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Great article Kamel, thank you! I’ve been trying various indicators and settings to confirm daily candlestick signal and its strength, so this is exactly it! And, yes, it is mechanical, but only if one uses it as mechanical. I will try using your system as a confirmation, i.e. if I see a valid candlestick signal, I will compare it with your template and see how it goes.
I took a position on close of the 27.06.17 daily candle on GBP/JPY all indicators were in the position for a strong trade setup and was the strongest setup out of all the currency pairs. Stop loss at bottom of candle 186 PIPS 1:1 reward. 36 hours later took profit 🙂
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If we zoom in to a shorter time frame like 4 hour candles, we could see that the pair is slowly pushing higher towards a local high. There is a small ascending triangle forming here. I wouldn’t touch it before it starts to form a more clearer pattern. However this is something that I would be interested in.
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$750.00 All Rights reserved. ZuluTrade For instance, something that many beginner traders struggle with is increasing the size of their trade only because they are hoping to make more money.
What About the Descending Triangle? If we went back in time and looked at this chart, we would see that according to our system rules, this would be a good time to go long.
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World's best forex deals and strategy Here is what the final results looked like from testing it on the Daily chart from January 2001 to September 2012.
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Media About Us Forex School Online The type of currency you are spending, or getting rid of, is the base currency. The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another.
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