SwingHigh-SwingLow-Fractals-Break

[junglist00]

I am currently looking at trading this for pairs GBP/USD and EUR/USD .... 2am - 8am est ... should work for other pair however ideal trading times would have to be determined

Add settings to chart and see if a pattern is present ... devise your own trading strategy ....

 

Timeframe - H1 or Daily

Smoothed MA - 3, 7, 10, 14

RSI - 21 (levels 35, 65)

Fractals - (default)

Optional - Daily pivot

 

I understand that indicators are lagging, however they are mainly there for visual confirmation for trend - overbought/oversold ...

 

currently using on FXDD charts ... gmt +3

if someone is willing to create ea would really appreciate it. then we can discuss entries/exits/trading time

Edited August 31, 2010 by junglist00

[junglist00]

TP - 20

SL - 20-30

 

Goal 1 trade/day for each pair (GBP/USD , EUR/USD) off the 1H chart ...

[junglist00]

after seeing a whole bunch of pips left on the table i will add the following, if already in a trade, new release pending for pairs ... 1. accept 30 pip risk for potential of bigger profits and remove TP ... stay in trade OR 2. move stop to break even and remove TP .

[junglist00]

Hi

I am curious to know whether anyone have attempted to trade with the indicators(setup) i presented. Additional pair USD/CAD

*****

basic strategy ....

Long

# 3 MA cross up

RSI crossing up or above 50 line

enter 2 pips + spread above last swing high fractal ...

 

Short

# 3 MA cross down

RSI crossing down or below 50 line

enter 2 pips below last swing low fractal ...

 

don't enter trade if RSI above 65 or below 35

 

trading time between 2am - 10am est (H1 trading)

have not traded D1 as yet.

 

hope this helps