Hi,
I have been observing the market recently on the 1 hour chart and I have found something intresting , using the concept of bulls and bears in the same direction and minimum of 100 bulls or bears depending what way your trading , i look for an entry on the pullback 1/3 of the way on the candle close , i look for a maximum of 30 pip candle , anything above that i avoid, i would look for a 10 pip retrace candle close of that candle to enter and exit with 15 pips
any candle above 20 pips i use 30 pip stop loss, any candle under 20 pips use 20 pips stop ,
the problem is you need to give the trade room to work
and the price will not always go for = your stop , best to take what you can get from the market wilst giving your trade room to work
anyway, let me know what you think , we can work on this together:cool:
I have been observing the market recently on the 1 hour chart and I have found something intresting , using the concept of bulls and bears in the same direction and minimum of 100 bulls or bears depending what way your trading , i look for an entry on the pullback 1/3 of the way on the candle close , i look for a maximum of 30 pip candle , anything above that i avoid, i would look for a 10 pip retrace candle close of that candle to enter and exit with 15 pips
any candle above 20 pips i use 30 pip stop loss, any candle under 20 pips use 20 pips stop ,
the problem is you need to give the trade room to work
and the price will not always go for = your stop , best to take what you can get from the market wilst giving your trade room to work
anyway, let me know what you think , we can work on this together:cool:
(Share) Catch The Turn
