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!
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!