Disliked{quote} please correct me if i am wrong,the break of highest is the previous highest of PA before pullback and right after 50/200 EMA? you can call it 123 entry after break of 50/200 shown like in figure below {image}Ignored
I like your system because it is easy and it has a lot of potential. You can try it too with Renko Bars 
By example use Renko5. Risk/Reward 1:1. Last Swing High or Low for Stoploss and use this amount of pips for your profit Target. Don't make it too complicated, otherwise you lose......
By example use Renko5. Risk/Reward 1:1. Last Swing High or Low for Stoploss and use this amount of pips for your profit Target. Don't make it too complicated, otherwise you lose......
Keep it simple without too many crappy indicators!
Watch the image. I use Renko5 Bars. I use EMA50 (yellow) and EMA200 (aqua). Watch the purple vertical line. Time of crossing. Wait for the pull back and mark that lowest level. I did with the red line. Calculate the distance between the highest price level after the crossing and the red line. Set you Profit level just as far as you did with the Stoploss level, which is 47 pips. . Risk/Reward is 1:1. Of course you can set your own R/R levels, like 1:1.5 or whatever you like. This is an example (!) and you can use a normal timeframe too. However, with Renko's, it is much easier to spot support and resistance levels and they are time independent.
You have to set a BUY STOP order in this example at the blue marked zone. And of course it is much easier to set at that time a bracket order with 47 pips Profit and 47 pips Stoploss. The red horizontal line is your stoploss level, the green horizontal your Take Profit level.
You have to set a BUY STOP order in this example at the blue marked zone. And of course it is much easier to set at that time a bracket order with 47 pips Profit and 47 pips Stoploss. The red horizontal line is your stoploss level, the green horizontal your Take Profit level.
Keep it simple without too many crappy indicators!
