NJ 1H One Hour Sniper trade. The RSI indicated an hour early entry candle, I chose to wait on a stochastic cross. Both candles closed within 4 to 5 pips of each other.
Enjoy
Daily chart- 10 sweet trading days 300 odd pips. 1st trade you see, stop would've been under the trigger candle itself.
I look to buy when RSI breaches 32-ish. Do you have the patience for a D1 chart? 2nd opportunity is a HD. I may lighten things up a bit soon.
4H CHFJPY reversal candle. Decided to lighten things up a bit.
RSI and MA at 68
Stochastic already leaning down.
Wait at least 1 hour if you decide to trade Sunday unless you wish to fork over a 20 pip spread.
I... will be waiting on a complete RSI cross (I need to see daylight).
My stop will likely be 3 pips over the trigger candle.
Candle needs to be red. It's my money, right?
Enjoy
This chart is from last month, showing the stochastic in OS territory on the 4H. The 2nd chart is the 1H.
Always wait for a candle to change color and a complete cross of the stochastic.
A successful sniper has one bullet, it cannot be wasted.
Do you cheat? Do you bend the rules? Getting in early may benefit you in the short term, but it may cost you in the long haul. None of us want to wait 3 bars to enter a trade.
Stochastics OB on the D1
Stochastics OB on the 4H
Stochastics OB on the 1H
Imagine setting a limit order at the 78 fib level. The 1st vertical line was a OHS trade, the 2nd line was a simple HD trade. I hope everyone had a great weekend. There are likely better strategies out there, I think I'm gonna stick with this one. Happy Trading to all.
When taking reversal trades, I plot a vertical line when the sto reaches OB or OS, but wait for a smaller candle, which is a signal that a reversal may be coming.
Everyone here loves a good mystery, we spend countless hours trying to figure it all out. Some say keeping it simple is the best approach to trading. All of us want to be employed by self. Go find someone who has what you want and do what they do over and over and you will have what they have. Don't forget to take time out for you. Celebrate all victories, large and small. Happy Trading to all.
EJ is showing bearish. 1H chart is setting up to be a trigger for me. The red trend line at price tells me the bulls are done for now. I also drew a line towrds the stochastics to show I like to wait on a cross. This time I probably would not have. The sto crosses and candle color changes do not always happen at the same time.
Finding the tops and bottoms is not my objective in trading. Any trader, with the right management can support a family harvesting just 50% of any given major move. Simply waiting for a candle change and OS/OB will end in a fair day for anyone. IMO
Someone asked me which oscillator I prefer to use. My answer was simple. I told them to take any indicator 'they' liked and watch it for
for 1 hour on the 1 minute time frame during the london session. If I see a top or bottom or a HD, It doesn't matter to me which indicator
I use. Experiment with a small lot size, you may learn a great deal. I know I have.
My apologies.... when you watch an indicator for an hour on the 1 min or maybe the 5m, you'll have a much better awareness of how that indicator behaves depending upon what price is doing, up, down, or ranging.
