Pin-Pointing Few of Reversals Accurately! | Forex Factory

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Pin-Pointing Few of Reversals Accurately!

  • #1
  • First Post: Edited 7:16pm Mar 4, 2014 4:57pm | Edited 7:16pm
Hello Traders!

This is my first ever thread on Forex Factory. My hobby is looking at charts for new ideas I am not that creative like most of you here. Like most fellow traders desperately want to pin point every reversal that happen ! Hahahahaaa...... We can still become rich if we are able to predict very few of reversals very early in fact pin pointing them.

Short :
Now coming to the point. While looking at the charts with "Heiken Ashi" and "Bollinger Bands" both (default settings) I found it very interesting that when HA (Heiken Ashi) Red touches the Upper BB (Bolllinger Bands) which is very rare we get a solid signal and logic to Short it !

Long :
And when a Green HA candle touches Lower BB we are told by price action to Buy it.

Stop Loss :
A few pips above/below the latest swing high/low. But your opinion is needed here.

Take Profit:
Yet to be decided. Your thoughts????

Entries will be triggered after bar close when a Green or Red HA Candle has been locked and confirmed.

Is it really that simple ?
May be not so. We do get stopped out many times and when we do we should change our mind and after being stopped out we should take the opposite trade that is if we were long and stopped out we should short now immediately.

As I talked it earlier that this scenario is very rare on charts for this very reason we should focus more on least possible time frames to trade this as by doing so we increase the frequency of our trading.

I am not a good trader by any means and I am open to criticism for improving this system.

I request all of you to just open your charts and look for the above explained scenario and do let us know how this idea has worked in history and do input your valuable opinions as well.

We should respect each others that is the only rule for this thread. We are genius when we are together!
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  • #2
  • Mar 4, 2014 6:12pm Mar 4, 2014 6:12pm
You should have a standard chart without HA next to yours. I think you'd see that you don't know the candle that touches the lower BB is green until it closes. When it closes price is already far away from the BB so your entry wouldn't be anywhere near the lower band. Same thing with red HA @ upper band.
I haven't reviewed so just my thoughts with a 1 minute review :-)
Good luck!
  • #3
  • Mar 4, 2014 6:35pm Mar 4, 2014 6:35pm
Quoting awan0454
Hello Traders! This is my first ever thread on Forex Factory. My hobby is looking at charts for new ideas I am not that creative like most of you here. Like most fellow traders desperately want to pin point every reversal that happen ! Hahahahaaa...... We can still become rich if we are able to predict very few of reversals very early infact pin pointing them. Short : Now coming to the point. While looking at the charts with "Heiken Ashi" and "Bollinger Bands" both (default settings) I found it very interesting that when HA (Heiken Ashi) Red touches...
You are a newer trader. Here is some advice. Stop looking at hindsight charts, it is a waste of your time. Start looking at charts in real time. If you do that, you will see the fundamental flaw in your first post.
If you are good at something, never do it for free--Joker
  • #4
  • Mar 4, 2014 6:40pm Mar 4, 2014 6:40pm
Quoting jmn5611
{quote} You are a newer trader. Here is some advice. Stop looking at hindsight charts, it is a waste of your time. Start looking at charts in real time. If you do that, you will see the fundamental flaw in your first post.
I don't get it would you please correct me?
  • #5
  • Mar 4, 2014 6:52pm Mar 4, 2014 6:52pm
I forgot to mention that our entry will be triggered after bar close. When a red or green HA candle is locked.
  • #6
  • Mar 4, 2014 7:01pm Mar 4, 2014 7:01pm
Quoting awan0454
{quote} I don't get it would you please correct me?
Sure, start a TE so that we can monitor your trades and then we can comment on them. It is the only real way to get good data. People who claim to have a system that works and do not have a TE to back that up are running threads to stroke their egos and nothing more.
If you are good at something, never do it for free--Joker
  • #7
  • Mar 4, 2014 7:05pm Mar 4, 2014 7:05pm
Quoting jmn5611
{quote} Sure, start a TE so that we can monitor your trades and then we can comment on them. It is the only real way to get good data. People who claim to have a system that works and do not have a TE to back that up are running threads to stroke their egos and nothing more.
Well bro its nothing to do with ego. I mentioned earlier that I am not a good trader at all I have already blown two of my real account and for me they were lot of money.
I spotted a thing just yesterday and shared it with you guys and this thread is my first one. I have been member of FF since Dec 2009 and I have never posted just because i did not come up with something creative. What I thought might be of worth to other traders I shared it and that is what FF is meant to be.
  • #8
  • Last Post: Mar 4, 2014 7:25pm Mar 4, 2014 7:25pm
Quoting awan0454
{quote} Well bro its nothing to do with ego. I mentioned earlier that I am not a good trader at all I have already blown two of my real account and for me they were lot of money. I spotted a thing just yesterday and shared it with you guys and this thread is my first one. I have been member of FF since Dec 2009 and I have never posted just because i did not come up with something creative. What I thought might be of worth to other traders I shared it and that is what FF is meant to be.
Sorry awan, I was not talking to you directly. I was speaking in general, but the advice remains the same, start a TE, that way you can get a group of traders to analyse what is good and what is bad.

Sorry if I came off as attacking you.
If you are good at something, never do it for free--Joker
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