Measuring My Trading - the Levels with Breakouts and Retracements

Hello,

Just making sure I am on the right track. Need your advice or just comments.

My trading style is to : Draw levels daily. Identify trend direction each morning. Trade Breakout and Retracements.

Trade 1:
R1 level trade Breakout retrace Limit Order
Once a bar get above Level and retrace, back to level, go long. Vice versa for short.
The blue arrow is the entry bar

Trade 2:
R2 Level
After a failure to breakout of R2, and starts to retrace. When price starts heading back towards to R2, i enter a buy stop above the most recent high.
The blue arrow is the entry bar

Both these trades were winners.

Questions:
1. Is this type of trading called price action trading?
2. Would you consider trade 2 very risky? I think of this as a retracement and trading in the direction of current trend.
3. What type of performance metrics in backtest or forward test would qualify as a trading style worth investing in or prove my edge.

What do you think of my trading?

Thank you

very attractive, basic trading based on price, candlestick(price and psychologist of market), pivot / cpr, snr, should also observe the initial balance, supply and demand.

thread before in ff
https://www.forexfactory.com/showthread.php?t=605011

Thank you for responding to my thread

Hello,

We need more analysis with differents markets. For example do the same with a range market, and post your analysis. What are your exits rules?

Green pips

Thank you limprobable for replying to me.

Would you recommend I perform manually back test of about 100 trades for different markets to determine if my strategy is profitable? Or at least try to program the strategy for more historical trades.

Thanks

I see you are still here... on the forum, any particular reason you stopped posting? I would suggest you re-active your TS postings since I believe much more traffic now as it was before... Tnx And u're welcome..

What do your results look like?

I guess we just missed the guy, but he was logged on on 01NOV19, we might be lucky after he returns... Maybe he doesn't have (e-mail) notifications set when someone quotes him so we might have to wait for him to come back, login again, for him to see the quotes

an interesting strategy, but I think that all the same the eur/usd will go down. consolidation from above ...
an interesting strategy, but I think that all the same the euro / dollar will go down