DislikedYes, that's correct.Ignored
Didnt expect such a prompt reply over the weekend haha. Have a carefree weekend until the 4 hourly breastfeeds. At least thats what my family calls them!
Thanks for the advice on the weekend closing. I have 1 more query so it would be great if you can clarify it. Candle 5 was a set up to go short. Candle 1 was the set up to go long. Candle 2 & 3 were failed reversal bars so Candle 4 becomes the new set up bar. Lets just disregard the 50% rule just for this example. My question is lets say the Candle 4 is the last candle on friday just before weekend begins. When Monday comes, it the candle opens above high of candle 4 + 8 pips, we will go long. [color=Red]If the candle opens below this buy...Ignored
DislikedWith which price we open short in situation like that ?
1)order sell with markets price
2)pending sellstop with low from candle 4
I think its if the Monday opening candle is anything below the trigger buy price (high of candle 4 +8 pips), we will just short at the opening price when the market opens.Ignored
DislikedOne question for stersuhr or his cousin (I've seen someone post that he is) is that if you were using this last year, did Dec provide any supprises due to number of people off on holliday and not trading ? (lack of liquidity)Ignored
DislikedI'd like to congratulate stersuhr for presenting this method in such an explicit and descriptive manor and cudo's to all those that have been helping others to understand it.
Like others, I've found this to be a great read over the last couple of days.
I've been looking over several methods these last few of months and this is one of the best. My use of this in a simulator seems quite productive so I'm looking to forward to seeing some results of real time testing during the next few weeks.
One question for stersuhr or his cousin (I've seen...Ignored
DislikedOk guys, thanks for letting us know. I't might be that we get more volitility which should equate to more opportunity to profit. I would almost think there are enough traders around the world to not make liquidity an issue like I've seen in US commodity markets. Just thought I'd ask.Ignored
DislikedIt should be at 1.4800 I believe as well as a sell stop as we don't add spread to short orders / stops under candles- Just 5 pips.
You should also place a Stop loss for the pending sell above the high of that setup candle 5+ spread which would be 1.5055.
Edit: Looks like Kristo gave you the right answer above as well before me-Ignored