Forex trading strategy #12 (3 white soldiers / 3 black crows)
Submitted by User on May 26, 2009 - 19:32.
Submitted by trader.
Very Simple system - simply look for 1 of 2 candle formations at or near the bollinger band (in this case the default 20)
You are looking for either 3 consecutive bulish candles for a buy, 3 consecutive bearish candles for a sell - that's it!!! - 3 white soldiers / 3 black crows formations
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Any Confirmation indicators for this trading system like Stochastic/MACD besides Bollinger Bands ?
Sincerly;
Manus168
Hi Manus168,
I've been returning to your question for 3 times in the past few days, but so far haven't come up with a useful idea.
For conservative entries, look to trade on the upside breakout above the 3 white solders formation, below - for 3 crowns. Other than that, I have no advice so far. Sorry about that.
For more aggressive entries with market orders, look to switch to a lower time frame, where catch a momentum with Stochastic indicator as it produces a lines cross favoring your trading direction.
Regards,
Edward
This looks promising on backtesting. Have been dummy trading and its consistent. Wonder what you'd found to be the best exit strategy?
Thank you for your feedback.
For exits, try this one:
http://forex-strategies-revealed.com/money-management-systems/cci-exit
Best regards,
Edward
Hello,
thank you for your ideea. Please tell me where do you fix your stop loss (risk) after you enter a trade based on three white soldiers or three black crows ?
thank you,
Lucretiu
I'd set is behind the last soldier/crow.
Best regards,
Edward
Simple and logical. Thanks for the information
hai,
iam a newbie, thanks for strategy..
so GOOOOOOOOOD for the beginer like me!!! ;)
best regards,
3pip30usd-RM105sehari.
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