Hi Guys, if you have not seen my last thread please have a read as it is based of the same strategy.
https://www.forexfactory.com/showthread.php?t=993925
For this currency pair there is a slight difference, as I when I was backtesting my strategy on this pair I noticed I had a lot of losing trades so I have switched the entry signals around.
So here it is, this strategy using 1H timeframe where you look at only the closing candle of 8am UK TIME. If conditions for entering a trade are met we take a trade at 9am UK TIME. If there is no trade at this time, we do nothing until the next day
Indicators used: Aroon up and down set to a period of 30, 26EMA and 100 EMA
Conditions to enter a buy trade:
1 - Aroon down must be higher than aroon up.
2 - 26EMA must be higher than 100EMA
Conditions to enter a Sell trade:
1 - Aroon up is higher than Aroon down
2 - 26 EMA is Lower than 100EMA
That is all that is required to enter a trade, SL is set at 150 pips and TP is set at 50 pips, both are from the close of the 8am Candle. I know the RR is bad at 3:1.
If you are already in a trade and another trading opportunity comes up whether it is a buy or sell, you do not enter the new trade, you let the trade play out until it hits TP or SL
So far, I have backtested since 06/01/20 to 10/05/20. So i have not backtested it for long enough yet. My results so far are 16W and 0L, if taking trades with a risk of 2% that is a profit of 32% since the beginning of this year.
I have inserted the pictures of the first 3 trades of this year for reference.
26EMA is the Black line, 100 Ema is red dashed line.
This first trade is a Sell trade, took a while but it was a win in the end. Each black line is just the 8am GMT candle being marked. The red circles are entries and exit at TP or SL
This was another sell opportunity and last a few days
This was another sell opportunity and last a few days
I am going to test back further and also see if I can change up the TP and SL to get a better RR or overall gain %.
I would like your guys feedback on this and if anyone wants to help make improve this strategy. So far it seems good for sit work required, it is really good gains just like my strategy for GBP/USD. Combining both strategies together, we could of made probably a 50% gain on a account from the start of this year.
At the moment this strategy is on a 100% win streak with 16W and 0L which is impressive. I do not believe this will last long and wit the RR being 3:1, Its only going to take 6L to bring a account into a loss at this moment.
i will try and get some more pictures up of trades made during the period I have back tested when I have some time
https://www.forexfactory.com/showthread.php?t=993925
For this currency pair there is a slight difference, as I when I was backtesting my strategy on this pair I noticed I had a lot of losing trades so I have switched the entry signals around.
So here it is, this strategy using 1H timeframe where you look at only the closing candle of 8am UK TIME. If conditions for entering a trade are met we take a trade at 9am UK TIME. If there is no trade at this time, we do nothing until the next day
Indicators used: Aroon up and down set to a period of 30, 26EMA and 100 EMA
Conditions to enter a buy trade:
1 - Aroon down must be higher than aroon up.
2 - 26EMA must be higher than 100EMA
Conditions to enter a Sell trade:
1 - Aroon up is higher than Aroon down
2 - 26 EMA is Lower than 100EMA
That is all that is required to enter a trade, SL is set at 150 pips and TP is set at 50 pips, both are from the close of the 8am Candle. I know the RR is bad at 3:1.
If you are already in a trade and another trading opportunity comes up whether it is a buy or sell, you do not enter the new trade, you let the trade play out until it hits TP or SL
So far, I have backtested since 06/01/20 to 10/05/20. So i have not backtested it for long enough yet. My results so far are 16W and 0L, if taking trades with a risk of 2% that is a profit of 32% since the beginning of this year.
I have inserted the pictures of the first 3 trades of this year for reference.
26EMA is the Black line, 100 Ema is red dashed line.
This first trade is a Sell trade, took a while but it was a win in the end. Each black line is just the 8am GMT candle being marked. The red circles are entries and exit at TP or SL
This was another sell opportunity and last a few days
This was another sell opportunity and last a few days
I am going to test back further and also see if I can change up the TP and SL to get a better RR or overall gain %.
I would like your guys feedback on this and if anyone wants to help make improve this strategy. So far it seems good for sit work required, it is really good gains just like my strategy for GBP/USD. Combining both strategies together, we could of made probably a 50% gain on a account from the start of this year.
At the moment this strategy is on a 100% win streak with 16W and 0L which is impressive. I do not believe this will last long and wit the RR being 3:1, Its only going to take 6L to bring a account into a loss at this moment.
i will try and get some more pictures up of trades made during the period I have back tested when I have some time
