Hooks and Ticks Forex Trading
What follows under is one other work in progress and subsequently experiemental. It is nothing new in idea, simply one other method of taking a look at 4 bar reversals/development continuations. I’ve solely checked out this manually on GBP/USD 1 hour. Fairly self explanatory from the primary image. The setups resembles hooks and ticks therefore the title of the thread.
Guidelines:
Purchase setup – Bar 2 makes a decrease low and a decrease excessive than bar 1. It does not matter if they’re bullish or bearish. Bar 3 makes the next low than bar 2. It additionally does not matter what route it’s. Bar 4 makes the next excessive and increased low than bar 3 and bar 1 AND closes bullish.
Purchase entry – Purchase at open of bar 5, TP 10, SL at low of bar 4.
Promote setup – Bar 2 makes the next low and the next excessive than bar 1. It does not matter in the event that they’re bullish or bearish. Bar 3 makes a decrease excessive than bar 2. It additionally does not matter what route it’s. Bar 4 makes a decrease excessive and decrease low than bar 3 and bar 1 AND closes bearish.
Promote entry – Promote at open of bar 5, TP 10, SL at excessive of bar 4
