One Hour Sniper (OHS)

Take profit. If you find one of my charts, you'll see I take money off the table at certain times if my lot size will allow it. I have no formula for this. I manually trail my stops which you should see on my Aud/Jpy trade. I often follow fractals when trailing my stop.

Thx Reno

Scalpers Ahoy! Rarely do I trade the 1m. This trade I would've taken.

Enjoy,
Reno

Total of 3 good trending trade opportunities on the 1m chart.

Why would any trader not use the only 'leading' indicator for the markets. If you're trading regular divergence, plot and trade based on the price closing above/below the trend line.

Hope some of this helps.
Thx Reno

I risk no more than 1% on HD and no more than .5% on RG.

thx Reno

My favorite TF. Here are 2 easy HD trades back to back. Set the alarm for midnight. Trading the Euro on the hourly chart.
Price above EMA
Stochastics was spot on.
RSI/EMA cross was as needed.
A trader should have been thrilled with 3R on this day, possibly a bit more.

Thx Reno

Why is this trader waiting on a silly RSI/EMA cross?
The following is a chart that shows why. Pulling the trigger on red candle 1 would have cost. Pulling the trigger on candle 2 would have brought a smile. Now, look for the cross.

In the 2nd example, (same chart) I have another HD divergence marked. While most traders are waiting for price to 'tank' (in this example), the indicators are 'clearly' showing you with a 'regular divergence' to cover your trade. How many of you would have got nailed. Probably me. I've been trading divergence for a little while, the market 'surprises me too'!!

Nothing like a couple of simple indicators to tell me price will 'continue' in a particular direction. 1H is my favorite TF.

Thx Reno

I do hold my trades over the weekend. I currently have 3 open trades. I also trade around holidays. This is my account, I trade it as I wish. We all know something could happen over the weekend, I could lose my money. Getting out of bed is a risk. We all risk differently.

Thx Reno

2 of my favorite pairs to trade during the holidays are GJ and EJ.

Are you still using High/Low and Smoothed for the Stochastic?
Thanks

I have mine set on Hi/Low and simple. Using the smoothed would likely be fine.

I've missed a number of opportunities with other indicators.

Thx Reno

I posted this chart to show what I look for on my stochastics. Regardless which line I use to plot my trend line, I like to see a big difference between any high or low on my stochastic. I prefer 30 units difference between the two points. If I glance to see a high at 80, I'm gonna be more apt to set up my pending order if my lower touchpoint is really close or below 50. And of course, vice versa.

It's a SNIPER move I use.

Thx Reno

Big swings in the stochastics for me to consider trading. It's your money.

Thx Reno

I absolutely would've taken this.
5 min ChJ
HD
RD
Wait for the RSI/EMA cross.
Beware the spread on these crosses.

Friends, this is not the Holy Grail. I like this strategy a lot. This trade I definitely would've taken, I would've lost.

Thx Reno

I'd like to wish all of you a wonderful Christmas and a blessed New Year. Remember Jesus is the reason for the season.

Regards
Reno

While watching the higher TF, watch for a hook in the stochastics. Also keep an eye on the HA candles on the lower TF, all candles give clues.

Thx Reno

I have gone back to more common settings and I've added an RSI/EMA indicator. This will work on any TF.

Thx Reno

Settings update
I began using the stochastics indicator with the following settings
21, 4, 3... hi/lo... smoothed. At one time, this is all I had for indicators. I was/am thrilled with the divergence trades I'm able to find and trade.

The other option I gave myself was going back to a more common stochastic setting of 8, 3, 3 same variables. I had to find another indicator to filter false moves. this additional indicator is the RSI(14)/14 EMA combination.

Either of these indicators will harvest good pips and do it often. They perform the same. If you want cleaner charts, use only the 21, 4, 3 stochastics. I will leave both templates and check my setup against both.

I'm very happy with the thread here. I certainly hope someone is benefitting from this information.

I still look for OB/OS stochastics as well on the larger TF.

Best wishes and Happy Trading
Reno

Same pair, same Hourly chart. One is showing HD, one is not.

Thx Reno