Hi all,
In the past i have posted my charts on threads here at FF and people keep asking me what i do, therefore i decided to open a thread for it.
English is not my native language, so be carefull you get me right, i'm sorry for that.
This is a full mechanical method, i dont care big about fundamental and technical analysis. I have tried many systems and methods but i couldnt adapt them right. Same goes to indicators, so i began to study price swings/pullbacks and SR levels. In 2 years i have developed some constant price levels for the pairs i trade, they are EU,GU,EJ,GJ and UJ.
They are different for each pair and have certain distances. Price moves in steps. I have put the steps in 3 types, Mini,Medium and Major.
These are:
A. Mini Levels:
1. For EU 20 pips, begin from 1.3763
2. For GU 27 pips, begin from 1.5139
3. For EJ 40 pips, begin from 120.38
4. For GJ 40 pips, begin from 138.38
5. For UJ 35 pips, begin from 90.16
B. Medium Levels:
1. For EU 40 pips, begin from 1.3763
2. For GU 54 pips, begin from 1.5139
3. For EJ 80 pips, begin from 120.38
4. For GJ 80 pips, begin from 138.38
5. For UJ 70 pips, begin from 90.16
C. Major Levels:
1. For EU 120 pips, begin from 1.3763
2. For GU 162 pips, begin from 1.5139
3. For EJ 240 pips, begin from 120.38
4. For GJ 240 pips, begin from 138.38
5. For UJ 210 pips, begin from 90.16
I have limited time for trading so i trade Major levels on 4H timeframe. I look for candle close at a level by first touch. This means price moves up/down from a major level to next one and touches it firts time. If this candle closes above/below it I will buy/sell it at this level, sl is next lower/higher level and tp is next higher/lower level. There are 2 different entry form: Immediately after candle close or per pending order at this level. That depends on candle close, if it closes near level i put pending order. If i enter after candle close my sl would be next medium level.
Look better charts.
PS: Its not long enough backtested,i trade this way only last 2 years. My experience is something about 60%, this means i win in average 6 from 10. There will be 4-6 consecutive losses, 8-10 consecutive wins. I would like to see backtest results. It would be nice, if some of you do it.
Best regards.
Below current charts.
In the past i have posted my charts on threads here at FF and people keep asking me what i do, therefore i decided to open a thread for it.
English is not my native language, so be carefull you get me right, i'm sorry for that.
This is a full mechanical method, i dont care big about fundamental and technical analysis. I have tried many systems and methods but i couldnt adapt them right. Same goes to indicators, so i began to study price swings/pullbacks and SR levels. In 2 years i have developed some constant price levels for the pairs i trade, they are EU,GU,EJ,GJ and UJ.
They are different for each pair and have certain distances. Price moves in steps. I have put the steps in 3 types, Mini,Medium and Major.
These are:
A. Mini Levels:
1. For EU 20 pips, begin from 1.3763
2. For GU 27 pips, begin from 1.5139
3. For EJ 40 pips, begin from 120.38
4. For GJ 40 pips, begin from 138.38
5. For UJ 35 pips, begin from 90.16
B. Medium Levels:
1. For EU 40 pips, begin from 1.3763
2. For GU 54 pips, begin from 1.5139
3. For EJ 80 pips, begin from 120.38
4. For GJ 80 pips, begin from 138.38
5. For UJ 70 pips, begin from 90.16
C. Major Levels:
1. For EU 120 pips, begin from 1.3763
2. For GU 162 pips, begin from 1.5139
3. For EJ 240 pips, begin from 120.38
4. For GJ 240 pips, begin from 138.38
5. For UJ 210 pips, begin from 90.16
I have limited time for trading so i trade Major levels on 4H timeframe. I look for candle close at a level by first touch. This means price moves up/down from a major level to next one and touches it firts time. If this candle closes above/below it I will buy/sell it at this level, sl is next lower/higher level and tp is next higher/lower level. There are 2 different entry form: Immediately after candle close or per pending order at this level. That depends on candle close, if it closes near level i put pending order. If i enter after candle close my sl would be next medium level.
Look better charts.
PS: Its not long enough backtested,i trade this way only last 2 years. My experience is something about 60%, this means i win in average 6 from 10. There will be 4-6 consecutive losses, 8-10 consecutive wins. I would like to see backtest results. It would be nice, if some of you do it.
Best regards.
Below current charts.
Money is made by sitting, not trading. Jesse L. Livermore