johnnyonspot
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Any further updates on this thread? Sounded promising. Just wondering if you're still using it and how things have gone.
Pippy5000
Legendary member
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His strategy sounds similar to mine. Essentially use R1-3 and S1-3 as reference points and place your stops and take profit lines at slightly less than the support lines. This causes stop losses to be miniscule while maximizing the upside or downside. If the value of the currency breaks a trend line then you have chosen unwisely and will lose 20 pips, however if the currency continues bouncing along a predictable trendline you can trade it up and down and can easily ride them for hundreds of pips if the pattern is adhered to long enough. I sometimes won't do a stop loss but will flip the trade in the opposite direction by placing a negative trade with twice the value of the positive trade.
i.e. +$100,000 hits slightly before R1, you place a -$200,000 trade to continue you the ride short -$100,000, then you place a +$200,000 at slightly before S1 for the trade to go long.. Repeat as long as you can.
Always keep on eye out for the repeating tight triangles to milk up and down, up and down.
i.e. +$100,000 hits slightly before R1, you place a -$200,000 trade to continue you the ride short -$100,000, then you place a +$200,000 at slightly before S1 for the trade to go long.. Repeat as long as you can.
Always keep on eye out for the repeating tight triangles to milk up and down, up and down.
