluence(rn, s/r, fib level,) will be more powerful. It warrants futher study, i may even merged this with danUk's (that will be method # 8: http://www.forexfactory.com/showpost...6&postcount=14 . They are perfect for each other. )
Group A: David + DanUk style or TTT trades. That stands for Three Touches Trendline bounce. A perfect 3rd bounce is non-negotiable. 3 out of 4 confluence must be active: trendline perfect touch bounce with bullish/bearish candle + fib range + RN or S/R level. The 3rd bounce occurring within the Fib range 38 to 61 is non-negotiable. Fibs are drawn from high/low of 2nd touch. The 3rd bounce/trigger candle must be bullish/bearish depending on long/short, respectively--this is also non-negotiable. The RN or S/R are interchangeable. Of course, the more the merrier. Time frame: H4 and above trades(still working on h1 and others, in the direction of the daily/weekly trend, of course.). Entry at +10pips above candle. SL at -10 pips below candle. Risk/reward must be at least 1:1 with retracement high/low close--this is also non-negotiable. Trade with the trend. BE trade at 1:1. First PT = retracement high/low. Final PT = trend reversal = method #2.
Group B: Three touches breakout trades( or TTB trades). If price action shows trend deterioration/reversal before or after three touches of the trendline, then followed by a break below/above that trendline at the fourth or fifth try, enter at bpc. This is generally trend trading, except when it is trend reversal(price action will display a 1,2,3 formation as indicator). For standard approach use timeframe: monthly/weekly/daily or weekly/daily/H4 or daily/H4/H1. Nothing lower than H1 as entry. Use BPC, of course. H4 can be used to check for the last, 3rd touch(Nothing lower than H4 for this specific subcriteria)
When possible, use yaguex + bpc(with 3 touches only, with or without 1, 2, 3 formation; on the trigger chart). that is it. Y + BPC can go as low as 15mins/5mins. That is it. PT = MM of BPC. BE at 80% of MM. Final PT = end of trend = method #2.
Group C:The emacro + mrfxeuro + greenius style( or TBR trades). That stands for Three touches breakout and retracement trades. After a solid TTB with or without bpc that has ran to its heart content, wait for price to retrace towards the breakout point, that breakout point must be between 38 to 61 fib levels. Then, initiate the hector style entry using 3 touch/bpc on trigger level, of course, watching out for 1,2,3 formation. BE trade at 1:1. Trade with the trend. Time frame:H4 and above(still working on h1 and below). 1st PT = retracement high/low. Final PT = end of trend = method #2.
Group D: Standard hector/yaguex trade, in the direction of the higher trend, of course. minimum of 3 out of 4 confluence(s/r, rn, trendline, fib levels 38 to 61). With the fib levels and S/R zone completely non-negotiable. h4/h1/15mins/5mins is the minimum. Watch for 1,2,3 formation, but trade the 3 touch break/bpc on the trigger chart level. BE trade at 1:1. First PT = retracement high/low. Final PT = end of trend = method #2.
Group E: Hector's LOB, and/or Tony123 + Hector LOB, otherwise known as H-LOB and T-LOB respectively. H-LOB = 1hr/15mins bpc. TWO days of unidirectional moves. Watch out for higher time frames S/R levels, etc. Asian hours consolidation. breakout between 8am to 10 am london time. exit at ADR or 80% ADR. respect RN. T-LOB = Same principles, use H4 and h1 consolidation. Trade a sturdy 1 min candle breakout from consolidation, between 8am and 10am london time. use SL of -10 pips+ spread(if spread is higher than 1 pip) otherwise, just use -10pips as SL; BE trade at +risk value. PT = ADR or 80% of ADR.
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In the end...it is important to always remember that "no man can capture all the fluctuations...jesse livermore".
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