Backtesting Notes 2023-01-06 This strategy works a lot
In this back testing session I could see that the downtrend was over as soon it rejected the support (demand area) it broke the previous resistance( supply area) and created a higher low. In other words, market structure changed and we were in a uptrend. We broke the resistance many times but we never close above the resistance. However, as soon as the candle rejected the support area( demand area) and created a nice rejection wick ( meaning sells lost force) this gave me confidence to put the buys above resistance and above previous candles closes. The scale in position is basically an opportunity to put another trade doing the same for the last trade, broke previous resistance and close above it wait for the next 15 min candle close and if you see a candle with a nice rejection wick put buys above the previous close.
I put 20 pip SL and the way
I trade I close 75% TP1, 10% TP2, 15% TP3.
I put 20 pip SL and the way
I trade I close 75% TP1, 10% TP2, 15% TP3.
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