One Hour Sniper (OHS)

Quoting renofaith

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{quote} Yalgaar, Your charts looks very clean and easy to read. I would draw a trend line on your 1H chart and wait for a red candle to close below it, that decision is yours. I would wait for the red candle AND the stochastic crossover. I likely need to edit that post. I would definitely wait on both to happen. Hope this helps. Thx Renofaith

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Quoting yalgaar

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I just noticed my stochastic does not match with what I see in your chart even after correcting what you pointed out. Is there anything else I might have incorrect. I am attaching my settings here. {image}

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Quoting renofaith

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{quote} Your numbers are correct, my other settings include (high/low) instead of closed, and the (smoothed) instead of exponential. I probably should've mentioned that. Thx Renofaith

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Quoting yalgaar

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{quote} Thanks for confirming. How do you decide your TP and SL on these trades?

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Quoting yalgaar

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Following are the rules I found in 1 of your post that I was trying to follow and learn. I believe the point number 4 is "AND" instead of "OR" Do you recommend any other changes? This is kinda how I do it. 1. Scan 15 pairs ever 4 hours looking for the SIGNAL line to close above/below the 80/20. 2. Identify the pairs (write them down). 3. Pull up the hourly charts and wait for a stochastic crossover or AND a change in candle color. 4. There is your entry friends. 5. Exits, worse case scenario 1:1. There will be losing trades, I've spotted them, although...

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Quoting yalgaar

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{quote} Thank you Renofaith. I am just trying to understand your rules. Seems like both has occurred now after the 1H candle close. The last candle is Red (new color change) and I also see the crossover in stochastic. I will sure keep in mind about "both" going forward. Thanks for taking your time and effort to explain. {image}

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Quoting renofaith

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I'm not gonna lie friends, I would have probably taken both trades, but note the daylight on the stochastics readings. Hope this helps someone who maybe doesn't have much time to trade. I love staring at PA. I got stuff to do!! CAUTION... I don't think this makes a difference, but my sto setting is on the hi/low. {image}

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Quoting renofaith

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This is kinda how I do it. 1. Scan 15 pairs ever 4 hours looking for the SIGNAL line to close above/below the 80/20. 2. Identify the pairs (write them down). 3. Pull up the hourly charts and wait for a stochastic crossover or a change in candle color. 4. There is your entry friends. 5. Exits, worse case scenario 1:1. There will be losing trades, I've spotted them, although I have not participated in any yet. This is forex. It probably wouldn't hurt to monitor news events. I don't. I wont. You can!!

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Quoting yousername

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{quote} Dear Renofaith, thank you for this very very well done entry strategy. What else do you pay attention beside using this analysis? Maybe like news, volatility, candle stick formation etc? Thank you

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Quoting ryanngyk

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Thanks Reno for sharing this method - didnt manage to get on any of the good trades that started since last week, hopefully next week will be more exciting..

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Quoting renofaith

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{quote} Thank you so much for bringing that up. I refuse to take trades on the 1H when the 4H stochastic signal is below 80 at that time. Hope that helps. Thx renofaith

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Quoting renofaith

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{quote} Your numbers are correct, my other settings include (high/low) instead of closed, and the (smoothed) instead of exponential. I probably should've mentioned that. Thx Renofaith

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