1 hour counter-trend trading technique | Forex Factory

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1 hour counter-trend trading technique

  • #1
  • First Post: Dec 4, 2008 3:23am Dec 4, 2008 3:23am
This is a system using only trendlines and moving averages.

I am glad to say it works 90% of the time and the losses are very minimal.

setups:

-50SMA
-21EMA
trendlines

profit takings will be the support and resistance lines in the 1 hour.

Basically we enter after a retest from the break of a trendline.

My system is to search for huge trends and wait for counter trend to happen. It always happen and will happen because trader is trading it.

The MAs is only for reference purpose to tell me whether i am in a long or short trend. I don't use them for entry and exits!!! Do not rely on indicators!!!

Stops should be 50-100pips.

Take profits average is about 200-300 or more.

To do this strategy, i suggest having an account with 1000pips space.

As this strategy works 90% of the time, our losing trades are minimal and account should grow quite quickly.

Placing the trendlines is the hard part where many people fail to do.

I will guide u guys.
  • #2
  • Dec 4, 2008 3:27am Dec 4, 2008 3:27am
care to show an example with a chart?
  • #3
  • Dec 4, 2008 3:37am Dec 4, 2008 3:37am
what do u guys see from this graph?

a strong downtrend right?

so i am expecting a counter-trend to happen

how do i plot my trendline?

i will go into detail
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  • #4
  • Dec 4, 2008 3:44am Dec 4, 2008 3:44am
The first candle of the break must be strong and retest is obvious.....almost all traders use trendlines....that's why u see that it always work...

Find those strong downtrend or uptrend and trade the counter-trend with the retest being your entry point, your bound to be very safe....
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  • #5
  • Dec 4, 2008 3:51am Dec 4, 2008 3:51am
go on and xplayn in details pls coz i'm intrested
Before U trade, learn; after U learn, trade; and after U trade, re-learn
  • #6
  • Dec 4, 2008 3:01pm Dec 4, 2008 3:01pm
sg - you silver tongued devil - your back....
In trading, there is no bullshit. You either make money or you don't.
  • #7
  • Dec 4, 2008 8:23pm Dec 4, 2008 8:23pm
Quoting asian_sg_guy
The first candle of the break must be strong and retest is obvious.....almost all traders use trendlines....that's why u see that it always work...

Find those strong downtrend or uptrend and trade the counter-trend with the retest being your entry point, your bound to be very safe....
It will be more interesting if you can show the print screen graph from on going bars before the entry and your prediction, not from past datas when all the bars already form.
  • #8
  • Dec 5, 2008 8:05am Dec 5, 2008 8:05am
Yea! Show us the setup BEFORE! Or is this the Hindsite technique?
FF = Forex Faggots
  • #9
  • Last Post: Edited Dec 24, 2008 3:56am Dec 23, 2008 11:24pm | Edited Dec 24, 2008 3:56am
Quoting asian_sg_guy

I will guide u guys.
with 2 years under your belt you are now ready to guide and teach, I am impressed!

I have read all your threads in the recycle bin and your idiotic broker harassment.

After all this, i have come to this conclusion. ...please see below............
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