Simple and profitable trading style

Even after moving away from the oversold area and makes a great bullish trade, middle pose a great challenge. Middle band always acts as a potential support/resistance. We can see it in EURAUD, long and USDCAD long i shared earlier.

Am still riding NZDJPY long. No game changer, fundamentals or technical

Finally the last EURAUD long triggered my SL

We can see what middle band can do. It returned the bullish trade with stochastic I shared, triggered my SL and the went bullish. I have seen that the strategy requires big stop loss and small lot size.

Am still staying with the strategy- stochastic oscillator

Staying long with it I will be able to finally judge how reliable the strategy is. The strategy is that when stochastic is oversold and there is a strong support. Breaking is great setup. What am backtesting is the failure to break it. It has earned good profit on my bullish trade on CADCHF, and still working on CADCHF short. Yet the strategy triggered my EURAUD. We win some and loose some. That's Forex

I will keep reporting the setup- success and failure

The USDCAD that triggered my SL before bullish. It was returned by the middle band

If EURAUD goes bullish after it triggered my SL, I will be baktesting with wider SL.

NZDJPY is forming a strong Dragonfly/Pinbar, which means a bullish continuation. It's strongly rejecting the lower band. How will today market close? No one knows.

The more positive point is that it failed to break the 80.439 support level while stochastic was oversold.

Am not taking any position because I already have four positions running on the pair. I just hope that the Dragonfly closes well today. If it does it may end up breaking the strong resistance that had been proving stubborn.

Most often Dragonfly/Pinbar move accordingly. If it succeeds to close with bullish body, then we have more reliable bullish trade setup.

Even though I don't take position on 4hr, I decided to check what the hour is doing. There was already a bullish engulfing pattern formed. This was strongly supported by bollinger band lower breakout.

If the pair closes so well I might jump in, using the resistance to get out, then leave the other four positions still open. I might increase lot size here since am getting out early- over 200 pips

See you latter friends, in case there is any change am making- hope I remember to post again.

I got in yesterday NZDJPY when I found that it closed so well after market close. I used bigger lot size, because I will be getting out using the previous resistance.

Additional and positive point about the setup was the fact that it was formed on a strong uptrend.

For those who have been following us here, there is another trade on using thhe weekly middle band and the daily upper band on AUDNZD.

The bulls have been scared of the upper band daily,while the weekly closes above middle band. This time the bulls are taking it up to the upper band. I hope the day closes well. I may not take because of NZDJPY bullish trade. But I will have in in my trade journal and see how it goes.