Advanced system #6 (Picking Tops and Bottoms)
Submitted by Edward Revy on July 15, 2007 - 07:29.
Were you told not to hunt for tops and bottoms when trading..?
Why not break the rules when you can tell with an astonishing precision where the next top or bottom will be?
Here is one very nice and accurate trading system that could make your Forex trading entirely about hitting the right spots.
Trading setup:
Time frames: 5, 15, 30 minutes, 1 hour, 3 hour and 1 day – just one chart at the time will be used.
In case you do not have the exact time frames, simply substitute them with the closest ones. For example, 15 min can be changed to 10 min, 3 hour can be changed to 4 hour etc.
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why not try it yourself?
Your results might be different from others.
Really Good strategy. But how do I spot if the market is oversold or overbought.
Sometimes the pair may be clealy on divergence and a signal show against the divergence, please could someone help on how to handle such trade.
Udom.
Hi Udom,
You have just answered your question. When you see a divergence - it is a warning for you to watch out for reversal. I wouldn't trade against a clear divergence signal.
Thomas
I cann't understand the logic behind the use of higher time frame with ADX > 30.
Why cann't we use a fixed one to work with?
We screen all time frames to find the best/strongest trend.
Using one ADX on a fixed time frame is fine too, absolutely, you'll just be waiting for the opportunity to come to you on your time frame while we hunt for the opportunities across multiple time frames.
Best regards,
Edward
This is a nice complement to my RSI14 reversal strategy. I am a 10 pip scalper using
Hi Edward, your site is super, whitout this I`d be sunk in the sea... but now am trying to survive jajaja
I also want to thank a user called PANI, for the comment about charts on FXCM, really surprising to know as easy is put the 3 hours or any-time charts!!!
Your knowledge let us get some more in between us, more to thank you Ed!!
Sazu. Mexico
Thank you, Sazu!
I'm really glad you're becoming a better swimmer in these challenging Forex waters.
Keep it up! The more you learn and practice the better you trade.
Best regards,
Edward
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