testing my alogo signal for Gold. This Double Top makes me cautious of a BUY. Also the algo has won the last 10 trades and usually has 8 trade win before a loss. Either way Ill take the signal. This signal was on a 5m chart but TV wont let me post the low TF idea.
Candle pattern with 3 bar exit or 0.7 ATR. This patttern preety accurate during RTH
I anticipate buys to fill the wick off trend line support
If this candle closes engulfing bearish w/40-50% bottom wick I will take sells to fill wick for scalp. and TP2 at LOD.
price tried to BO the range to the down side but next candle closed back in the range. I anticipate at least price to fill the wick. I entered late @4070.1 SL 4047.6 TP partials at wick +
Gold closed below range. I anticipate a wick fill. Scalp
Here is a brief description of some my strategies I use. Im still in the development phases. So please dont blindly follow what I do. Test them to see if they work for you. I dont mind sharing publicly because it helps me too with my psychology and overtrading. I dont want to look like a fool so I try to pick only the clearest setup. Thanks guys.
Price dumped start of Asia. Entered 1/2 position @1828.7 close of the big bear candle. Set a sell limit at 1831.36 for other 1/2 position. SL 1833.86 TP +1r
If we can get any Bear candle to close below the previous Bull candle I would look to enter short. SL would be above the Bear candle high. TP would be +1r
Price crossed and closed below 34 ema baseline. Aroon/SSL/200ma all bearish but not 100% volume so entered only 1/2 size. 1x ATR tp 1.5x ATR sl. Take half off at 1x ATR and let other half run. If at anytime the price crosses and close above 34ema exit the trade.
If AUD breaks and closes below channel with at least 100% volume go short on the close with 1x ATR tp and 1.5x ATR sl. If price reverses and closes back in the channel, exit the trade. If first tp is hit take half off and move sl to break even. trail the stop if other half of trade continued to move in our direction. (*75%-99% average volume trade only 1/2...
If NZD breaks and closes above channel with at least 100% volume go long on the close with 1x ATR tp and 1.5x ATR sl. If while in the trade and price reverses and closes back in the channel, exit the trade. Take half off at 1 ATR and move sl to break even. trail the stop if other half of trade continued to move in our direction. (*75%-99% average volume trade...
If EUR breaks and closes above channel with at least 100% volume go long on the close with 1x ATR tp and 1.5x ATR sl. If price reverses and closes back in the channel, exit the trade. If first tp is hit take half off and move sl to break even. trail the stop if other half of trade continued to move in our direction. (*75%-99% average volume trade only 1/2...