4 hour signals / 2 hour signals and only the occasional 1 hour setup.
Philosophy
Entry in direction of trend (determined by the the daily strength) after a pull back. Its kind of picking a top or bottom.
Rules
Context: Daily Trend as defined by moving averages on 4 hour or daily as being in correct order. Or a series of HH and HL or LH and LL.
Setup : 4 hour or 2 hour or 1 hour Pull Back to a barrier (support/resistance/BRN00/demand/supply zones) and oscillator extreme or price has to clearly stall (see 3rd chart below)
Signal: Price action (break of inside bar / pin bar / dbhlc / dblhc / outside bar / fakey) in direction of trend
Entry:1 pip above extreme of signal bar
Exit: 1 pip below extreme of signal bar
TP: 2:1
Observations
Last year there were approximately 200 trades that were really solid setups, across all pairs.
70% of them triggered on candles that closed at 4pm 8pm and 12am GMT+10. That's about 140 trades in the evenings.
Rare to get more than 1 trade a day.
3 times last year there was 10 to 15 days without a trade from any of the 20+ pairs I watch.
In a strong trend, a simple signal bar when oscillator is extreme is sufficient.
Otherwise, it is important to have a pull back to a barrier, or horizontal buildup, or some kind of failure before entering. There must be a confluence of reasons and more than just a single signal bar. Otherwise there is no edge.
My personal observations is that setups are best when they are supported by the daily charts.
The two examples below are classics. The first triggered with a pin bar and the second with a dbhlc
Philosophy
Entry in direction of trend (determined by the the daily strength) after a pull back. Its kind of picking a top or bottom.
Rules
Context: Daily Trend as defined by moving averages on 4 hour or daily as being in correct order. Or a series of HH and HL or LH and LL.
Setup : 4 hour or 2 hour or 1 hour Pull Back to a barrier (support/resistance/BRN00/demand/supply zones) and oscillator extreme or price has to clearly stall (see 3rd chart below)
Signal: Price action (break of inside bar / pin bar / dbhlc / dblhc / outside bar / fakey) in direction of trend
Entry:1 pip above extreme of signal bar
Exit: 1 pip below extreme of signal bar
TP: 2:1
Observations
Last year there were approximately 200 trades that were really solid setups, across all pairs.
70% of them triggered on candles that closed at 4pm 8pm and 12am GMT+10. That's about 140 trades in the evenings.
Rare to get more than 1 trade a day.
3 times last year there was 10 to 15 days without a trade from any of the 20+ pairs I watch.
In a strong trend, a simple signal bar when oscillator is extreme is sufficient.
Otherwise, it is important to have a pull back to a barrier, or horizontal buildup, or some kind of failure before entering. There must be a confluence of reasons and more than just a single signal bar. Otherwise there is no edge.
My personal observations is that setups are best when they are supported by the daily charts.
The two examples below are classics. The first triggered with a pin bar and the second with a dbhlc