Attachments: The Support Resistance Switch Method - Trade with one line

The Support Resistance Switch Method - Trade with one line

#81
Aug 24, 2018 10:03am Aug 24, 2018 10:03am

emicovi
Joined Aug 2017 | Status: If you wanna win leave FF | 294 Posts

What happened?

#82
Apr 23, 2019 12:11pm Apr 23, 2019 12:11pm

CrocodileRex
Joined Sep 2016 | Status: Trader | 622 Posts

Hi traders,

I am reviving this thread and the method still is the same. The difference now is i use ADR to set my stoploss instead of a fixed stoploss which sometimes took out my loss and reverse.

I took this trade earlier for gbpnzd for a 23 pips profit at 1:1. I have a few more levels watching and will post once the price is near.

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#83
Apr 24, 2019 8:30am Apr 24, 2019 8:30am

acetrader
Joined Feb 2006 | Status: Trader | 2,228 Posts

Quoting CrocodileRex

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{quote} Sure! Here is the same chart for the cadjpy trade two days back. 1 is where the price breaks out 2 is where i started to draw the purple line. Then i wait for price to pullback/retrace and put on my limit order 3 is where the limit order is triggered. It was hit exactly and reverse back to my tp at 11 pips for that pair. Of course, this is all in hindsight and i dont like hindsight trading where traders only post the trades after it happened. The good thing about this method is we draw the line, wait for price to come, take the trade and...

Ignored

Hi Rex, This is a good example of what you should be looking for. Will it work 100% of the time NO, but nothing else will either. If its works for is all that matters, not what others are saying. This pattern repeats numerous times a day across many pairs. So, if it work for you trade on. The one who ask about why the black charts has a point. Much clearer for everyone with a white background, but again that is your choice. Wishing you the best.

#84
Apr 24, 2019 8:36am Apr 24, 2019 8:36am

acetrader
Joined Feb 2006 | Status: Trader | 2,228 Posts

Rex, One other thing....if you have only a few to follow along it will probably be because you have one line & not 10 indicators on your chart. Simple something seems to NOT attract many followers. Now if someone figures out a wonderful EA, then its on. I like your simple style. Just my views & nothing more. Trade on my friend.

#85
Edited Apr 25, 2019 2:19am Apr 24, 2019 10:28pm | Edited Apr 25, 2019 2:19am

CrocodileRex
Joined Sep 2016 | Status: Trader | 622 Posts

Hello traders,

I will take this aussie with 10 pips. Let's see if this is triggered or a miss.

Edit: level discarded since it made a move south already.

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#86
Apr 24, 2019 11:54pm Apr 24, 2019 11:54pm

Mercennary
| Joined Oct 2016 | Status: Trader | 346 Posts

Hey man, I've being researching a similar approach, how is it going for you with this methodology?

thinking outside the box

#87
Edited 5:27am Apr 26, 2019 4:15am | Edited 5:27am

CrocodileRex
Joined Sep 2016 | Status: Trader | 622 Posts

Hi traders,

I will take AC 0.9504 for 10 pips if it comes

Edit : another miss

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#88
Edited 4:51am Apr 29, 2019 3:47am | Edited 4:51am

CrocodileRex
Joined Sep 2016 | Status: Trader | 622 Posts

Hi traders.

I will take EJ at 124.89 if it comes with 12 pips stoploss.

edit: miss

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#89
Apr 29, 2019 6:29am Apr 29, 2019 6:29am

dicojoxaftr
| Commercial User | Joined Nov 2018 | 288 Posts

Quoting reteid2222

Disliked

Wonderful to trade by hand....even then i have some questions: When to start a trade...how many points need the price move away from the S/R line? When you calculate per ADR....how to calculate this Distance? SL on the other side....how many points.... As you see i have coded a similar system and I am very interested in this!

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