Hello traders!
After working on this system for 2 weeks I started to trade this system on DEMO account. I've been trading this system on DEMO account for about 1 month. I call this system T100 because I usually make 100 pips a week. Sometimes more, sometimes less. At first I wanted to make this strategy for 5 min time frame but than I found out that on 5 min time frame are to many false pivot lines breakouts. Than I tried it on 15 min time frame and it worked out pritty good. Pair is EUR/USD but should work well on GBP/USD and others too.
So anyway here are the things you're going to need:
Time frame:
15min
MA's
2 EMA, shift 2, apply to close
21 EMA, shift 0, apply to close
9 EMA, shift 0, apply to close
MACD
Settings 5.13.1
Pivots
Enter long:
MACD candle closes showing up move
Price bounces off 21 EMA or somewhere inside 9 and 21 EMA
Candle started above 2 EMA
Risk:Reward Ratio is at least 1:1.5
Enter short:
MACD candle closes showing down move
Price bounces off 21 EMA or somewhere inside 9 and 21 EMA
Candle started below 2 EMA
Risk:Reward Ratio is at least 1:1.5
Profit:
Set your take profit few pips above/below first pivot line.
Sometimes price cannot get to that level so when 65% - 75 % of profit is hit, set Stoploss to +10 pips. If R:R is very good for you don't try to take all you can. Just set R:R to 2.5 or 3:1 If you found something else working better than good for you
and tell us.
Stoploss:
Place your Stop lose below the lowest candle of the bounce area. If price bounced off 21 EMA and some pivot level place price at lowest/highest place - pivot level or high/low. If there is a very big difference between pivot level or bounce area set it somewhere between them or at level that is better for you.
If price has been in a flat or fighting with a pivot level don't try to get in first deal. Let it go without you.
Hope to hear comments - good and bad.
BTW I trade from 8:00 to 21:00 +3 GTM
Regards
After working on this system for 2 weeks I started to trade this system on DEMO account. I've been trading this system on DEMO account for about 1 month. I call this system T100 because I usually make 100 pips a week. Sometimes more, sometimes less. At first I wanted to make this strategy for 5 min time frame but than I found out that on 5 min time frame are to many false pivot lines breakouts. Than I tried it on 15 min time frame and it worked out pritty good. Pair is EUR/USD but should work well on GBP/USD and others too.
So anyway here are the things you're going to need:
Time frame:
15min
MA's
2 EMA, shift 2, apply to close
21 EMA, shift 0, apply to close
9 EMA, shift 0, apply to close
MACD
Settings 5.13.1
Pivots
Enter long:
MACD candle closes showing up move
Price bounces off 21 EMA or somewhere inside 9 and 21 EMA
Candle started above 2 EMA
Risk:Reward Ratio is at least 1:1.5
Enter short:
MACD candle closes showing down move
Price bounces off 21 EMA or somewhere inside 9 and 21 EMA
Candle started below 2 EMA
Risk:Reward Ratio is at least 1:1.5
Profit:
Set your take profit few pips above/below first pivot line.
Sometimes price cannot get to that level so when 65% - 75 % of profit is hit, set Stoploss to +10 pips. If R:R is very good for you don't try to take all you can. Just set R:R to 2.5 or 3:1 If you found something else working better than good for you
and tell us.Stoploss:
Place your Stop lose below the lowest candle of the bounce area. If price bounced off 21 EMA and some pivot level place price at lowest/highest place - pivot level or high/low. If there is a very big difference between pivot level or bounce area set it somewhere between them or at level that is better for you.
If price has been in a flat or fighting with a pivot level don't try to get in first deal. Let it go without you.
Hope to hear comments - good and bad.
BTW I trade from 8:00 to 21:00 +3 GTM
Regards
