Urban Towers Scalping Strategy

eurgbp

hi Carllos, on this one i skipped it as the bar closed below the rainbow which means change of trend

i took the first one is at BE. I didnt take 2nd one as 1st is not closed yet.

this came at fag end of US session

Hi folks...

It's great to use rainbow mma indy, but you can also plot a 20-period smoothed moving average on your chart.


Cheers !

euraud

I prefer a more clear V shape before entering the trade. V shape on a downtrend is a clear sign of take profits before continuing the trend.

keep up

Just stopping by to wish everyone a Merry Christmas and a Happy New Year.


- Navin Prithyani

Nice trade on the USDCAD 1 hour chart.

I was able to hop into other pairs as well. I'll attach the statement shortly.

- Navin Prithyani

Attached is the trade result for the trades entered using the Urban Towers.
Closed for a total of +350 pips today.

- Navin Prithyani

You all show honest trades by showing losses, not just winning trades as posted in most threads. More is actually learned from losses than wins.

Keep up the honest work!

Added Rainbow MMA_05 and MMA_06 for easy trend identification. Green on top of red uptrend green under red downtrend. Easy to spot the rainbow flip indicating medium to long term investors on board with trend. Easy to recognize pullbacks and trend change. Same Urban Towers Scalping Strategy entry rules. The additional rainbows just add visual for me.

I sometimes trade the bubble when the trend is in place and price moves higher. Not part of this system and do not suggest for the new trader.

Regards
Cigarguy

this is a great strategy.

i am thinking of using this on 15m, 1h & 4h.

15m, tp/sl 20 pips.
1h, tp/sl 80 pips.
4h, tp sl 200 pips.

just hard set values.

just set and go to sleep.

i think 4h would be the best, as long as you can handle the drawdown. 15m would be the least preferred. probably 1h is the best mix of everything (drawdown acceptance as well as nullifying the spread so it's pretty much a 50/50 game)

Only got 10 pips out of this great move. My internet went down!! Possible about 63 pips. When the rainbow constricts as indicated on the chart, a big move is indicated in either direction.

Had to close telephonically.

Regards,

Cigarguy

yr entry is not as per rules. the last red candle closed below rainbow.

and ran through rainbow, I know, but starting running on lower t/f's and jumped in anyway! Observing consolidation of rainbow and A feel for the currency helps among other things.

I´ll be posting EURUSD only tomake things easy.
Lets all just count pips, ok?

not all the trades posted here are my actual trades. I´ll just post the per rules trades that happen during EURUSD M15. After 6 months we can all judge if its worthwhile or not. ok?

with every post i´ll SUM the number pips so we can do the maths more easily.

Is that fair enough?

Jan 3: +26 -8=+22
Jan 5: +12 +54=+66

2011 total: +88

I took the later trade Carllos

Not enough breath for me there.. Nice trade though

Will bear that in mind Carllos, thx

missed tp by 0.1 pip, so -8 after tightening stop due to nasty pin candle.