DislikedPlease re-read the 2 block posts again and understand the text in relation to the lines drawn and the way they line up on the MTF indicator on two TF's first.Page 144 posts#2150 and #2151
Ask your self???
Q1. What time frame in the 30-5 (2xblock system) are you trying to trade?
Q2. What time frame are your entry signals from?
Please post a chart with this 2 block system first.
ThanksIgnored
I will be using the 60-15-5 (3 x block system). It affords me a greater degree of comfort after testing both systems. I am trading the 1 hour timeframe, and entering the trades on a 5 minute chart as per the instructions presented throughout this thread. I also use the 240 minute chart as a final confirmation tool to tell me if I should let profits run. Stop loss is placed at the low of the last fractal prior to the signal if buying and vice versa if selling. Take profit is a minimum of a 1:1 risk/reward ratio. How far away is my stop loss? Thats my take profit at a minimum or at next major support/resistance level (determined by daily pivot points and fib levels). Today was my first day using this system after 3 weeks of detailed research and following every instruction by Gleneagles, Indrek and others. I just needed to clarify the entry point. Thank you.
fxpilot