Hello Everybody
I read the favorite strategy
A couple of weeks ago. I've found a new 8 strange candle patterns that happens one time each day and it helps you to make at least 10 pips a day trying the method on 15 Pairs means 15 trades a day and 75 trades every single week!
so let's get started !
first of all. you don't need any indicators to apply. a clean chart on H4, D1 Time is enough (with a cup of coffee)
now let's take a quick look at the new patterns :
a little bit strange right ?. no problem , i will clarify everything now
Entry Rules :
NOTE* : before you try to trade these patterns, keep in mind that your entry will ALWAYS be on the 9'th candle each day
1 : once the 9'th candle is opened , check back for the last 3 candles and match the patterns with the picture above
2 : open a trade according to the picture and set a 10 pips TP and 10 pips SL (remember your SL level , you'll need it later)
3 : set a opposite pending order with x2 or x3 of your initial lot size and 10 pips TP and finally set your SL Below/Above your initial trade SL + 5 pips
4 : if your initial trade hit the TP then cancel the pending order
NOTE* : the main reason behind setting a pending order is that if the pattern hit your SL , it will move strongly the same way. so setting a opposite pending order will cover the losses and gain a profits
entry examples with pips calculation :
The same level of the SL of the first order? Or at the High / Low of the previous candle
If out of the first 3 candles at least 2 candles are blue it is buy at the opening of the 9th candle and if out the first 3 candles at least 2 candles are red, it is a sell at the opening of the 9th candle. Hope, I got you right?
EA back-tests would quickly prove or disprove the expected long-term profitability and safety of this clean Price Action strategy.
I read the favorite strategy
A couple of weeks ago. I've found a new 8 strange candle patterns that happens one time each day and it helps you to make at least 10 pips a day trying the method on 15 Pairs means 15 trades a day and 75 trades every single week!
so let's get started !
first of all. you don't need any indicators to apply. a clean chart on H4, D1 Time is enough (with a cup of coffee)
now let's take a quick look at the new patterns :
a little bit strange right ?. no problem , i will clarify everything now
Entry Rules :
NOTE* : before you try to trade these patterns, keep in mind that your entry will ALWAYS be on the 9'th candle each day
1 : once the 9'th candle is opened , check back for the last 3 candles and match the patterns with the picture above
2 : open a trade according to the picture and set a 10 pips TP and 10 pips SL (remember your SL level , you'll need it later)
3 : set a opposite pending order with x2 or x3 of your initial lot size and 10 pips TP and finally set your SL Below/Above your initial trade SL + 5 pips
4 : if your initial trade hit the TP then cancel the pending order
NOTE* : the main reason behind setting a pending order is that if the pattern hit your SL , it will move strongly the same way. so setting a opposite pending order will cover the losses and gain a profits
entry examples with pips calculation :
The same level of the SL of the first order? Or at the High / Low of the previous candle
If out of the first 3 candles at least 2 candles are blue it is buy at the opening of the 9th candle and if out the first 3 candles at least 2 candles are red, it is a sell at the opening of the 9th candle. Hope, I got you right?
EA back-tests would quickly prove or disprove the expected long-term profitability and safety of this clean Price Action strategy.
