Hi I would like to introdice a system that I have had good success with in the past couple of weeks. Trading is done on the EUR/USD pair in the US session from 14:00 gmt+1 to 21:00 gmt+1. I don't use candlesticks for this system. Instead I use a line HL chart on the 15m timeframe. The strategy is to open a position when a 15m period closes above or below the most recent high or low.
Here is an example. On the chart the most recent high and low is at the blue horizontal lines.
http://i479.photobucket.com/albums/r...Unavngivet.jpg
15 minutes later a 15 minute period closes below the latest low/support so I sell and set the target to 8 pips.
http://i479.photobucket.com/albums/r...avngivet-1.jpg
Less than 15 minutes later I have earned 8 pips. green line = close position.
http://i479.photobucket.com/albums/r...avngivet-2.jpg
I usually don't use a stop loss. Instead I am watching the screen and close positions manually if I get a signal in the other direction. IF I have had a loss then I will increase the target. I have had good succes withy this strategy in the past 2 weeks.
Any constructive criticism is welcome.
Here is an example. On the chart the most recent high and low is at the blue horizontal lines.
http://i479.photobucket.com/albums/r...Unavngivet.jpg
15 minutes later a 15 minute period closes below the latest low/support so I sell and set the target to 8 pips.
http://i479.photobucket.com/albums/r...avngivet-1.jpg
Less than 15 minutes later I have earned 8 pips. green line = close position.
http://i479.photobucket.com/albums/r...avngivet-2.jpg
I usually don't use a stop loss. Instead I am watching the screen and close positions manually if I get a signal in the other direction. IF I have had a loss then I will increase the target. I have had good succes withy this strategy in the past 2 weeks.
Any constructive criticism is welcome.
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