Peaks and Valleys (Trading Naked)

hello all,

i'm quite confused about this technique.

First of all, you place PO (if at the peak) +5pips from the pip in buy position?

and the other way around for valley? is it?

Too bad...I've been stopped out from this trade before the big down move...

I took the time to read this thread over the weekend. I put this to work last night and today. I am up over 150 pips for the day. This is so simple and works like a charm. Thank you for providing clarity and simplicity in trading.

E, which TF are you using and which pair(s)?

I used the 1 hr and the pairs were the eurusd, eurjpy and gbpjpy. Put two on last night before I went to sleep and had 3 others this morning.

Sweet. Good job! Have you been using the 50-pip stop recommended at the beginning? I'm still wondering if that is sufficient for the hourly TFs; I know when I looked at it before it seemed inadequate for the 4H.

I have been using the 50 pip stop. However, I am also looking at the 50 and 200 sma's and pivots. If I need to go below or above, then I set it more.

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so basically we use peaks and valleys as breakouts not as reversal as i always thought

thnks for the great system , will post my trades and results here

Hi all,

Thanks for this great thread. It really open up my mind but i still have some question on how i should trade based on peak and trophs method.

Attached with the GU H4 and my question is:

1. Should i short on P1, P2 and P4?
2. Should i long on P3?


Any advice will be appreciated.


Thanks in advance.

SOmeone could help me???
Peaks & Valleys are made by Close line of 4H bar or Median Price 4h bar ????
Tnx

doesn't matter, in fact i suggest u just use a regular OHLC or candle chart. Take the obvious ones, its really that simple.

But if i use OHLC Bar peaks&valleys are made by LOW & HIGH....and there is a big distance by close in terms of pips.......

I don't understand.....

You are referring to those tails ? Those are big information my friend. Although in it's purest form, you can use average prices or close prices, my approach is that observing those tails on the chart can give you a better feel of the action. Use both, try pulling out a bar chart and plot a 2 period SMA, you get best of both worlds.

OK i will try! Tnx for your point of view!

A blind monkey could have used this system to make a killing this week. What a market.

This is just peaks and valleys on 15 minute e/y over the last 24 hours. Ive used a 12 ema, but that's pretty irrelevant.Count the pips. Stops can either be behind prvious p/v or a set number of pips.

I thought I would post some charts of the way I trade and I thought this thread would be as good a place as any. I mainly trade EJ and enter off a 15 minute chart. I use a 35 pip stop and 2% of my a/c on this pair. I figure if it retraces more than that, then it wasn't such a great trade to start with anyway. I enter on a 1-2-3 break. I enter 3 pips past point 2 to try and stop the false moves which sometimes happen as price will move 1 pip beyond then retrace. No set amount of pips is perfect but I am comfortable with 3 . I first start off by looking at the higher timeframe sup/res and either go in the direction of the 4 hour highs and lows,(by this I don't mean candle patterns as there can be a different looking candle depending on when you broker starts his 4 hour cycle,I mean what looks like a high and low to ME, i.e. discretionary) and drop down to the 15 minute chart and enter on that, OR, enter on a 15 minute chart at major sup/res,i.e G/U at 1.50 or E/U at 50% fibo. I set 1/2 of my position with a TP of 100 pips and trail both 1/2's up behind the peaks and valleys.I don't move my stop until another valley has formed. That means, say I'm long, that another 1-2-3 has occurred and point 2 is taken out.This allows me to catch a good move plus take profit. Ill post some charts.The lines and arrows are my entries and the "X"s are my trailing stops.

London open

NZ last night