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Horizontal line trading system 32 replies

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Attachments: Horizontal line system
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Horizontal line system

Monday US BANK HOLIDAY.
Best pair to trade GBPJPY
Close to open 127 PIPS.
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""TP is whatever you can get before it goes against you.""
1dominican,

Yes sir, the majority of XXXJPY Pairs were good today...
Quoting gringo2019
{image}
Remember never risk more thant 10 pips
The reason to buy is bc the price is 10 pips above the open ,as long as price is 1 pip below the open, the reason to buy is gone.
""TP is whatever you can get before it goes against you.""
November Month Open Horizontal Line -

I'm starting to see alignment for continued USD strength on these crosses, and swap rates agree, big boys, right?

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If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step Return This Week: na
  • Post #85
  • Quote
  • Edited 11:37pm Nov 11, 2024 9:51pm | Edited 11:37pm
Quoting Erebus
November Month Open Horizontal Line - I'm starting to see alignment for continued USD strength on these crosses, and swap rates agree, big boys, right? {image}
Price is below the trigger sell 10 pips below the monthly open,based in the horizontal line logic, that is all the info that you need to go short.
just control your risk and do not let the market take back your profits
the chart below is printing monthly open trigger levels
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""TP is whatever you can get before it goes against you.""
see how many time price crisscrosed the monthly horizontal trigger level.
sooner or later you will get a winner
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""TP is whatever you can get before it goes against you.""
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Quoting gringo2019
{image}
your rule are good, by waiting for the bar body to be above the trigger line you are avoiding false breaking of the entry trigger lines,but you need more time in front of your pc.
By trading using buy stop and sell stop you can go to enoy life after your place your bets.
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""TP is whatever you can get before it goes against you.""
1dominican,

I agree, just finishing my testing over the last few days with the revised TP Indicator... verify and validate before real trading.
gbpusd closed my short with huge profits.
now i will wait for a buy trigger any time soon.
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""TP is whatever you can get before it goes against you.""
Quoting Erebus
November Month Open Horizontal Line - I'm starting to see alignment for continued USD strength on these crosses, and swap rates agree, big boys, right? {image}
how do you use your channel?
""TP is whatever you can get before it goes against you.""
Quoting 1dominican
{quote} how do you use your channel?
Google Super Trend indicator and how to use it, easy peasy, good luck.

How about the USD strength today vs GBP weak?

All in alignment now, from the MN Open, where will it be for the Close?

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If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step Return This Week: na
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I've created a tool that tells me the probability of price hitting it's high or low of the day for every hour of the day, based on statistics from the past year.

As I researched there was some very insightful and helpful information I feel we could apply to this system.

There's quite a few pairs who have a 30% chance or higher of being at their high or low of the day at 1700 which is the the start of the daily cycle for a lot of brokers and the one I tested. We can take these pairs and ignore the ones that don't have this level of success. This means there's a 1 in 3 chance that price will leave and never come back at the start of the new day.

I believe that's why people like this strategy because on some pairs, 1/3 trades will work, and as long as you adjust your RR accordingly you literally have a profitable system.

You can see the statistics for EURNZD. 23% chance at 1700 price will be at its low of the day. 7% chance it will be at it's high of the day. 30% total chance that 1700 will not be tested again
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Quoting MachineLearn
I've created a tool that tells me the probability of price hitting it's high or low of the day for every hour of the day, based on statistics from the past year. As I researched there was some very insightful and helpful information I feel we could apply to this system. There's quite a few pairs who have a 30% chance or higher of being at their high or low of the day at 1700 which is the the start of the daily cycle for a lot of brokers and the one I tested. We can take these pairs and ignore the ones that don't have this level of success. This...
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Quoting MachineLearn
I've created a tool that tells me the probability of price hitting it's high or low of the day for every hour of the day, based on statistics from the past year. As I researched there was some very insightful and helpful information I feel we could apply to this system. There's quite a few pairs who have a 30% chance or higher of being at their high or low of the day at 1700 which is the the start of the daily cycle for a lot of brokers and the one I tested. We can take these pairs and ignore the ones that don't have this level of success. This...
NZDCAD has a 37% chance around the same time.

Not every pair is a 1700 pair. Some have 20% or higher around the morning time on the same broker.
Quoting MachineLearn
I've created a tool that tells me the probability of price hitting it's high or low of the day for every hour of the day, based on statistics from the past year. As I researched there was some very insightful and helpful information I feel we could apply to this system. There's quite a few pairs who have a 30% chance or higher of being at their high or low of the day at 1700 which is the the start of the daily cycle for a lot of brokers and the one I tested. We can take these pairs and ignore the ones that don't have this level of success. This...
This is great, trading with a statistical probability of repeating events over the long run should yield prfitable results. I do the same with midnight open and RTH gap.
Have you coded anything else like this?
Volatility does not equal Risk
Quoting tradercartel
{quote} This is great, trading with a statistical probability of repeating events over the long run should yield prfitable results. I do the same with midnight open and RTH gap. Have you coded anything else like this?
I agree, its all a numbers game. Haven't coded anything similar really, this is the first time ive entertained a system like this.
Quoting MachineLearn
{quote} I agree, its all a numbers game. Haven't coded anything similar really, this is the first time ive entertained a system like this.
OK. I coded some statistical probability stuff on TradingView which deals with gaps. Love when I see other people do it.
Volatility does not equal Risk
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