My Weekly PPS method: Under Trial

Hi everyone

I want to share a new weekly methodology of mine in the hope that others may be able to improve/evolve it with further new ideas, if any.

I say its "mine" but actually the core concepts in this methodology is nothing new at all & I'm sure most will have come across some aspect of it in various trading forums/websites.

It is basically a very simple weekly pullback strategy that uses only 3 basic indicators: Ema-10, Ema-20 & Stoch(8,3,3).

I do have a blog where I explain the strategy in detail so rather than repeat myself here, please go read about it there first:

http://easyr17.wordpress.com/my-discretion/

I am particularly interested to hear from those who trade on higher timeframes especially the weekly. There aren't many of those around as far I know.
I believe most traders here like to trade intraday & would find this strategy incredibly boring because a great deal of patience is required to trade this way.

Over time, I will post various setups on this thread as well as logging them on my blog...

Here is an example of a couple of trades that triggered in Jan & Feb 2014.

The first comes from a Shallow Pullback & the second from a Deep Pullback.

Sorry. Forgot to mention that each trade is risking 1% of Bank with a 1:2 Risk:Reward.

So for the above 2 trades on GBPUSD, I would have made 4% of Bank.

A trade that was triggered on AUDNZD but was subsequently knocked out:



Down -1% of Bank.

There may be a re-entry later on. Just have to wait & see...