[Simple Trading System] Trendline Break (The Only System You Need)

[cprao]

Re: False Break0uts ...

Good observation Raghav. Got your point.

Absolutely, WAITING is the actual secret in trading business. Whereas majority people think they need a high accuracy trading system to profit which is NOT true.

Here, the information about Pinocchio Bar (Pin Bars) and observation about the breakout bar helps a lot.

FYI:
I saw a similr strategy on internet.. their name was master candle. The candle that engulfs more than 4 candles (minimum) on the right hand side.
The more it engulfs the more stroger would be the break-out to either side.
But minimum 4 candles has to be engulfed to call that as a master candle.
I have never tested or traded this strategy.. but I just thought I will throw it out here.
According to the master candle strategy, they generally play it on 4 hr candles.

 

[linkon7]

Re: :: Inside Bar Meth0d ::

Excellent....! I love your approach...! Please do continue... !

 

[vinodkiyer]

Re: :: Inside Bar Meth0d ::

here afl for Inside bar detection (yellow circle) with buy if high of ib is crossed by c previous candle and vice versa for short

 

[desifxtrader]

Gbp/usd

It seems that the this pair is getting R from 4900 level. AND, the level 4700/50 has became new S level.

Notice how R has became S at 4770.

Letz z00m out a bit ...

we see -

The zone 4750-4900 is a vital zone. Why?

Because it's as prior S level,
Physiological aspect - 4900 [double zer0s]
If you draw a trendline connecting the last two highs, you would see that there's a confluence at this level.

So, what's my plan now?

Yes, I might short it this week (prevailing major trend+confluence of factors) provided there's a favorable PA proving my opinion/expectation is correct. But that necessarily doesn't mean I cannot go long on this pair. There's sufficient reason to do so ... 4770.
I find that this pair is in equilibrium at this moment between the two close S&R levels.

 

[Fxbee]

Re: :: Inside Bar Meth0d ::

hey desifxtrader, the strategy seems very profitable and when combined with HTF would milk the pips. Thank you for sharing your setup.:clapping:
I request you to post the failed trades by this method even on 1 hrs and higher time frames so that we may get familiar with them and accept them as part of trading.Also more improvement can be done if possible.

again :thumb: thnx for sharing

Best Regards
Priyanka Jha

 

[vinodkiyer]

Re: :: Inside Bar Meth0d ::

when checked without clubbing with other studies, found about 68% hits with this method

 

[Fxbee]

Re: :: Inside Bar Meth0d ::

hey desifxtrader, the strategy seems very profitable and when combined with HTF would milk the pips. Thank you for sharing your setup.:clapping:
I request you to post the failed trades by this method even on 1 hrs and higher time frames so that we may get familiar with them and accept them as part of trading.Also more improvement can be done if possible.

again :thumb: thnx for sharing

Best Regards
Priyanka Jha

desifxtrader, also can you explain abt the stats like avg success % and Risk/Reward ratio. How many years you have been tracking the strat and is it only applicable to forex or runs nice on many other markets? I know this may sound old questions, but your insight will be highly appreciated and love to hear from an experienced trader making real money

just would have been great help if u show us the above points for our confidence and the rest of homework we have to do! no cakewalks!

:clap:

 

[deedeed]

Re: :: Inside Bar Meth0d ::

Hi desifxtrader,

Lets say we are taking a trade with IB's.

Now where do we place the stops and where do we book profits?

 

[pooravshah]

Re: :: Inside Bar Meth0d ::

take trades only in direction of the primary trend

check macd for the primary trend - if its in sell mode take only sell calls.

 

[scplindia]

Re: Swing Calls by desifxtrader

Euro has fallen quite a bit, your comments, any further fall expected