This is not a holy grail. Not that I need to tell you... Nor is this a new system. In fact, there was a thread previously on this forum dedicated to this approach but sadly it has disappeared in the mists of time. It did however have lots of useful information in it and I hope we can replicate that here. The original thread was titled something along the lines of "40-100 pips" and detailed a system which I believe previously came from a book. I've not managed to find what book it was in so cannot offer credit where it's due but if you happen to know feel free to mention the author here.Below are the rules of the system as I plan to use them (at the time of writing, I may well alter them in time as the market changes) but feel free to adapt them to your own taste.Pair: Cable (GBP/USD)Timeframe: 15 minHours: 7am - 4pm GMT (i.e. UK Session)Stochastic setting: 8,3,3Entry signal for longs:Price and stochastics have previously been falling, fast stoch crosses slow stoch upwards below 35 and an inside bar is printed on the chart. Entry is on the break of the inside bar, stop at the other end of the bar. If price breaks the low of the inside bar before triggering the trade then it is abandoned. Entry signal for shorts:Shorts are the reverse formation. Price and stochastics have been rising, the fast stochastic crosses down under the slow stochastic which occurs above 65 and an IB closes on the chart. Entry is on the break of the low of the IB, stop at the high.See attached chart for an example.Exits:At your discretion. I'll be targeting a minimum 1R but feel free to backtest your own trade management ideas.Feel free to join in below either with discussion on the original rules or indeed any amendments that you find personally fitting. I'll be posting potential trades as and when I see them.
Attached Images
GBPUSD IB Stoch May.png (9.1 KB, 158 views)
ليست هناك تعليقات:
إرسال تعليق