It's only taken seven years folks but here it is,the ULTIMATE SYSTEM,it can be traded on 1hr or 4hr charts.
Here are the RULES.
#Only trade in the direction of the trend i.e long if trend is up or short if trend is down.If price starts in the bottom left hand of your chart and climbs to the top right hand of your chart then the trend is up....ROCKET SCIENCE.Conversely if price starts in the top left hand side of your chart and descends to the bottom right hand side of your chart then the trend is down.....more ROCKET SCIENCE.
#The first point of our trend line is indicated by a swing low or high,the second point by a consecutive swing point.We draw our trend line between these two points.
#Entries are triggered on the next bar after the second point (providing the bar doesn't break the TL by more than 35 pips)or the next 4 bars.No entries are made after the fourth touch as a stop out is very likely.
#Stops are set at 11 pips plus the spread above or below the trigger bar (gives a 73% success rate).
#Ideal trades are those where the bar that tests the TL are PA bars i.e Pin bars.Out side bars etc.
#Stops go to BE when 38 pips in profit.
#Profit taking is discretionary.
There are further details to this system that are proprietary and that is why I've posted in the commercial section....there is a price to pay folks!!!
I've been trading this for 5 years very profitably.
I'm off for a ski....good day for it.ENJOY.
Here are the RULES.
#Only trade in the direction of the trend i.e long if trend is up or short if trend is down.If price starts in the bottom left hand of your chart and climbs to the top right hand of your chart then the trend is up....ROCKET SCIENCE.Conversely if price starts in the top left hand side of your chart and descends to the bottom right hand side of your chart then the trend is down.....more ROCKET SCIENCE.
#The first point of our trend line is indicated by a swing low or high,the second point by a consecutive swing point.We draw our trend line between these two points.
#Entries are triggered on the next bar after the second point (providing the bar doesn't break the TL by more than 35 pips)or the next 4 bars.No entries are made after the fourth touch as a stop out is very likely.
#Stops are set at 11 pips plus the spread above or below the trigger bar (gives a 73% success rate).
#Ideal trades are those where the bar that tests the TL are PA bars i.e Pin bars.Out side bars etc.
#Stops go to BE when 38 pips in profit.
#Profit taking is discretionary.
There are further details to this system that are proprietary and that is why I've posted in the commercial section....there is a price to pay folks!!!
I've been trading this for 5 years very profitably.
I'm off for a ski....good day for it.ENJOY.
