Indian_Batman wrote: ↑
Fri Sep 13, 2019 1:04 am
Hiii XARD ,
I am using your setup with strict rules as stated by you in demo and trying to adapt to it.
Its a really good setup and i want to use full advantage of it , but sometime i have confusion specially when it is touching middle band
I would request you if you may post a trade setup just will entry , stop and TP(as per you its 61.8% in most case) , it will really clarify most of all of our doubts.
OK, lets take a look at the above 15 min chart of Friday's GBPCAD.
At the start of the trading day we see that we have Black Candles which means that price is in between the Signal line and the Trend line. In this case the Signal line has turned down and is Red but our Trend line is still Blue so we know that the main UP Trend is still in play (at least until Price has crossed it). During the course of the day Price did not cross the Trend line, there was NO SELL Trade (Pink Candles) so at no time would we have considered taking a SELL Trade. Basically, for the first four hours of trading we were on the side lines WAITING (Black Candles)...
Just before our fifth hour we have a nice BUY opportunity with Blue Candles.
At this point we can see that Price has not only crossed back over the Signal line changing it to Blue again but also that Price is above the Daily Open line and has in fact crossed the order BUY line. Everything visually is screaming BUY BUY BUY (our Daily background Candle is now Green-BUY, our background Ribbon is now Green-BUY, and our Candles are now Blue-BUY).
As the day progressed we see that GBP is a strong Base currency and that the Signal line showed support throughout the rest of the day as there was no change in it's colour meaning we could have held on to our BUY Trade that bit longer for bigger profits greater than the 61.8%. The Trend line was BUYS ONLY and the Signal line was saying STAY IN THE TRADE.
All the best